SOUTH PORTLAND — Maine real estate market continues to show signs of improving. According to Maine Real Estate Information System (MREIS), a total of 945 homes were sold in October, an increase of 6.78% since October 2010.
The National Association of Realtors (NAR) reported a nationwide sales increase of 13.8% over the past 12 months. The national MSP declined 5.8% to $161.600. Regionally, sales in the Northeast rose 1.4% and the regional MSP decreased 5.5% to $224.400.
MAR President Mike LePage, owner of RE/MAX Heritage in Yarmouth, says there are more positive signs in Maine’s single-family real estate market. “The chart shows the majority of Maine’s counties showed significant gains. The winner this rolling quarter is Somerset County with a 38.10% sales gain over last year; their median sales price rose 39.85% as well.” LePage continues, “Real estate is a rare investment that you get to physically enjoy regardless of the market. Real estate is a great investment.”
Below are two charts showing statistics for Maine and Oxford County. The first chart lists statistics for the month of October only, statewide. The second chart compares the number of existing, single-family homes sold (units) and volume (MSP) during the months of August, September. and October, of 2010 and 2011.
October Only Chart: October 1-31, 2010 – October 1-31, 2011
Statewide — Units sold 2010: 885; Units sold 2011: 945; Change: 6.78%; MSP 2010: 166,500; MSP 2011: $165,000; Change: -0.90%
Rolling Quarter Chart: From August 1, 2010-October 31, 2010, and August 1, 2011-October 31, 2011
Statewide — Units sold 2010: 2734; Units sold 2011: 3002; Change: 9.80%; MSP 2010: $168,525 MSP 2011: $164,675; Change: -2.28%
Oxford County — Units sold 2010: 114; Units sold 2011: 149; Change: 30.70%; MSP 2010: $136,250; MSP 2011: $117,240; Change: -13.95%
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