While Maine sales in February improved, year-to-date results are still significantly below prior year. Single family home sales in February 2019 were 818 units versus 826 in February 2018.
February sales in Cumberland County were up 2% for the month while York County was essentially flat. Both southern Maine counties are behind prior year by double digits – as are many of the towns we follow.
The median price across the state is flat for the first two months of the year, as is Cumberland County. Interesting, Portland recorded its second highest median price ever – $327,000 for the month of February.
Properties under contract (pending) have increased for two straight months after reaching their lowest level of the past 12 months in December – yet still lower than any month last year.
Additional details are available on our website, at Real Estate Sales Update.
National & Regional Results
According to the most recent report from The National Association of Realtors (NAR), sales across the country were down 1.4% in February while the national MSP of $251,400 represented a 3.6% increase. Regionally, sales in the Northeast increased 1.5% and the MSP rose 3.8% to $272,900.