Maine single-family home sales rise in October
Despite rising interest rates, home sales across the state continue at a healthy pace, according to the latest report from the Maine Association of Realtors.
The association reported that 1,639 single-family homes were sold in Maine during October, a 5% increase over the prior year.
The median sales price for homes sold also rose 2.67% from the year before to $192,500.
The National Association of Realtors the same day reported that nationwide, existing single-family home sales rose 6.6% from a year earlier and the median price of $233,700 was up 5.9%.
“Maine families continue to buy real estate to take advantage of the equity accumulation and tax benefits or property ownership,” Ed Gardner, president of the Maine Association of Realtors, said in a prepared statement. “Across the state ... ‘for sale’ inventory levels are adequate to provide choice and amenities at all price points. Motivated buyers should have confidence for their end-of-year purchase.”
Aroostook County saw the biggest increase in sales, up more than 44% to 186 homes, from 129 last October. Cumberland County topped the median price with $272,000, up 6.08% from last year.
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