Maine’s real estate slump shows no sign of a turnaround.
Existing home sales in the state fell last month by nearly 25 percent from June 2007. During that one-year period, the median sales price dropped by nearly 6 percent.
The figures were announced yesterday by the Maine Real Estate Information System, which monitors home sales throughout the state.
Realtors sold 996 homes last month, down from 1,316 in June of last year. During the past 12 months, the median sales price of an existing single-family Maine home fell from 199,950 dollars to 188,000 dollars.
Declines in median prices were recorded in 11 Maine counties over the past six months, while prices increased in Aroostook, Franklin, Oxford, Waldo and Washington counties.