Home affordability in Maine remains favorable for buyers; single-family existing home sales jumped 7.25 percent last month. According to Maine Listings, 1,302 homes changed hands in May. Realtors reported a median sales price (MSP) of $169,950—a 4.79 dip in the past 12 months. The MSP indicates that half of the homes were sold for more and half sold for less.

Nationally, sales decreased 5.7 percent in the past year. The National Association of Realtors today reported a national MSP of $213,600—a rise of 4.9 percent since May 2013. Sales in the Northeast were down 3.1 percent and the regional MSP eased 0.9 percent to $256,700.

Angelia Levesque, President of the Maine Association of Realtors, said, “With summer finally here, and tourists entering the buying market, we are seeing volume increases. High inventory levels in some areas of the state are keeping prices down, and the market is adjusting. When you combine that information with low interest rates, it indicates a great time to buy.”

Levesque, a realtor with Better Homes and Gardens Real Estate/The Masiello Group in Bangor, said, “Buyers want to be close enough to walk to shops, restaurants and services. To entice that market, bump up your home’s curb appeal. Paint the front door, plant flowers and keep the lawn neat and tidy.”