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August 25, 2016

Maine home sales see slight dip from 2015

In July fewer homes were sold in the state of Maine than in the prior year during July, the first month this year in which sales were lower than in 2015.

According to the Maine Association of Realtors, 1,710 homes were sold in July, 39 fewer than July 2015. In its report, the Realtors' association also noted that the statewide median sales price of $197,700 marks a 4.66% increase over the year.

“For the past year, Maine has enjoyed a healthy real estate market. We have experienced month-over-month increases of both unit sales and median sale prices, almost 10% in units sold, from this past quarter to the same in 2015,” Ed Gardner, 2016 president of the Maine Association of Realtors, said in a statement. “The month of July 2016 took a dip in units sold — a little over 2% from last July — probably due to the lack of available inventory for buyers.”

Looking beyond local real estate trends, the National Association of Realtors on Wednesday announced that home sales across the country were down 0.8% from the same time last year. The median sales price also showed growth, as prices rose 5.4% to $284,000 from July 2015.

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