Maine real estate market continues growth
This year remains strong for the real estate market in Maine, as double-digit gains in sales of single-family homes over the prior year continue.
According to the Maine Association of Realtors, 1,672 homes were sold in May, an increase of 25.24% from last year. In its report, the Realtors' association also noted that the statewide median sales price of $190,250 marks a 2.84% increase over the year.
"From conversations with Realtor leaders statewide, all areas of Maine are experiencing robust activity. Consumers with good credit are actively looking to purchase,” Ed Gardner, 2016 president of the Maine Association of Realtors, said in a statement. “Demand is very high and is likely fueled by continued low mortgage interest rates, Maine's exceptional quality of life and increasing rental costs due to the limited supply of rental units in some markets.”
Looking beyond the local real estate trends, the National Association of Realtors on Thursday announced that home sales across the country rose 4.7% from the same time last year. The median sales price also showed growth, as prices rose 4.6% to $241,000 from May 2015.
Most Recent
Most Recent
Comments