The Top 10 Hottest Real Estate Markets in Maine Right Now
It's not breaking news that Maine's real estate market is on fire!
If you are looking for a house, you know - it's pretty crazy right now. Or if you are sitting in your home, you are probably sitting on a gold mine! But a tricky one. Sure you could probably sell your house for a small fortune, but according to Maine Life Real Estate, you're gonna need a bigger fortune to buy something else! MLRE listed cities and towns with the hottest home sales right now. The number one place is a bit surprising...
We know it's beautiful and apparently, the word is out! Home sales shot up 26% in 2021 and the average price of a home in Belfast also shot up. In 2020, the median price for a house was $245,000 and in 2021 was up to $300,000. That's the second-highest jump on the list!
2. PRESQUE ISLE
Home sales were up 21.6% and that got this small city wayyyy up north on the list for the very first time!
Not shocking that Portland had a boom in home sales up 20.6%. The shocker might be the price tag up from $365,000 to an average of $463,000. That's an increase of almost 27%. My brother was thinking about moving here from Idaho - but prices (oh and that pesky winter) will probably keep him away.
4. OLD ORCHARD BEACH
Can you imagine living here? Home sales were up 18.6%, so many people can! An average home will run you about $362,500 up 20.8%.
Home sales are up 15.2% in Westbrook. Remember when Westbrook was the place to move OUT of? Now with Rock Row, it's THE happening place and not cheap. The average price of a home right now is $340,000 up 17.2%.
It appears that the spillover from the Lewiston / Auburn area is Lisbon. Home sales were up 14.5% and prices were up 12.4%. The average home in Lisbon will run you around $240,000 or about half of the price to live in Portland. Might be why home sales were up 14.5%!
It's so beautiful in Naples with Sebago Lake as your backdrop. Home sales are up 12.1% and prices went up almost 17%. The average price of a home last year was $300,000. I predict next year Naples will move up on this list. Shhhhh, don't tell New York!
Bangor is Maine's third-largest city behind Lewiston. It's a couple of hours north of Portland but seems like a quick drive when you are going to a concert. Home sales were up 11.2% in 2021 and prices were up 11.2% also. It's a bargain in Bangor with the median price for a home a comfy $198,000.
With home sales up 9.8% and less than an hour from Portland, Augusta is expanding. The average price of a home is around $200,000. Plus you could brag to all your friends that you live in Maine's capital!
Welcome to the new Cape Elizabeth. Home sales last year were only up 7.4% making Scarborough coming in last of the top 10. But there's a reason for that. The average sale price for a home in 2021 for Scarborough was (I hope you are sitting)...HALF A MILLION DOLLARS! Yes, $500,000! Holy cow! Homes in Dallas, Texas are 51% cheaper! If you have a friend who lives in Scarborough, tell them to sell their house and get 2 in Augusta and have 100 grand to spare!