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V O L . X X I I I N O. X X V I O C T O B E R 3 0 , 2 0 1 7 14 B U S I N E S S M A I N E B U S I N E S S M A I N E B U S I N E S S N E W S F RO M A RO U N D T H E S TAT E e Bangor Daily News reported that FAME spokesman Bill Norbert confirmed that Arctaris rescinded its request for the state agency to insure 90% of its proposed loan to Stored Solar, a subsidiary of the French energy firm Capergy, which purchased the two plants from Covanta Energy in October 2016. e company recently filed reports with the Maine Public Utilities Commission that show a sig- nificant decline in energy output and biomass purchasing over the second quarter of this year. N O T E W O R T H Y N O R T H E R N & E A S T E R N U.S. Sens. Susan Collins and Angus King announced that Shaw House, a nonprofit in Bangor that serves home- less and at-risk youth, will receive $145,937 through the Administration for Children and Families to fund its Basic Center Program for homeless and runaway youth and their families. University Credit Union in Orono introduced MoneyIsland, a free video game-based financial literacy program designed to help kids ages 8-14 learn basic money skills while earning prizes. these are my people I N V E S T M E N T M A N A G E M E N T T R U S T S E R V I C E S F I N A N C I A L A D V I C E E S T A T E P L A N N I N G N O R WAY S AV I N G S A S S E T M A N AG E M E N T G R O U P • Not FDIC Insured • No Bank Guarantee • May Lose Value PORTLAND 207. 482.7920 | AUBURN 207. 791.2110 | NorwaySavings.bank Low inventory driving home prices B y M a u r e e n M i l l i k e n Pent-up demand and low inventory helped drive September home prices up 10.26% compared to last September, con- tinuing a five-year trend. The Maine Association of Realtors reported that the number of existing single-family homes sold is 2.3% higher than September 2016. Nationally, home sales are down and the price increase is half of Maine's. "Maine has been riding the wave of the real estate recov- ery for the past five years, and 2017 is shaping up to be one of the best years of the recovery," said Greg Gosselin, broker-owner of Gosselin Realty Group in York and 2017 president of the association. He said year-to-date statistics are 1.5% behind 2016's all-time high. The number of homes sold in September statewide was 1,772 this year, compared to 1,732 last September. The median price difference is $207,225 this year, compared to $188,038 last September. The difference for the third quar ter was 5.64% — $206,000 in 2017, compared to $190,000 in 2016. The number of homes sold for the quarter was 5,479, a 2.78% increase over last year's 5,282. Nationally, sales were down 1.2% for September compared to a year ago. The national MSP rose 4.2% to $246,800. In the Northeast, sales were down 1.4% for September and the median sales price was up 4.8%, to $274,100. Gosselin said that for-sale inventory levels are well below 2016, but the number is improving. "Our statistics indicate that additional for-sale homes are coming on the market, which is addressing some of the pent-up demand and fueled this strong third quarter," he said. "Properties that are well-staged and priced appropriately based on their location and condition are selling quickly." Median sales price for the quarter increased in 13 of the state's 16 counties, from 29.50% in Washington County to 0.67% in Androscoggin County. Three of the state's counties showed drops in median sales prices compared to last year's third quarter: Aroostook, Lincoln and Sagadahoc. Washington County's 29.50% increase represents a median price of $129,500 compared to last year's $100,000. The biggest drop in median sales price was Lincoln County, at 6.67%, $210,000 for this year's third quarter compared to $225,000 last year. The highest median price in the state is in Cumberland County, at $295,000. That's a 7.27% increase over 2016 third quarter, which was $275,000. The county showing the biggest gain in sales for the third quarter, was Androscoggin, with 16.18% rise in sales, and a median price increase of 0.67%, from $150,000 to $151,000. The county showing the biggest drop in sales for the quar- ter was Knox, with a 16.58% decrease. The median price in Knox rose 10.62%, at $211,000, from last year's $197,500. Seven of the state's 16 counties showed drops in sales of existing homes: Aroostook, Lincoln, Knox, Oxford, Sagadahoc, Washington and York. B R I E F

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