Maine home sales dipped by 25.4% year-on-year according to latest figures published by Maine Listings.
The median sales price (MSP) meantime was up by 14.17% when comparing September’s data to the same month last year to stand currently at $376,750. The MSP indicates half of homes sold for less and half for more.
The on-going lack of inventory continues to drive the market trends. Whilst there were 2% more homes available for sale in September than August when compared to pre-pandemic statistics the number of units on the market is down by 57%.
Statewide 3,855 listings were active last month that compares to 9,026 in September of 2019.
The National Association of Realtors (NAR) reported that existing home sales were down, and median sales prices were up nationally and in the northeast when comparing September 2023 to September 2022.
Sales across the country eased 15.8% in the past year, while prices increased 2.5% to a national MSP of $399,200. Regionally sales in the Northeast dipped 16.7% and the regional MSP rose 5.2% to $439,900