Although the real estate market is still struggling, some good news was released in the December 2010 report by the Maine Real Estate Information System (MREIS). According to MREIS the median sales price for existing single-family homes in Maine is going up. The median sales price rose 4.24% in December 2010 compared to December 2009. The median sales price for 2010 was $168,750 which is an increase of 2.9% from 2009. Maine seems to be the exception rather than the rule, as the National Association of Realtors (NAR) reports that nationwide the median sales price dropped in December 2010 by .2%.
Despite the rise in the median sales price of homes in Maine, overall there are fewer being sold. In 2010 the number of home sales dropped by 2.5% nationwide when compared with 2009. The Northeast saw a decrease of home sales by 5.4%, in December 2010 compared to December 2009. Maine’s percentage of home sales dropped even more with a decline of 10.68% over this same time period.
Click here to read the full report.
Tags: foreclosure, foreclosure trends, homes sales, housing, real estate, short sale
