Home sales up, median sales price down in Maine for second quarter of 2014

The volume of single-family home sales in Maine continued to rise in the second quarter of 2014, up about 10 percent from the second quarter of last year. The increase in sales volume was coupled with a decline in the median sales price for the second quarter.

Within that three-month period, June marked the largest increases over last year, with single-family homes sales rising 14 percent, to 1,513 transactions, from last year. June was the only month of the second quarter where the median sales price rose over last year.

The latest data continues a trend of year-over-year percentage increases in the volume of single-family home sales, while growth in the median sales price of single-family homes slowed from March through May.

While Maine’s single-family homes sales rose in June, sales volume dropped nationally. And while Maine’s median sales price dropped, the national median sales price rose 4.5 percent to $224,300. Maine’s median sales price was $185,000 in June.

In New England, sales dipped 3 percent and the median sales price was basically flat at $269,800, compared with June 2013.

Angelia Levesque, president of the Maine Association of Realtors, said in a statement that Maine remains the second-most popular state in the country for second homes and recreational properties.

Recommend this article
Darren Fishell

About Darren Fishell

Darren is a Portland-based reporter for the Bangor Daily News writing about the Maine economy and business. He's interested in putting economic data in context and finding the stories behind the numbers.