Maine and Massachusetts were the only states in the region to show “significant increases” in median home sale price year-over-year in March, according to the latest update from RE/MAX of New England.
“For the first time in months, we are seeing a stabilization in median home prices,” said Jay Hummer, Executive Vice President, RE/MAX of New England. “Couple this with diminishing inventory and it’s a good indicator of moving toward a healthy spring market.”
According to the report, there were 841 home sales last month in Maine, with a median sales price of $157,000. That compared to 750 home sales in March 2011, with a median sales price of $155,250.
This continues a positive trend in Maine home sales.
The volume of Maine houses sold in February jumped year-over-year, RE/MAX reported last month.
In February 2011, 564 homes were sold statewide, compared with 703 this year, the report said. That was a 24.6 percent jump.
The median home sales price in Maine did dip year-over-year in February, the report indicated. In February 2011, the median price was $157,500, and it dropped by 7.1 percent this last February to hit $146,300.