MAINE HOME SALES UP 11.84 PERCENT IN DECEMBER

FOR IMMEDIATE RELEASE
CONTACTS: LISTED BELOW

2012 YEARLY STATISTICS SHOW A 17.12 PERCENT RISE

SOUTH PORTLAND (January 23, 2013)— The state of Maine experienced strong double-digit home sales in December 2012. According to the Maine Real Estate Information System (MREIS), statewide sales increased 11.84 percent and the median sales price (MSP) rose 6.25 percent to $170,000. The MSP indicates that half of the homes were sold for more and half sold for less.
Across the United States, sales of single-family existing homes jumped 11.5 percent in December, while the national MSP increased 10.9 percent to $180,300. According to the National Association of Realtors (NAR), December sales in the Northeast rose 10.3 percent and the regional MSP increased 5.3 percent to $231,600.
MREIS also released sales statistics for calendar year 2012. Realtors sold 11,521 homes during 2012—an increase of 17.12 percent over 2011’s statistics. The 2012 statewide MSP increased by a solid 3.03 percent for single-family, existing homes. NAR today cited a preliminary, annual sales rise of 9.2 percent and a national MSP increase of 6.3 percent to $176,600.
Bart Stevens, 2013 President of the Maine Association of Realtors, says, “Many buyers have been sitting on the sidelines waiting for just the ‘right’ time to begin the home buying process, and 2012 seemed to offer the right alignments. Declining inventory coupled with historically low interest rates and reasonable home prices made for an attractive time to jump into the market. We saw a steady return of first-time home buyers and a significant number of move-up buyers. This trend is extending into 2013 with interest rates expected to remain historically low.”
Stevens, who is the owner/broker with Century 21 Nason Realty in Winslow, said, “Although December is traditionally a slower time of year for real estate, many sellers understand the importance of having their homes on the market when buyers are out looking. A home not listed is a home not sold. This lower inventory of available homes may work more in a seller’s favor than in previous years. As the market continues to pick up speed, sellers are quickly recognizing that they are headed back towards a more level playing field in the coming year.”

Source: Maine Real Estate Information System, Inc. Note: MREIS, a subsidiary of the Maine Association of REALTORS, is a statewide Multiple Listing Service with over 4,100 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 Bart Stevens (Century 21
Nason Realty, Winslow) 873-2119 - Barton@C21Nason.com; President-Elect Angelia Levesque (RE/MAX Advantage Realty Group) – 942-8100 - angelia.levesque@yahoo.com - For more names: suzanne@mainerealtors.com.