Maine home sales and prices were both up last month when compared to March last year, according to the latest figures published by Maine Listings.
The 3.5% rise in units sold, year-over-year, is the second consecutive month of increases. That follows 31-months of declining sales and is one indication that the green shoots of this year’s Spring market have began to emerge.
Real estate agents report strong buyer demand for the listings now coming on to the market with business described as “brisk” and multiple offers commonplace.
Prices paid for existing single-family homes also continued to rise in March, up 12.59% when compared to the same month last year. The median sales price (MSP) statewide now stands at $380,000 – the MSP indicates half of homes sold for more and half for less.
Nationwide, the number of home sales fell by 2.8% last month when compared to March 2023, and, according to the National Association of Realtors (NAR), the MSP rose 4.7% to $397,200.
Regionally, sales in the Northeast dipped 3.8% whilst the regional MSP increased by 9.9% to $434,600 when comparing last month’s data to 12 months previous.
