The average price for a home sold in Maine achieved a high of $340,000 last month, according to latest industry figures.
The statistics produced by Maine Listings reveal a 9.68% increase in the median sales price (MSP) in August over the same month last year. The MSP indicates that half of homes sold for more and half sold for less.
Conversely, the number of homes actually sold statewide last month dropped by 9.89% when measured against 12 months ago.
Whist still low, the inventory of available properties for sale was up around 25% in July of this year over July 2021. Contract contingencies and seller concessions have been returning to negotiations between buyers and sellers as a “levelling off” is beginning to emerge in some markets across the state.