Processing Your Payment

Please do not leave this page until complete. This can take a few moments.

Poll results

Sponsored by: OTELCO

Maine's residential real estate market is scorching hot, with the median price for a home reaching $310,000 in June. That's a 25% increase over the figure for June 2020. The number of sales also increased by nearly 15% from a year ago.

Homes are now going under contract in less than a week, after averaging twice as long on market in 2020 and 2019.

Of course, what you get for your money can vary widely, as Mainebiz found when we recently canvassed six parts of the state.

 

Have Maine's soaring home prices influenced decisions about the future of your business or your personal life?
Yes (56%, 135 VOTES)
No (44%, 105 VOTES)
Poll Description

Sponsored by: OTELCO

Maine's residential real estate market is scorching hot, with the median price for a home reaching $310,000 in June. That's a 25% increase over the figure for June 2020. The number of sales also increased by nearly 15% from a year ago.

Homes are now going under contract in less than a week, after averaging twice as long on market in 2020 and 2019.

Of course, what you get for your money can vary widely, as Mainebiz found when we recently canvassed six parts of the state.

 

  • 240 Votes
  • 4 Comments
View recent polls

Sign up for Enews

4 Comments

  • Mary Kozicki LaFontaine
    August 4, 2021

    Yes. We have delayed selling our house and buying a smaller one. While we could get more than anticipated for ours, we know we will pay more for the next one and it will likely not hold that value for more than a few years. As I move into retirement, I do not want to owe more than a house is valued at within a few short years.

  • August 4, 2021

    Inflated real estate prices have increased my portfolio and allowed me to borrow more against it to put into investments that are not subject to this bubble.

  • August 3, 2021

    As my husband and I anticipate retiring within the next 10 years, we had started looking around for homes/property with the idea that we could take our time deciding what/where to buy. As prices soared, we completely quit looking, thankful that we have some time. We are hopeful that things will return to "normal" before we HAVE to purchase. However, as minimum wage increases exponentially and inflation soars, I am not hopeful that our lifetime of savings from jobs with modest Maine salaries will hold up all that well into our retirement years.

  • August 2, 2021

    Sadly this is a repeat of the 2008 real estate travesty only dressed up as a different character. As with the ocean - the tide rolls in and then recedes. Caution should be the word of the day / week / month. After 45 years plus in this industry - this is not a new phenomenon....the next chapter is already written.