Maine home sales fall 30 percent in July from year ago, but prices increase

Maine home sales fall 30 percent in July

SOUTH PORTLAND, Maine — A real estate group says the expiration of the federal homebuyer tax credit caused existing-home sales to drop by 30 percent in Maine last month.

The Maine Realtors Association said Tuesday that real estate agents sold 807 homes in July, down from 1,154 in July 2009. The median price, however, increased 4.2 percent to $172,500.

For the three-month period from May through July, home sales in Maine were virtually flat compared to a year ago, while prices rose 3.8 percent.

Cumberland County has the highest median price at $235,000. Aroostook County has the lowest median price, coming in at $85,000.