Maine homes have sold at a near-record pace this year through the month of August.
Statistics released Thursday by the Maine Association of Realtors show total sales volume of existing single-family homes in Maine through Aug. 31 is less than 1% below the first eight months of 2018 — the state's best sales year ever.
The association reported a 3.2% bump in August home sales compared with a year earlier, while the statewide median home sales price increased by 4.6% to $230,000. The median indicates that half of homes sold for more money and half sold for less.
"It has been a strong real estate year for much of Maine, and good quality for-sale inventory is moving quickly," Peter Harrington, association president and broker/partner with Malone Commercial Brokers in Portland, said in a statement. "We expect a strong finish to 2019, but that depends on a steady stream of new affordable listings to meet the needs of Maine's working families."
Nationally, single-family home sales in August increased by 2.9% from a year earlier, while the median sales price was up by 4.7% to $280,700, according to the National Association of Realtors. Sales in the Northeast region were up by 1.4%, while the regional median price eased by 0.3% to $303,500, it said.
For the three-month period ending Aug. 31, Maine home sales were down by about 1.2% from the same period of 2018, while the median sales price was up by nearly 3.6% to $233,000, according to the Maine association.
The biggest increase in sales for the three-month period occurred in Aroostook County, where sales jumped by 16.4% from a year earlier. The biggest decrease was in Knox County, where sales fell by 16%.
The biggest median sales price increase for the three-month period was in Piscataquis County, where the median increased by 35.9% from a year earlier to $144,000. Only two counties had median price decreases during the period — 3.6% in Hancock County and 3.9% in Waldo County.
