February saw a hike in real estate values in Maine compared to the year before, but a decline in the number of homes sold.
The Maine Association of Realtors says the statewide median was up 12.5 percent to $180,000 during the month of February. However, sales eased almost 13 percent.
Association President Greg Gosselin says stormy weather last month had an effect on sales numbers, as did this not being a leap year. He says a major contributor to the price increase is tight inventory.
“Good example: Today, in the lower price range of affordable housing, first day on the market yesterday, brought my clients out there this afternoon to look at the property. Came back, put an offer in, we’re in a multiple-offer situation,” he says.
Gosselin says he’s hearing about multiple offers across the state.
