Maine Real Estate Sets Sales Record in December
SOUTH PORTLAND (January 26, 2004)—Real estate sales set an all-time sales record for Realtors this past December in the state of Maine. According to the Maine Real Estate Information System (MREIS), sales were up 19.66 percent from December 2002.
Realtors in Maine’s 16 Counties sold a total of 1,120 homes in December. The median sales price for those homes went up 7.79 percent to $160,009. The median sales price indicates that half of the homes were sold for more and half sold for less.
Statistics for the entire year of 2003 were also released. MREIS reported a sales total of 13,246 homes sold in Maine during 2003, a 3.96 percent increase. The median sales price reached $156,000, up 12.23 percent from 2002’s price of $139,000. A majority of the 16 counties also witnessed positive sales for the year, and all sales prices increased by 6 to 31 percent.
The National Association of Realtors reported a national sales increase of 8.9 percent this December over last, and a 6.7 percent jump in the median sales price of $173,200.
National figures for the year were equally as impressive. Statistics indicate a total of 6.1 million home sales across the country in 2003, up 9.6 percent from 2002. The national yearly median sales price reached $169,900, up 7.5 percent from a price of $158,100 last year.
Regionally, the Northeast experienced a 9.1 percent increase in sales during December 2003. The median sales price rose 11.4 percent to $192,600 in the region.
Maine’s real estate has become coveted by investors, and to buyers interested in a well-balanced environment for their family, leisure time and work. Roger Belanger of Allied Realty in Skowhegan said, “The quality of life is a huge issue for buyers. The proximity to hunting, fishing and snowmobiling [is important in a real estate sale].”
The sales figures are encouraging to Roger, who believes 2004 “will be another active year. Upscale homes will probably be quite active. There is a fair amount of cash in the market.”
A chart showing statistics for Maine and its 16 counties follows. The first chart lists statistics for the month of December only, statewide. The second chart compares the number of existing, single-family homes sold (units) and volume in all of 2002 and 2003, based on realtor transactions.