PORTLAND, Maine (AP) — Home sales in Maine soared in October, when the median sales price for homes was almost 25% higher than a year ago.
The volume of sales was up, too. The number of single-family existing homes increased by more than 26% over October 2019, the Maine Association of Realtors said.
Last year was Maine's best on record for home sales, and January through October 2020 sales are almost 6% ahead of 2019, said Tom Cole, president of the realtors association.
The surge in Maine mirrors are a broader trend around the country. The National Association of Realtors said national sales increased by more than 26% last month.
Out-of-state buyers are bringing demand for Maine homes, Cole said. That is because of factors such as the state's lower incident of the coronavirus compared to other states, and the increase in remote working conditions.
Sales were especially strong in some parts of rural Maine, though sales also increased in Cumberland and York counties.