Home sales, prices continue to trend up in Maine
AUGUSTA, Maine (AP) — Home sales and home prices in Maine are continuing to trend upward.
The Maine Association of Realtors said sales and prices were both up by 28% in May compared to May 2020. The association said high buyer demand is driving the increase in home values.
The state’s median sales price was $305,000 in May. That increase was similar to the national increase. The national median sales price increased about 24% to $356,600.
The Maine sales figures are evidence that the residential market in the state has rebounded since the start of the coronavirus pandemic, association president Aaron Bolster said. May 2020 was the low point for the residential real estate market in the state, he said.
Home sales and prices were up in every county in the state of Maine. The biggest increase in sales was in Washington County, while the biggest jump in price was in Sagadahoc County, the association said.