Single-family existing home values in Maine continue to rise, and sales have remained in healthy territory. Maine Listings reported this week that 822 homes changed hands in February, an increase of 5.93 percent compared to February 2017. The median sales price (MSP) for homes sold reached $194,450, up 8.03 percent, comparing February 2018 to February 2017. The MSP indicates that half of the homes were sold for more and half sold for less.

“In a tight, competitive real estate market, working with a REALTOR^® is a smart move,” says Kim Gleason, 2018 president of the Maine Association of REALTORS^® and Broker/Owner of McAllister Real Estate in Hallowell. “Available for-sale inventory in February 2018 was nearly two percent below a month ago and 16 percent below a year ago. REALTORS^® have experience, industry relationships, and expert market insights to help sellers and buyers be informed decision-makers and successfully navigate their real estate transaction.

“REALTORS^® across Maine report brisk activity and multiple offer situations in most markets. If you’re considering a move, early spring is the perfect time to spruce up your property, inside and out, to maximize its value and marketability.”

According to the National Association of REALTORS^®, sales of single-family existing homes nationwide were up 1.8 percent in February, and the national MSP of $243,400 represents a 5.9 percent increase from February 2017. Regionally, February sales in the Northeast dipped 7.2 percent, while the regional MSP increased 3.6 percent to $258,900 compared to February 2017.