ME Association of Realtors: home sales up 29.5% in Feb.

As expected, the Maine Association of Realtors was hot on the heels of the RE/MAX New England report, putting out their own stats for the month of February.

According to the Maine group, 624 homes sold in February 2012, a sales increase of 29.46 percent compared with February 2011. The median sales price (MSP) decreased 5.99 percent to $149,900 in that same time period.

RE/MAX reported yesterday that 564 homes were sold statewide in February 2011, compared with 703 this year, a 24.6 percent jump. RE/MAX had the median sales price dropping by 7.1 percent this last February to hit $146,300.

So the numbers don’t match up precisely, but the general trend is consistent.

According to the Maine Realtors release, the National Association of Realtors reports a 9.4 percent increase in existing home sales nationwide. The national MSP rose 0.1 percent to $157,100 in February. Regionally, the Northeast experienced a 5.5 percent increase in sales, while the regional MSP dipped 1.9 percent to $225,800.

For a full set of tables showing county-by-county data, take a look at the Maine Realtors’ release.

The group quotes Tina Lucas of Lucas Real Estate in Portland as saying, “The steady increase in the number of homes sold is a reflection of several factors: the rise in consumer confidence, continued historic low interest rates and, in the last quarter, an unusually mild Maine winter. With little snow cover and mild temperatures, the ‘hibernation factor’ did not have an opportunity to develop.”

She goes on:

“We are seeing steady sales across the price spectrum with brisk activity in the first-time home buyer market, multi-family properties and the luxury home market with high end homes attractively priced. Investors are viewing real estate as a safe haven. Buyers across the board who are ready, willing and able to get into the market are recognizing the door may soon be closing on the current pricing, as the inventory continues to shrink.”