Maine Real Estate Sales Continue A Downward Trend In June
Sales of single-family existing homes in Maine continued to decrease in June 2008. In a press release to the Maine media, MREIS reports 996 homes sold last month, a drop of 24.32% from last June’s sales figure of 1,316 homes. During the past 12 months, Maine’s median sales price decreased nearly six percent to $188,000. The median sales price indicates that half of the homes were sold for more and half sold for less. NAR reports a nationwide sales drop of 14.8% in June. The national median existing single-family home price dropped 6.7% to $213,800. Regionally, sales in the Northeast fell 15.8% during the past 12 months. According to NAR, the regional median sales price decreased 12.6% to $256,700. The complete press release will be posted to the MAR site soon.
Sales of single-family homes in Maine were down 22% in the first six months of 2008, according to a press release from the Maine Association of Realtors.
There were 4,373 single-family homes sold in Maine during the first half of 2008, 22.4% fewer than the 5,637 sold during the first half of 2007.
The median sales price for homes sold in Maine during the first half of 2008 was $185,000, a 5% decrease from the median sales price of $195,000 during the first half of 2007. However, the median sales price actually climbed in five of Maine’s 16 counties during the first half of 2008.
Here’s a look at the 10 counties that saw the largest fluctuation in median sales price (MSP) during the first half of 2008.
| County | MSP 2007 | MSP 2008 | % change |
| Statewide | $195,000 | $185,000 | -5.13% |
| Washington | $95,000 | $136,000 | 43.16% |
| Waldo | $151,875 | $165,000 | 8.64% |
| Franklin | $136,000 | $140,000 | 2.94% |
| Aroostook | $89,000 | $91,250 | 2.53% |
| Oxford | $148,250 | $151,500 | 2.19% |
| Hancock | $212,750 | $199,100 | -6.42 |
| Sagadahoc | $205,000 | $190,400 | -7.12% |
| Somerset | $107,000 | $97,500 | -8.88% |
| Knox | $220,000 | $196,500 | -10.68% |
| Piscataquis | $101,250 | $88,350 | -12.74% |
Source: Maine Association of Realtors
