Maine Sales Set Record
Some Communities Achieve Historic Highs
For the fourth consecutive year, single family home sales improved in 2015. Unit sales of 15,843 represented a significant 11.1% increase over 2014 and were 8.5% ahead of 2005 – which was the current record when 14.592 homes were sold. Nearly every community in Maine, especially those in the southern part of the state, recorded unit increases in 2015 – many setting all-time record highs.
Following two years of no growth, the median selling price in Maine improved to $180,000, reflecting an increase of 2.9%. Unlike sales volume, which demonstrated improvement in all parts of the state, increases in selling prices were much more focused in specific communities, especially those that featured population growth or business development.
The continued improved sales activity follows several years of significant market decline in both units and pricing, and reflects a more accurate level of equilibrium and improved overall liquidity for both buyers and sellers.
According to data from Maine Real Estate Information System (MREIS), home sales were higher each month of 2015 compared to similar months each year from 2011 through 2014. That is an unprecedented run of strong sales performance – leading to record level sales. In 2015 six individual months exceeded 2014 results by 14% or greater. Two months recorded sales improvement in excess of 20%. The highest month was November, where 2015 sales exceeded 2014 by 23.2%............
Read the entire report here: 2015 Sales Report.
Details by Local Community
Looking for more details about your neighborhood? We update our website, MaineHomeConnection, every month with the latest sales stats. You 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.