The federal tax credit did in fact have an impact on homes sales in Maine. As evidence, sales in April were up 63%, as this represented the last month of the program.
Maine Homes Sold
A total of 994 single family homes in Maine were sold during the month of April, a 63% increase compared with April 2009, according to a press release from the Maine Real Estate Information System.
The median sales price increased 3.4% over April 2009 to $165,450. The biggest year-to-year increase was in Franklin County, where 50 homes were sold in April, a 108% increase from last April’s 24 homes.
All 16 counties saw a hike in home sales of at least 20%. Median sales prices by county varied, however, from a nearly 22% drop in Knox County to an 82.69% increase in Washington County.
In the Northeast region, sales increased 42%, while the median sales price rose 2.1% to $243,000. Nationwide, home sales rose 20.5%, and the median sales price also increased 4.5% to $173,400.
Michael, along with his wife Laura, is co-owner of Maine Home Connection, an independent real estate company located in Portland. Maine. Together they started the brokerage from scratch with a new vision of what a company could look like if it focused completely on the needs of our clients and our agents.