The onset of the pandemic last year contributed to a hefty increase in year-on-year home sales last month according to the latest industry report.
Statistics published by Maine Listings reveal a 35.68% leap in sales in April when compared to 12 months previous. Maine was in COVID-shutdown in April of 2020 negatively impacting home buying activity.
The median sales price (MSP) in April of this year was also well up on last year by 17.05% to stand at $276,000. The MSP indicates that half of homes sold for more and half for less.
The local picture was reflective of that both regionally and nationally.
The National Association of Realtors (NAR) reported sales of existing family homes were up 28.9% across the country year-on-year with the national MSP up by 20.30% to $347,400. Regionally, in the northeast, sales were up by 30.4% and the MSP by 22% to $381,100 in the same time period.
Industry watchers have pointed to an improving COVID situation and a return to work for many as factors that could help stabilize the market and stem the upward pricing trend somewhat.