Annual sales of Maine’s existing, single-family homes jumped an impressive 13.60 percent in 2013. According to Maine Listings, 13,088 homes changed hands during the 12-month period of 2013. The statewide yearly median sales price (MSP) increased 2.94 percent to $175,000. The MSP indicates that half of the homes were sold for more and half sold for less.

Nationally, December single-family existing home sales eased 0.7 percent. The National Association of Realtors today reported a national MSP of $197,900 — an increase of 9.8 percent in the past 12 months. Sales in the regional Northeast were 3.2 percent higher than one year ago and the regional MSP rose 3.6 percent to $239,300.

“Last year started out very strong with buyers hoping to take advantage of historically low interest rates,” said Angelia Levesque, 2014 president of the Maine Association of Realtors. “With low inventory levels, homes that were priced right sold very quickly. This renewed interest, sparked multiple offer situations in certain markets and helped increase home prices. Sellers heard of this activity and started listing their homes.”

“We are currently seeing more first time homebuyer activity and a bit of an inventory shortage in the entry-level price range,” Levesque said. “I have spoken with Realtors from all over the state this week and they believe we are off to a good start in 2014; they are fielding calls from sellers interested in marketing for spring.”

The chart below compares the number of existing, single-family homes sold (units) and volume (MSP) in Maine during the full 12 months of 2012 and 2013.

From January 1, 2012 to December 31, 2012 and

January 1, 2013 to December 31, 2013

Full Year Chart

From January 1, 2012 to December 31, 2012 and

January 1, 2013 to December 31, 2013

County           # Units Sold     # Units Sold      % Chng MSP                    MSP                   % Chng

                              2012               2013              2012                          2013

STATEWIDE            11521            13088        13.60%                $170,000     $175,000    2.94%

  Androscoggin         768               827              7.68%                 $133,250        $135,000       1.31%

  Aroostook               363                386              6.34%                 $83,000         $89,700        8.07%

  Cumberland           2965             3432            15.75%                $226,000       $242,000      7.08%

 Franklin                  239                300              25.52%               $116,000        $125,000       7.76%

  Hancock                 532                555              4.32%                 $179,950        $185,000      2.81%

  Kennebec               991                1096            10.60%               $130,000        $134,250       3.27%

 Knox                       395                447              13.16%                $182,000        $176,000      -3.30%

  Lincoln                   355                425              19.72%               $184,900       $220,000      18.98%

  Oxford                    507                543              7.10%                 $130,000        $130,687       0.53%

Penobscot               1105               1235             11.76%                $129,000        $135,000       4.65%

 Piscataquis             175                183              4.57%                 $80,000         $65,000        -18.75%

  Sagadahoc             334                366              9.58%                 $171,500         $175,500       2.33%

Somerset                338                403              19.23%               $105,000        $91,000      -13.33%

  Waldo                     318                370              16.35%               $148,000       $154,500       4.39%

  Washington           207                233              12.56%               $99,000         $94,000        -5.05%

  York                        1929              2287            18.56%               $215,000        $220,000      2.33%

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.