Maine home sales, prices fall in October

SOUTH PORTLAND – Sales of existing homes in Maine fell nearly 14 percent in October, while the median sales price was down by more than 9 percent.

The figures were released Monday by the Maine Association of Realtors, which tallied 897 home sales last month. That compares with 1,041 sales in October 2007.

The median sales price statewide was $171,000, down from $188,500 a year ago.

For the three-month period through October, sales were down in 15 of Maine’s 16 counties with Washington County recording the only increase, 28.5 percent. Sales decreased 13 percent in Aroostook County, 24.3 percent in Hancock County, 35 percent in Knox County, 22.5 percent in Penobscot County, 33.8 percent in Piscataquis County, and 24.1 percent in Waldo County.

Median prices were lower in a dozen counties, but were up in Aroostook by 22.2 percent, Hancock by 17.5 percent and Oxford by 1.5 percent, and remained the same in Somerset.