SOUTH PORTLAND (May 22, 2013) — The spring real estate sales season in Maine has arrived with double-digit sales increases. Maine Listings reported a 13.71 percent rise in sales of single-family existing homes during the month of April 2013. The median sales price (MSP) for the 937 homes sold statewide last month reached $174,900, an increase of 4.14 percent. The MSP indicates that half of the homes were sold for more and half sold for less.

According to the National Association of Realtors, nationwide sales increased 9.0 percent in the past 12 months, while the national MSP jumped 11.0 percent to $193,300. Regionally, single-family existing home sales in the Northeast rose 4.9 percent and the regional MSP of $245,100 reflects a 5.1 percent increase.

Androscoggin 155 144 -7.10% $133,000 $129,950 -2.29%

Aroostook 69 65 -5.80% $83,000 $76,900 -7.35%

Cumberland 558 622 11.47% $215,500 $228,950 6.24%

Franklin 52 46 -11.54% $120,000 $118,400 -1.33%

Hancock 89 106 19.10% $162,000 $178,800 10.37%

Kennebec 179 187 4.47% $122,000 $124,900 2.38%

Knox 75 66 -12.00% $195,000 $145,000 -25.64%

Lincoln 60 70 16.67% $170,000 $216,750 27.50%

Oxford 94 108 14.89% $108,500 $125,000 15.21%

Penobscot 203 226 11.33% $116,000 $121,000 4.31%

Piscataquis 35 40 14.29% $60,000 $97,500 62.50%

Sagadahoc 66 66 0.00% $175,125 $179,500 2.50%

Somerset 66 76 15.15% $93,750 $77,750 -17.07%

Waldo 50 62 24.00% $174,773 $157,000 -10.17%

Washington 36 31 -13.89% $108,750 $60,000 -44.83%

York 392 407 3.83% $193,500 $210,500 8.79%

Source: Maine Real Estate Information System, Inc. (d/b/a Maine Listings). Note: Maine Listings, 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.

Strong positive sales of single-family existing homes continue for Maine. According to the Maine Real Estate Information System, Inc., 1,255 homes changed hands in August 2012, a 15.14 percent increase over August of last year. The median sales price (MSP) for those homes rose 3.03 percent to $170,000. The MSP indicates that half of the homes were sold for more and half sold for less.

According to the National Association of Realtors, nationwide sales jumped 10 percent since last August, and the national MSP increased 10.2 percent to $188,700. Sales in the regional Northeast were up 8.6 percent and the regional MSP of $245,200 reflects a rise of 0.6 percent.

Tina Lucas, 2012 President of the Maine Association of Realtors, said, "The consistent increases in the number of homes sold along with the recent boost in median values leads to this conclusion: it seems buyers are comparing the value of owning vs. renting. Low interest rates and attractive pricing keep monthly payments down. Add the value of a mortgage interest deduction, property tax deduction and the opportunity to build equity over time and the decision to own comes out on top for those renters who are ready and financially able to purchase a home of their own.

"‘Home Brew’, the Maine Association of Realtors’ latest educational campaign, provides buyers with the right mix of ingredients to realize their dream of homeownership. At www.mainelistings.com/homebrew buyers are educated on topics including: improving a low credit score, considering a multi-family property and learning to recognize a home’s potential. A new video will soon illustrate the financial benefits of homeownership. According to recent data from the Federal Reserve Board, the average net worth of a homeowner is 34.2 times that of the average renter; highlighting the benefits of homeownership seems a worthy endeavor," said Lucas. For more information, search Home Brew on Facebook or follow on Twitter @HomeBrewMe.

Androscoggin 213 264 23.94% $140,000 $134,250 -4.11%

Aroostook 99 103 4.04% $80,000 $80,000 0.00%

Cumberland 800 943 17.88% $235,000 $229,900 -2.17%

Franklin 75 57 -24.00% $126,500 $119,000 -5.93%

Hancock 118 158 33.90% $165,000 $164,750 -0.15%

Kennebec 270 313 15.93% $140,450 $133,000 -5.30%

Knox 94 118 25.53% $174,000 $173,950 -0.03%

Lincoln 73 103 41.10% $185,000 $175,000 -5.41%

Oxford 140 154 10.00% $125,000 $135,250 8.20%

Penobscot 339 350 3.24% $137,000 $135,000 -1.46%

Piscataquis 56 52 -7.14% $75,000 $88,500 18.00%

Sagadahoc 93 108 16.13% $163,000 $170,000 4.29%

Somerset 90 107 18.89% $109,000 $110,000 0.92%

Waldo 78 89 14.10% $137,250 $146,000 6.38%

Washington 19 73 284.21% $90,000 $110,000 22.22%

York 512 596 16.41% $210,000 $227,500 8.33%

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.