The real estate market in Maine continued its slow recovery last month with 494 units sold, compared with 433 sold in February 2009, an increase of 14%. The median price for homes sold in February was $158,000, in line with numbers reported in February 2009. This compares with 555 units sold in February 2008 and 698 in February 2007. The median sold price in February 2007 was $193,950, 18.5% higher than February 2010. These figures are courtesy of the Maine Real Estate Information System, Inc.
According to The National Association of Realtors, existing home sales nationwide rose 4.3 percent in February 2010 compared to February 2009. The national median sales price for those homes dipped 2.1 percent to $164,300. Regionally, sales in the Northeast were up 12 percent and the regional median sales price increased 7.5 percent to $254,700.
In Cumberland County, the median sales price measured in sales from December 2008 - February 2009 compared with December 2009 - February 2010 rose slightly to $223,000.
So what do you think? Do these numbers indicate a recovery in your community?
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