SOUTH PORTLAND, Maine (AP) A report suggests limited availability of single-family homes is causing prices to grow.
The report by Maine Listings indicates median home prices grew 8.1 percent to $200,000 in April compared to the same period a year before. The report also shows 1,201 existing Maine homes were sold in April, an 8.6 percent increase, amid concerns of a tight market.
Kim Gleason, president of the Maine Association of Realtors, said Thursday that increasing sale prices are linked to limited inventory in some areas.
The report showed that median home prices jumped 35 percent in Aroostook County and 27 percent in Piscataquis County during a three-month period.
Nationwide, home sales for the month of April decreased by 1.6 percent compared with April 2017, while the median sale price increased by 5.5 percent.
