Maine real estate market continues to show signs of improving. According to Maine Real Estate Information System (MREIS), a total of 945 homes were sold in October, an increase of 6.78% since October 2010.
The National Association of Realtors (NAR) reported a nationwide sales increase of 13.8% over the past 12 months. The national MSP declined 5.8% to $161.600. Regionally, sales in the Northeast rose 1.4% and the regional MSP decreased 5.5% to $224.400.
MAR President Mike LePage, owner of RE/MAX Heritage in Yarmouth, says there are more positive signs in Maine’s single-family real estate market. “The chart shows the majority of Maine’s counties showed significant gains. The winner this rolling quarter is Somerset County with a 38.10% sales gain over last year; their median sales price rose 39.85% as well.” LePage continues, “Real estate is a rare investment that you get to physically enjoy regardless of the market. Real estate is a great investment.”
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