Home sales rose 29% in Maine last month, though the median sales price dipped 6%. This winter's mild weather helped boost sales, according to the Maine Association of Realtors.
A total of 624 existing single-family homes were sold in Maine in February, up from 482 one year ago, according to the Maine Real Estate Information System Inc. The median sales price was $149,900. Tina Lucas, president of the Maine Association of Realtors and owner/broker of Lucas Real Estate in Portland, said last month's lack of snow kept the "hibernation factor" from developing. Low interest rates and increased consumer confidence also helped increase sales in February.
Nationally, home sales rose 9.4% and the median sales price inched up 0.1% to $157,100. In the Northeast, sales were up 5.5%, while the sale price dipped 1.9% to $225,800.