Maine 2005 Home Prices Up Over 9%
Home sales in Maine were stable in 2005, with only 49 fewer homes switching hands than in 2004. Median sales prices, however, were on the rise.
According to the Maine Real Estate Information System, Realtors in Maine’s 16 counties sold a total of 14,396 single-family existing homes in 2005, a slight 0.34 percent decline from 2004.
The median sales price rose to $191,000. This represents a change of 9.14 percent from 2004’s price of $175,000. The median sales price indicates that half of the homes were sold for more and half sold for less.
The year 2005 witnessed positive real estate trends nationwide. The National Association of Realtors (NAR) reported a 3.6 percent increase of existing single-family home sales in 2005. The statistics represent the fifth consecutive annual record. The 2005 national median sales price rose 12.6 percent to $207,300.
December real estate sales in Maine dropped 8.81 percent, though median sales prices hit $187,500, an increase of 7.14 percent.
In the Northeast, NAR reported a total existing-home median sales price of $245,000 in December 2005, a jump of 11.4 percent. Sales decreased 3.5 percent from December 2004.
A chart showing statistics for Maine and its 16 counties follows. The first chart lists statistics for the months of December 2005 and 2004 only, statewide. The second chart compares the number of existing, single-family homes sold (units) and volume (sales price) during the 12 months of 2005.