A few statistics with very little comment… MREIS (Maine Real Estate Information System) reports that 13.84% fewer homes were sold than in April 2009 than April 2008. The median sales price eased 10.21% to $160,000, continuing the trend of greatest sales activity being lower priced properties. Median indicates that half the homes sold for more and half for less than that amount. Nationwide, sales were down 2.8 percent compared to April 2008. According to NAR, the national median existing single-family home price decreased 14.9% to $169,800.
To add some perspective… So far this year (as of May 26) there have been 15,079 new listings throughout the state with 3,659 sold. The “balance on hand” is 27,008 with slightly less than 10% of those listing “under contract.”
Don’t you feel better knowing that?