List of Maine's 10 ‘hottest’ towns for real estate has some changes, surprises
Photo / Courtesy City of Saco
An aerial view of Main and Elm streets running south through historic downtown Saco.
Hampden, Kennebunkport and Biddeford top the list of “Maine’s Hottest Towns of 2024,” according to a company that combed through last year's residential real estate sales.
The report, compiled by Scarborough-based Maine Life Real Estate, ranks towns (and some cities) with notable increases in unit sales and highlights shifts in market dynamics and changes in median sales prices.
“This year’s 'Hottest Towns' report reflects not just numbers but the quality of life that makes Maine special,” said Rob Edgerley of Maine Life Real Estate. “We’re seeing growth and resilience across the state, often in areas that haven’t made the list before. It’s exciting to help our clients find their place in these dynamic communities.”
Edgerley told Manebiz that looking ahead to 2025, he expects continued growth in the more affordable suburbs in Greater Portland. Revitalized cities like Biddeford and Sanford are drawing more attention and have seen steady growth in the last few years.
"As affordability and access to amenities remain top priorities, these areas are well-positioned for sustained interest," said Edgerley.
Bethel, which topped last year's list, did not make this year's top 10, nor did Rockland, which topped the list two years ago.
Here are Maine's Hottest Towns of 2024, according to Maine Life Real Estate:
- Hampden, a Penobscot County town with a population of 7,975, saw its median sales price surge 15%, to $377,450. The number of units sold spiked by 50%. Edgerley said Hampden is the first town to top the list twice since he started the report in 2017. Hampden's mix of affordability and proximity to amenities make it appealing, and the increase in unit sales underscores the demand for towns that balance value with quality of life.
- Despite a 22% decline in the median sales price, to $929,500, Kennebunkport in York County claims the second spot with a 42% increase in units sold. The shifting market suggests buyers have been able to enter the high-end market with a broader range of price points.
- Biddeford in York County ranks third, boasting a 3% increase in the median sales price, to $450,000, and an impressive 38% rise in units sold. Over the past couple of years, the city has seen improvements to the downtown, while its historic mills have been repurposed into apartments, shops, breweries and several new restaurants.
- York took fourth place this year with a 14% increase in the median sales price, to $799,900, and a 37% surge in units sold. York combines beaches and a vibrant community with history, having been established in 1641.
- Bridgton saw a 3% increase in the median sales price, to $394,225, and a 35% rise in units sold. "Nestled in Maine’s Lakes Region, this charming town offers access to outdoor adventures and a vibrant local community, making it increasingly popular among buyers," Edgerley said.
- Saco saw a 7% increase in the median sales price, to $533,200, and a 32% growth in units sold. "With its beaches and historic downtown, Saco offers a blend of recreational opportunities and community charm," Edgerley said. The city has added new restaurants to its downtown and has been developing its U.S. Route 1 corridor with retail, coffee shops and housing. The city is also investing in its elementary school.
- Wells in York County had a 31% rise in units sold while experiencing an 11% drop in the median sales price, to $410,000. Wells has beaches and an influx of summer visitors.
- Kittery saw a 1% increase in the median sales price, to $569,900, and a 30% rise in units sold. Its history dates back to 1647. Kittery has been busy adding affordable apartments and new businesses, including clothing retailers.
- Harpswell saw a 28% increase in units sold despite a 5% decline in the median sales price, to $711,750. Known for its waterfront areas and island life, the town boasts over 200 miles of coastline, more than any other town in Maine, making it a “haven for those seeking Maine’s coastal beauty.” In 2023, the town ranked No. 3.
- Windham had a 3% increase in the median sales price, to $464,250, and a 27% rise in units sold. It is an easy commute to Portland, but also bills itself as the Gateway to the Lakes Region, offering boating, fishing and outdoor fun.
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