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Prices for Maine homes jumped again last month

July 22, 2021 GMT

PORTLAND, Maine (AP) — The pace and price of home sales in Maine increased again last month as the state’s housing market stayed hot.

The Maine Association of Realtors said Thursday the statewide median sales price increased by $5,000 to $310,000 in June. The number of home sales rose from 1,613 in May to 1,973 for June.

The June figures amount to an increase of nearly 25% in the median sales price and nearly 15% in sales compared to June of last year.

Homes in the state are going under contract swiftly, often with multiple offers, said Aaron Bolster, president of realtors association. Homes are spending about six days on the market, which is less than half the number last year or in 2019, he said.

Maine’s sales trends were similar to those around the country. High demand is driving prices and sales in Maine, the realtors association said.

Median sales prices went up in every county in Maine in June. Prices went up the most in Waldo County, where they rose by almost 40%.