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July 24, 2009

Home sales up, prices still down

Home sales in Maine are on the rise, but average home sales prices are still down compared with last year.

In June, 1,133 homes were sold, a nearly 14% increase from the 996 homes sold in June 2008, according to a press release from the Maine Real Estate Information System Inc. It's also an increase over the 877 homes sold in May. The median sale price in June was $170,000, a 9.5% decrease from last June's average sale price of $188,000.

Nationally, existing home sales rose only 0.2%, and the median sales price dropped 15% to $181,600 from the same month last year, according to the release.

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