An active fall season for Maine real estate is underway. According to Maine Listings, sales of single-family existing homes jumped 6.36 percent in August. The median sales price (MSP) for those homes increased 4.57 percent to $206,000. The MSP indicates that half of the homes were sold for more and half sold for less.
“August statistics show a final summer push and good momentum moving into the fall,” says Greg Gosselin, 2017 President of the Maine Association of Realtors and Broker/Owner of Gosselin Realty Group. “Buyers are active in the marketplace and ready to purchase, searching for properties to meet their specific needs.”
The fall season is an excellent time to sell a home because, “buyers want to settle before the winter months and take advantage of the tax benefits of real estate ownership prior to year’s end,” added Gosselin.
According to the National Association of Realtors, sales were up 0.4 percent across the country and the national MSP increased 5.6 percent to $255,500 comparing August 2017 to August 2016. Regionally, sales in the Northeast in August 2017 rose 1.4 percent and the regional MSP of $289,500 reflects an increase of 5.6 percent compared to August 2016.