YORK COUNTY — Sales of existing single-family homes in York County were up nearly 26 percent in the three month period ending Feb. 28 over the same time frame last year, according to data released Monday by the Maine Association of Realtors.
Statewide, the number of existing single-family homes sold during the same period was up 16.69 percent over last year, the association reported. Overall, for the month of February alone, sales statewide were up 21.72 percent.
Greg Cloutier, president of the York County Council of Realtors, expects the trend to continue.
“I would expect the next quarter to be as busy as the first quarter,” said Cloutier, broker and manager at Berkshire Hathaway Home Services in Saco. “The market has been moving in a positive direction for well over a year now. The listing inventory is tighter within some of the York County towns and cities. The interest rates are still at historic lows and the loan programs are very advantageous to buyers.”
Cloutier said new homes in York County are selling too.
“The new construction market seems to be as busy as it has been in many years,” he said. “It is very exciting to see home buyers as well as home sellers excited about the market.”
Nationally, sales of single-family existing home sales increased just 2 percent in February, the Maine Association of Realtors reported, with the Northeast experiencing a 5 percent sales jump in the past year.
Maine Association of Realtors figures show that in York County, 567 existing single-family homes were sold from Dec. 1, 2015, through Feb. 28, 2016, up from 451 during the same period the previous year – resulting in that 25.72 percent jump.
The greatest percentage of single-family homes sold in Maine during the period was in the state’s easternmost – and some say poorest – county.
Washington County home sales increased a whopping 48.84 percent during the three-month time frame. But while the percentage is impressive, the figures show 64 homes were sold in Washington County during the period this year, as compared to 43 for the same period a year ago – far fewer than the number sold in York, the southernmost county. The median price was up significantly, though, from $72,500 last year to $97,000 this year.
The median selling price in York County for the three-month period was off by slightly less than half a percent, down from $216,000 last year to $215,000 this year.
Statewide, the median price increased slightly less than 1 percent, from $170,000 to $171,650.
Ed Gardner, president of the Maine Association of Realtors, said people looking to buy a home should consult with a real estate professional instead of relying solely on online information.
“If you’re thinking about buying this spring, consult with a Realtor who has unique local market knowledge and insights that can’t be replicated by online searching,” Gardner said in a statement.
— Senior Staff Writer Tammy Wells can be contacted at 282-1535, ext. 327 or twells@journaltribune.com.
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