Latest industry data underlines that Maine’s lack of available homes for sale has continued to see prices rise across the state.
Figures from Maine Listings reveal the median sales price (MSP) for existing single-family homes was up by a massive 21.04% in March when compared to the same month last year.
The MSP indicates half of homes sold for more and half for less.
The driving force behind the price increase remains a shortage of property on the market which was also reflected in the statistics. Home sales year-on-year were down by 21.48%.
Industry insiders have offered some encouragement to prospective home buyers by pointing to a slight increase in the number of listings now coming onto the market. Spring traditionally sees a seasonal upswing in the amount of homes being put up for sale in Maine.