Maine home sales and prices increase in February
February statistics, released March 20 by Maine Listings, indicate a 5.75 percent increase in sales of single-family existing homes, comparing February 2020 to February 2019. The median sales price for the 865 homes sold reached $216,900—an uptick of 8.45 percent over that same time period. The MSP indicates that half of the homes were sold for more and half sold for less.
“February 2020 was an especially strong month for real estate sales, recording the second highest number of February sales (865) since we began keeping statistics 20 years ago,” says Tom Cole, 2020 President of the Maine Association of Realtors and Managing Broker of Better Homes and Gardens Real Estate The Masiello Group in Brunswick.
Nationwide, sales of single-family existing homes are up 7.3 percent, comparing February 2020 to February 2019. The National Association of Realtors reports that the national MSP jumped 8.1 percent to $272,400. Regionally, sales across the Northeast increased 2.9 percent, and the regional MSP rose 8.2 percent to $295,400.
“Concern for the health and safety of Realtors’ clients and customers is paramount,” says Cole. “With the current COVID-19 outbreak, Realtors have listened to, and are adapting to, clients’ and customers’ concerns and needs. Along with our industry partners and by following CDC guidelines, buyers and sellers that want to, or need to, are able to make their real estate goals happen.”
Below are two charts showing statistics for Maine and its 16 counties. The first chart lists statistics for the month of February 2020 and 2019 only, statewide. The second chart compares the number of existing, single-family homes sold (units) and volume (MSP) during the rolling quarter of December (’18,’19), January and February (‘19/’20).
FEBRUARY ONLY CHART February 1-28, 2019 – February 1-29, 2020
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| NUMBER OF UNITS | MEDIAN SALES PRICE | ||||
| 2019 | 2020 | %Change | 2019 | 2020 | %Change |
STATEWIDE | 818 | 865 | 5.75% | $200,000 | $216,900 | 8.45% |
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ROLLING QUARTER CHART From December 1, 2018 – February 28, 2019 and December 1, 2019 – February 29, 2020
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| NUMBER OF UNITS | MEDIAN SALES PRICE | ||||
| 2018-19 | 2019-20 | %Change | 2018-19 | 2019-20 | %Change |
STATEWIDE | 2870 | 3423 | 19.27% | $210,000 | $225,000 | 7.14% |
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Androscoggin | 193 | 217 | 12.44% | $160,000 | $167,900 | 4.94% |
Aroostook | 94 | 122 | 29.79% | $81,550 | $73,750 | -9.56% |
Cumberland | 640 | 770 | 20.31% | $290,750 | $317,250 | 9.11% |
Franklin | 71 | 100 | 40.85% | $129,000 | $160,000 | 24.03% |
Hancock | 136 | 166 | 22.06% | $225,500 | $221,000 | -2.00% |
Kennebec | 228 | 264 | 15.79% | $155,000 | $167,500 | 8.06% |
Knox | 99 | 109 | 10.10% | $235,000 | $225,000 | -4.26% |
Lincoln | 88 | 112 | 27.27% | $217,000 | $217,000 | 0.00% |
Oxford | 148 | 168 | 13.51% | $145,500 | $169,450 | 16.46% |
Penobscot | 290 | 352 | 21.38% | $135,000 | $155,150 | 14.93% |
Piscataquis | 46 | 60 | 30.43% | $107,250 | $113,250 | 5.59% |
Sagadahoc | 90 | 110 | 22.22% | $229,000 | $240,000 | 4.80% |
Somerset | 101 | 107 | 5.94% | $95,000 | $120,000 | 26.32% |
Waldo | 77 | 90 | 16.88% | $180,000 | $164,000 | -8.89% |
Washington | 63 | 81 | 28.57% | $110,000 | $132,000 | 20.00% |
York | 506 | 595 | 17.59% | $269,900 | $297,000 | 10.04% |
Source: Maine Real Estate Information System, Inc. (d/b/a Maine Listings). Note: Maine Listings, a subsidiary of the Maine Association of REALTORS, is a statewide Multiple Listing Service with over 5,400 licensees inputting active and sold property listing data. Statistics reflect properties reported as sold in the system within the time periods indicated. Contacts: Maine Association of REALTORS® President Tom Cole (Better Homes and Gardens Real Estate The Masiello Group, Brunswick) – (207) 721- 1000 tomcolerealtor@gmail.com - President Elect Aaron Bolster (Allied Realty, Skowhegan) – (207) 474-9553 abolster@alliedrealty.net For additional names: suzanne@mainerealtors.com
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