MAINE SINGLE-FAMILY HOME PRICES UP 8.86 PERCENT; SALES UP 2.53 PERCENT IN MAY

SOUTH PORTLAND – June 23, 2015 – (RealEstateRama) — Maine home values continue to rise in most counties, further illustrating a more stable real estate environment across the state.

According to Maine Listings, 1,335 single-family existing homes changed hands last month, leading to a 2.53 percent increase in sales overall. The median sales price (MSP) for those homes reached $185,000—a rise of 8.86 percent. The MSP indicates that half of the homes were sold for more and half sold for less.

Nationally, sales were up 9.7 percent in the past 12 months. According to the National Association of Realtors, the national MSP increased 8.6 percent in May to $230,300.

Sales in the regional Northeast jumped 11.3 percent while the regional MSP rose 4.8 percent to $269,000.

Traditionally, the summer market ushers in booming business for single-family existing home sales—which the current data confirms. Buyers hope to move and settle before school begins in the fall, and Realtors offer professional guidance to make that timeline happen. Marie Flaherty, 2015 President of the Maine Association of Realtors, said, “buyers today have access to more information than ever, but the market data needs to be properly interpreted and analyzed. A Realtor with extensive local knowledge helps buyers make educated decisions when submitting an offer on a property.”

Flaherty, a Realtor with Berkshire Hathaway Home Services in Westbrook, reminds buyers to visit mainerealtors.com to Find a Realtor . The site lists qualified, licensed Realtors by market area, and also includes a link to home listings through www.Realtor.com.

Source: Maine Real Estate Information System, Inc. (d/b/a Maine Listings). Note: Maine Listings, a subsidiary of the Maine Association of REALTORS, is a statewide Multiple Listing Service with over 4,200 licensees inputting active and sold property listing data. Statistics reflect properties reported as sold in the system within the time periods indicated. Contacts: Maine Association of

REALTORS President Marie Flaherty (Berkshire Hathaway HomeServices Northeast Real Estate) – 797-8585 – marie (at) tfre (dot) com – Maine Association of REALTORS President-Elect Ed Gardner (Ocean Gate Realty) – 773-1919 – ed (at) oceangaterealty (dot) com For more names: suzanne (at) mainerealtors (dot) com

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