Prices paid for Maine homes continued to rise whilst the number of properties actually selling continued to fall last month.
The “Up Down” trend over recent months has been fueled by the on-going lack of inventory available for the number of buyers in the market.
According to latest figures produced by Maine Listings, the median sales price (MSP) rose by 21.48% last month compared to Feburary of 2021 to stand at $297,500 statewide. MSP indicates half of homes sold for more and half for less.
Meanwhile, the number of existing single family homes sold declined by 17.33% when comparing the same time period.
The wider perspective however offers a slightly different view with the number of homes closed in Feburary of this year the second-best February in the past 5 years, and the third best since local records began in the late 1990s.