On the Move!
The Maine Real Estate Market continues to be hot as buyers gravitate to Vacationland to take advantage of the spectacular landscape and the quality of life, and sellers capitalize on an opportune time to list their homes. The trend in the last several years was to see people wanting not just second homes but a primary home here in Maine and the pandemic just put that on steroids. Out-of-state buyers looking for a lifestyle change find Maine is more affordable, has an appealing culture, is laid-back, and has a variety of clean natural resources. This is not news to the more than 1.3 million residents who currently abide in Maine and enjoy its beautiful lifestyle. With demand reaching record levels, and inventory generally not keeping up, many Mainers are asking where did single-family buyers come from in 2021?
While the perception is that many buyers are from away, in 2021, most buyers who purchased Single Family homes actually came from within the State of Maine (65.77%). Maine’s out-of-state buyers came from Massachusetts (9.36%), followed by New Hampshire (4%), Florida (2.24%), New York (2.2%), and California (2.01%).
Whether you’re buying, selling, or building a home, Maine has so much to offer. Our Advice: Be ready! This continues to be an intense market. Buyers need to be prepared with a strong, clean contract and a pre-approval letter. Good listings are receiving multiple offers and often don’t even hit the market, so knowing about them ahead of time and getting in quick is key. Sellers need to have their homes in turn-key condition because that is what everyone is looking for right now. If you are thinking of buying or selling, now is a great time to explore your options and we are here to help.
Based on information from Maine Real Estate Information Systems, Inc. (d/b/a Maine Listings) figures pulled on January 21, 2021, for the period of January 1, 2020, through December 31, 2021. © 2020 Maine Real Estate Systems Information System Inc.
