Real Estate Insider notebook: One Maine home broker averaged sales of $890,000 last year
COURTESY / LEGACY PROPERTIES SOTHEBY’S INTERNATIONAL REALTY
A 483-acre residential complex on Craig Pond in Orland sold for $8.25 million, a record lakefront sale in Maine for 2022.
Legacy Properties Sotheby’s International Realty said it sold Maine properties totaling $845 million last year, tallying a record average price in the process.
Legacy had 949 sales last year, with an average price of $890,000, the firm said.
Legacy has offices in Portland, Kennebunk, Brunswick, Damariscotta, Camden and Northeast Harbor.
Its highest value property was Floating Boulder, an Orland estate that sold for $8.5 million. (At the time, the deal was reported to be worth $8.25 million.) At the time it was reported to be in the top 10 of Maine sales of all time, with the top being a David Rockefeller estate on Mount Desert Island that sold for $19 million.
“We were well positioned and fortunate to benefit from a flight to quality when buyers and sellers were choosing a real estate company to help them,” said Chris Lynch, president of Legacy Properties Sotheby’s International Realty. “With an excellent team of experienced agents, we found that given the complex and dynamic market, our clients wanted to be sure to get the best advice to help them achieve their real estate goals.”
Legacy Properties Sotheby’s International Realty is the No. 3 residential real estate company in Maine.
Maine ranks No. 42 on one real estate list
It’s probably not surprising that one list Maine would not fare well on focuses on steady home prices.
A new report by Boulder Home Source looked at states with the slowest home-price growth.
Maine ranked No. 42, with growth of 70.4% in the median home price over five years.
No. 1: The lowest rate was in North Dakota, whose home values grew by just 22.7% over five years.
No. 50: The sharpest increase in home values was in Idaho, where they grew by 90% over five years.
Boulder Home Source analyzed data from Zillow for the past five years, across all 50 states to determine which state had seen the smallest rise in house prices.
Maine's median home price was $325,000 last year, up from $292,250 in 2021, but down from the peak of $360,825 in June 2022.
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