Brokers in Southern Maine say the tides are starting to show after a pandemic-era whirlwind of second-home shopping for alongside the state’s coast and lakes.
Native brokers from York and Cumberland counties talking with Bangor Each day Information mentioned financial uncertainties and appreciating residence values are driving owners to money out on their second houses.
“With financial volatility looming, many need the consolation of liquidity,” Tom Landry, an actual property agent in Portland with Benchmark Actual Property, instructed the Bangor Each day Information.
Maine’s energetic listings in March elevated by greater than 27% in comparison with the identical time final 12 months, in keeping with Realtor.com.
12 months-over-year listings in March spiked in Portland and Cape Elizabeth, the Bangor Each day Information reported, suggesting elevated market exercise in two well-liked areas for Maine tourism.
Caleb DeVries, an agent with Advisors Dwelling, instructed the outlet that his telephone is ringing extra this 12 months, and a majority of calls are from sellers.
The whiplash is actual — two Southern Maine counties ranked among the many hottest markets for second-home transactions by luxurious residence co-ownership startup Pacaso as lately as 2023. York County and Cumberland County, which embody hotspots like Portland, Cape Elizabeth and Kennebunkport, ranked among the many high 10.
Second owners in Maine have a lot to achieve from cashing out early.
“For patrons, that is the very best market we’ve seen in years: extra choices, much less competitors and motivated sellers,” Landry instructed the Bangor Each day Information. “However patrons want a technique. Not every part is flying off the shelf.”
The median residence sale value in Maine’s York County — a preferred website for trip houses — elevated by 34% between 2022 and 2025, in keeping with Realtor.com.
Owners who purchased alongside the coast or lakes even just some years in the past may reap in six-figure good points, in keeping with Realtor.com, whereas the market is wholesome.
