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The asking price for Maine real estate is increasing. Prime Real Estate Prices in Portland Maine Because sellers receive multiple offers within the first 48 hours, many buyers give offers above the asking price. Wine cellars, swimming pools, an extra-large living space with a guest house, and expansive square-foot homes are among the top characteristics buyers want. Additionally, because interest rates are at an all-time low, buyers are taking advantage by seeking out homes with extra amenities.
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Over one-third of buyers currently snagging up real estate in Maine are from major cities in other states.Ĭompanies that buy houses in Maine, along with the rush of cash buyers and big spenders to the state, created a more significant demand for high-tech features. As more people in high-paying fields can work remotely full-time, the prospect of trading the chaos of big cities for the tranquility of rural life is more attainable. The most notable change in the state over the last year is the uptick in out-of-state buyers. Statewide, the amount of time a house is on the market is an average of six days. Despite a slight dip in the number of houses sold, the Maine real estate market is experiencing a massive boom that shows no signs of slowing down. Maine’s number of homes for sale has fallen 34.9%, while prices increased almost 20%.