Top 10 Hottest Real Estate Markets in Maine Right Now
It’s not breaking news that the Maine real estate market is on fire!
If you’re looking for a house, you know – it’s pretty crazy right now. Or if you’re sitting at home, you’re probably sitting on a gold mine! But tricky. Sure, you could probably sell your house for a small fortune, but depending on MaineBiz, you’re going to need a bigger fortune to buy something else! MaineBiz cities and towns listed with the hottest home sales right now. The first place is a bit surprising…
We know it’s beautiful and apparently the word is out! House sales have jumped 26% in 2021 and the average price of a house in Belfast has also jumped. In 2020, the median price of a house was $245,000 and in 2021 it reached $300,000. This is the second highest jump on the list!
Home sales increased by 21.6% and that put this little town far north on the list for the very first time!
Not surprisingly, Portland experienced a boom in home sales up 20.6%. The shock could be the price of $365,000 at an average of $463,000. This is an increase of almost 27%. My brother was thinking of moving here from Idaho – but the prices (oh and that pesky winter) will probably keep him away.
Can you imagine living here? Home sales are up 18.6%, so a lot of people can! An average home will cost you around $362,500 up 20.8%.
Home sales rose 15.2% in Westbrook. Remember when Westbrook was the place to move OUTSIDE of? Now with Rock Row, it’s THE Happening place and not cheap. The average price of a home is currently $340,000, up 17.2%.
It appears that the spillover from the Lewiston/Auburn area is Lisbon. Home sales increased by 14.5% and prices by 12.4%. An average house in Lisbon will cost you around $240,000, which is about half the price to live in Portland. This may be the reason why home sales increased by 14.5%!
It’s so beautiful in Naples with Lake Sebago in the background. Home sales rose 12.1% and prices rose nearly 17%. The average home price last year was $300,000. I predict that next year Napoli will rise on this list. Hush, don’t tell New York!
Bangor is Maine’s third largest city behind Lewiston. It’s a few hours north of Portland, but seems like a quick drive when you’re going to a concert. Home sales increased by 11.2% in 2021 and prices also increased by 11.2%. This is a bargain in Bangor with the median price of a comfortable home at $198,000.
With home sales up 9.8% and less than an hour from Portland, Augusta is booming. 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 rose just 7.4% last year, making Scarborough last in the top 10. But there’s a reason for that. The average sale price of a house in 2021 in Scarborough was (I hope you are seated)…HALF A MILLION DOLLARS! Yes, $500,000! Holy cow! Homes in Dallas, TX are 51% cheaper! If you have a friend who lives in Scarborough, tell him to sell his house and buy 2 in Augusta and have $100,000 in reserve!
The 25 most expensive homes for sale in Maine in June 2021
These are the 25 most expensive homes in Maine that we found through a search on Zillow.com as of June 23, 2021.
Comparing Two Very Different Modern Maine Homes For $300,000
With the housing market still unique in Maine and even crazier due to the pandemic, what can $300,000 bring you in June 2021? Here is a breakdown of the two properties. One in the heart of downtown Portland and the other in Somerset County in St Albans.
So, which property do you prefer?