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MAINE HOME SALES UP 29 PERCENT IN FEBRUARY

SOUTH PORTLAND (March 21, 2012) — Buyers of single-family existing homes in Maine showed up in increasing numbers last month, leading to double-digit sales gains. According to the Maine Real Estate Information System, Inc., 624 homes sold in February 2012, a sales increase of 29.46 percent compared with February 2011. The median sales price (MSP) decreased 5.99 percent to $149,900 in that same time period. The MSP indicates that half of the homes sold for more and half sold for less.

The National Association of Realtors reports a 9.4 percent increase in existing home sales nationwide. The national MSP rose 0.1 percent to $157,100 in February. Regionally, the Northeast experienced a 5.5 percent increase in sales, while the regional MSP dipped 1.9 percent to $225,800.

Maine Association of Realtors