Statewide, year to date sales volume of single family homes and condominiums hit the highest level since 2008. Compared to 2012 the number sold rose to 12,628 from 11,264 representing a 10% increase. The average sale price rose 4% to $209,000.
Penobscot County made an even better showing in the increase in homes sold with a 10.6% increase to 1096 from 980 in 2012. Single family homes sold for a 5% higher price than in 2012 at an average of $141,500.
The Bangor Area (including: Bangor, Brewer, Glenburn, Holden, Hermon, Hampden, Orono, Orrington, Old Town and Veazie) had stronger numbers with a year to date home sales dollar volume increase of 17.3%. This wave of home buying caused the average sale price to rise 7.8% to $161,400.
Homebuyers lined up to purchase homes this spring, hoping to ‘lock into” historic low interest rates. As rates did, in fact, begin to climb, another surge of home buying stimulated homes sales in late spring.