MAINE HOME SALES DECREASE 30% IN JULY: In a press release today, MREIS reports Maine home sales decreased 30.07% in July 2010 compared with July 2009. The decrease was anticipated, reflective of the end of the federal tax credit which had created an accelerated demand to go under contract by a specific date. National home sales figures show a 25.6% decrease in that same time period, and the Northeast a 30.03% decrease.
However, Maine median home sales prices are still increasing. The median sales price rose 4.23% to $172,500 in July 2010, compared with July 2009. Median indicates half sold for more and half for less.
Hancock county up 1.9%
Penobscot county down -12.59%
The numbers are not as discouraging as the headline reads considering this is the first month after the expiration of the tax credit. Prices are low, rates are AMAZING. What a great time to be a buyer!!
About Justin Cartier
