Latest home sales figures reveal a decline in the number of properties sold when compared to both last year and 2019.
The statistics published by Maine Listings indicated sales of homes statewide dipped by 4.76% last month when lined up against August 2020. Sales were also down 3.50% when compared to the same month in 2019 and pre-pandemic.
Industry watchers point to possible “buyer fatigue” as a reason some home purchasers have put their home search on hold. The continued upward trend in prices – which continued last month – may also have priced some out of the market it has also been suggested.
The median sales price (MSP) for single family homes in Maine was up by 14.81% to $310,000 last month compared to August 2020. Although if competition cools for properties for sale commentators suggest prices could begin to level off.
The MSP indicates half of homes sold for more and half for less.