Maine real estate sales and values up in November

Posted:  Saturday, December 22, 2018 - 7:30am
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AUGUSTA (December 19, 2018)—Values are increasing for Maine’s single-family existing homes. According to the Maine Listings, the median sales price (MSP) for homes sold in November reached $219,000—a jump of 9.5 percent compared to November 2017. The MSP indicates that half of the homes were sold for more and half sold for less. Sales statistics held strong with a 2.9 percent rise comparing November 2018 to November 2017.

“Overall, real estate continues to be a good investment, as steady long-term increased value is outpacing the volatility found in other investment options,” says Kim Gleason, 2018 President of the Maine Association of REALTORS® and Broker/Owner of McAllister Real Estate in Hallowell. “Through November, Maine’s residential real estate sales volume is 2.7 percent ahead of 2017.  The monthly 2018 statewide median sales prices are higher than each comparable month in 2017.”

According to the National Association of Realtors, sales dipped 6.7 percent nationally comparing November 2018 to November 2017, while the MSP rose 5.0 percent to $260,500 over that same time period. The regional Northeast experienced a 2.6 percent decrease in sales and a 6.5 percent rise in the MSP to $291,400 comparing November 2018 to November 2017.

“Consumer confidence in home ownership remains high in Maine and owning a home is a good financial decision,” added Gleason. “If your 2019 plans involve selling or buying real estate, your local REALTOR® has the most accurate, up-to-date information on market conditions to maximize your investment.”

Below are two charts showing statistics for Maine and its 16 counties. The first chart lists statistics for the month of November only, statewide. The second chart compares the number of existing, single-family homes sold (units) and volume (MSP) during the rolling quarter of September, October and November of 2017 and 2018.                                                                                                                                                                       (Continued)

Maine Real Estate Statistics – November 2018 Housing Report—12/19/18—Page 2 of 2


NOVEMBER ONLY CHART

November 1-30, 2017 – November 1-30, 2018

 

 

NUMBER OF UNITS

MEDIAN SALES PRICE

 

2017

2018

%Change

2017

2018

%Change

STATEWIDE

      1576

       1621

    2.86%

$200,000

$219,000

9.50%

 

ROLLING QUARTER CHART

From September 1, 2017 – November 30, 2017 and

September 1, 2018 – November 30, 2018

 

 

NUMBER OF UNITS

MEDIAN SALES PRICE

 

2017

2018

%Change

2017

2018

%Change

STATEWIDE

5119

5134

0.29%

$205,000

$215,000

4.88%

 

 

 

 

 

 

 

Androscoggin

315

336

6.67%

$153,000

$165,000

7.84%

Aroostook

170

188

10.59%

$86,750

$93,200

7.44%

Cumberland

1164

1147

-1.46%

$279,450

$304,000

8.79%

Franklin

151

131

-13.25%

$130,000

$150,000

15.38%

Hancock

245

228

-6.94%

$234,900

$217,500

-7.41%

Kennebec

403

445

10.42%

$152,000

$166,001

9.21%

Knox

184

185

0.54%

$202,500

$249,000

22.96%

Lincoln

173

171

-1.16%

$224,900

$235,000

4.49%

Oxford

234

247

5.56%

$150,000

$160,000

6.67%

Penobscot

468

481

2.78%

$140,000

$145,000

3.57%

Piscataquis

102

120

17.65%

$123,724

   $108,500

       -12.30%

Sagadahoc

134

138

2.99%

$209,750

$235,000

12.04%

Somerset

174

183

5.17%

$120,000

$117,500

-2.08%

Waldo

171

150

  -12.28%

$172,500

$175,000

1.45%

Washington

117

116

-0.85%

$115,000

$137,500

19.57%

York

914

868

-5.03%

$269,900

$282,000

4.48%

 

Source: Maine Real Estate Information System, Inc. (d/b/a Maine Listings).  Note: Maine Listings, a subsidiary of the Maine Association of REALTORS, is a statewide Multiple Listing Service with over 4,700 licensees inputting active and sold property listing data.  Statistics reflect properties reported as sold in the system within the time periods indicated. Contacts: Maine Association of REALTORS President Kim Gleason (McAllister Real Estate) – (207) 621-2345kimgleason@myfairpoint.net - Maine Association of REALTORS President-Elect Peter Harrington (Malone Commercial Brokers) – (207) 772-2422peter@malonecb.com   For more names:  suzanne@mainerealtors.com