Latest home sales figures fuel optimism for Spring market

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Portland, ME – Latest figures for home sales indicate a rebound in the market for March over February fueling predictions for a buoyant spring selling season.

Sales across the country gave cause for optimism after an improving performance over last month’s statistics.

Realtors across Maine reported 1089 sales of existing single family homes in March an increase of 14.63% over the same month last year according to Maine Listings.

Home values were also on the rise with a 7.35% increase in the median sale price (MSP) to $182,500. The MSP indicates that half of homes were sold for more and half sold for less.

Nationally sales were up by 2.6% and regionally in the North East 7.7% with the median sales price up 5.8 % to $224,300 and 5.8% to $254,100 respectively.

“Closings came back in force last month as a greater number of buyers overcame depressed inventory levels and steady price growth to close on a home,” says National Association of Realtors, Chief Economist Lawrence Yun.

Click here for more information for county-by-county numbers for Maine.

Deciding whether to sell or not? Call us today to see how much your property is worth in today’s market on 207-553-2662.

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