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Maine home sales continue to surge with rural counties seeing biggest increases

Hancock County led the way with a 56% increase in home sales in October, compared to a year ago.
Hancock County led the way with a 56% increase in home sales in October, compared to a year ago.
Hancock County led the way with a 56% increase in home sales in October, compared to a year ago.(WABI)
Published: Nov. 19, 2020 at 3:03 PM EST
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PORTLAND, Maine (WMTW) - Home sales in Maine continued their recent spike in October.

According to the Maine Association of Realtors, home sales were up nearly 27% compared to a year ago, and the median sales price was up more than 24%.

The Maine Association of Realtors said more than 2,300 single-family homes were sold in October. The median sales price was $280,000.

The group said 36% of home sales were by out-of-state buyers. Historically that number is 25%.

“Maine’s lower incidence of COVID compared to the rest of the country, plus the increase in teleworking, has resulted in out-of-state buyers adding to the demand for Maine homes,” Maine Association of Realtors President Tom Cole said.

According to the October data, Maine’s more rural counties saw the largest percentage increase in home sales.

Hancock County led the way with a 56% increase in home sales in October, compared to a year ago.

Washington, Waldo, Lincoln, and Knox counties also saw home sales increase more than 40%.

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