SOUTH PORTLAND (January 27, 2009)—Sales of Maine’s single-family existing homes fell 15.84 percent in December 2008 and 20.91 percent for all of 2008. According to the Maine Real Estate Information System, Inc., Realtors sold 9,502 homes last year, compared to 12,014 in 2007. The median sales price for those homes decreased by 12.63 percent in December and was down 7.22 percent for all of 2008. The median sales price indicates that half of the homes were sold for more and half sold for less

The statewide median sales price in Maine was $99,990 in 1998. The statewide median salesprice is $180,000 for 2008 showing considerable long-term strength.  Nationally, sales of single-family existing homes dipped 1.4 percent in December 2008.  According to the National Association of Realtors (NAR), nationwide sales for all of 2008 dropped 11.9 percent. Sales in the Northeast decreased by 14.3 percent. NAR reports a $235,000 regional median sales price—a drop of 7.8 percent.

Douglas Erickson of Coldwell Banker Commercial SoundVest Properties in Rockland relays,  “If there is ever a need for a professional to sell a property, it is now. A Realtor has the experience and knowledge to sell a property better in these changing times and is able to expose a property to potential buyers using a variety of media, including websites. Realtors are better trained to cope with negotiations.”