Homes sales continued to slow in Maine in the month of March with year-on-year sales down coupled with a drop in average sales prices.
Figures from the Maine Association of Realtors revealed a 3.11% decline in sales last month when compared to the same month in 2018. The median sales price (MSP) for homes sold was also in decline by 0.94% to $210,000 compared to $212,000 in March of last year. The MSP indicates that half of the homes were sold for more and half sold for less.
While the latest statistics show that sales have drop for the fourth consecutive month when lined up with the same months last year anecdotally early spring trade in places like Portland is reportedly brisk. Inventory continues to remain low despite the changing of the seasons and while fewer homes have sold there has been no upswing in the number of properties available. A more historical perspective also points to a longer term trend of buoyancy, although some industry watchers suggest figures for the first quarter of the year indicate a market shift has begun.
To find out how much homes in your neighborhood are selling for visit www.NeighborhoodHomeSales.com
Or, call us to find out how much your home is worth in today’s market.
Home hunting? Contact us about our VIP Buyer Program – it’s worked for 100’s of happy homeowners.