Home Sales Exceed Prior Year (Again)
January 2016 vs January 2015
Maine home sales remained strong in January. 895 single family homes were sold across the state, representing an increase of 12.2% over January 2015. The median selling price (MSP) improved to $175,000, reflecting an increase of 9.9%.
The National Association of Realtors released January statistics indicating an 11.2% increase in sales nationwide, and a national MSP rise of 8.3% to $215,000. Regionally, the Northeast experienced an impressive 20.6% jump in sales while the regional MSP was up 0.9% to $247,500.
As expected, Cumberland County continues to outperform the rest of the state. Unit sales were up 29.3% in January and the MSP improved 9.4% to $230,000 – the highest in the state. Looking at the last three months (Nov – Jan), sales and prices in Cumberland County are up 15.9% and 3.9% respectively. The 3-Month rolling average for MSP is currently $245,000, by far the highest for any county in Maine.
Cumberland County sales in January of 238 homes was the highest ever recorded. No other January ever exceed 200. Inventory levels are approaching historic low levels. At the end of January the number of homes available was the lowest since 2005, with over 40% of all properties under contract.
The chart below includes current sales statistics for many local communities.
MaineHomeConnection.com is updated each month with the latest sales statistics. You can access this information by town at Local Communities, or try our Interactive Sales Chart. If you don't see what you are looking for, we can prepare a custom report for you.