Sales of existing homes in York County were down by 4.39 percent in the rolling quarter that began May 1 and ended July 31.
But there’s a silver lining.
The median sales price of an existing single family home during the same period was up by 8.11 percent, or by $19,500, from $240,500 to $260,000, according to the Maine Association of Realtors.
Statewide, the median sales price for a single-family existing home increased 4.20 percent to $206,000, comparing July 2017 to July 2016. Homes sales were off by slightly less than one percent in July across Maine. Figures by county are not available for the month.
The Maine Association of Realtors says a tighter-than-normal home inventory level led to the decrease in sales.
“Active for-sale listings are down 15 percent in July (statewide) compared to a year ago, with continued low inventory levels causing price gains that exceed income growth,” said Greg Gosselin, president of the Maine Association of Realtors.
He said the tight market conditions are keeping some prospective buyers on the sidelines, particularly in southern Maine.
Jane Frankland, president of the York County Council of Realtors, said there are more properties on the market now than there had been, but inventory remains tight.
“We’re hoping it will loosen up a little,” said Frankland of the look ahead of the fall.
She said homes priced below $125,000 are snapped up before they hit the market, while those prices from $150,000 to $250,000 move swiftly and owners get multiple offers — often resulting in more cash than the asking price.