Single family home sales continued strong through the first quarter of 2014. 27 properties were sold compared to 22 during the same period in 2013. This represents an increase of 22.7%, which significantly exceeded the results recorded for Cumberland County of 11.2%.
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The median price was also impressively up. The median price of $429,000 improved 18.7%, yet there were some noteworthy factors affecting this change.
Driving the price movement was the sale of high-priced luxury homes. In 2014 3 homes priced above $1,000,000 were sold January – March 2014 compared to zero in 2014. The median price for these homes was $1,400,000.
Interestingly, homes priced between $500,000 and $1,000,000 only increased by one, with eight sales in 2014. The median price of these homes decreased 11.1% to $584,500.
To get sales home sales information for other communities in Southern Maine, visit Maine Sales Update 2013 or download a complete report at: Maine Home Sales 2013.
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About the Author: Michael
