Luxury - RE/MAX INTEGRA, New England Blog

Luxury
MAINE
REAL ESTATE
2013 VS 2014
presented by
Fine Homes & Luxury Properties
2014 brought notable growth of luxury real estate sales to the state of Maine. 728 luxury transactions,
priced at $750,000 and above, were posted in 2014, representing an 8.3% increase year-over-year.
The average sold price hit $1,281,772, a 7.2% increase over the previous year. Certain coastal areas of
Maine showed strong growth and outpaced the statewide averages.
“Many of these coastal towns saw movement in sales throughout 2014, and at a quicker pace.
Collectively, these areas saw the average days on market decrease by 7% year-over-year,” said Dan
Breault, Executive Vice President of RE/MAX INTEGRA, New England.
Growth of luxury transactions within in these coastal markets was led by Ogunquit with an 80%
increase, followed by Portland with 69% increase, Biddeford and Biddeford Pool with a 43% increase,
and Kennebunk and Kennebunkport with a 31% increase.
The largest growth in average sold price was seen in Portland, with a 30% increase year-over-year.
Ogunquit and Scarborough followed with 19% and 11% increases respectively.
Transactions on homes priced above $1,000,000 experienced the most impressive growth. In this
category, both Ogunquit and Portland saw 300% increases, followed by Scarborough with a 100%
increase.
*Luxury sales defined as home sales +$750,000. All data represents MREIS as interpreted by RE Stats. Data reflects combined Residential transactions from
1/1/2013-12/31/2013 and 1/1/2014-12/31/2014 within MREIS.
LUXURY MAINE REAL ESTATE 2013 VS 2014
PRESENTED BY THE RE/MAX COLLECTION
BIDDEFORD &
BIDDEFORD POOL
CAPE
ELIZABETH
TRANSACTIONS
$/SQ FT
AVG DOM
AVG LUXURY
PRICE
$750K-$1 MILLION
25.0%
10.7%
7.5%
$984,800
$1 MILLION +
66.7%
1.6%
87.7%
-21.7%
TRANSACTIONS
$/SQ FT
AVG DOM
AVG LUXURY
PRICE
$750K-$1 MILLION
80.0%
-0.3%
-42.1%
$1,228,343
$1 MILLION +
-31.3%
-2.0%
-7.7%
-19.1%
TRANSACTIONS
$/SQ FT
AVG DOM
AVG LUXURY
PRICE
$750K-$1 MILLION
33.3%
0.0%
-26.6%
$1,176,258
$1 MILLION +
28.6%
-13.3%
-54.4%
-15.6%
TRANSACTIONS
$/SQ FT
AVG DOM
AVG LUXURY
PRICE
25.0%
7.5%
1328.7%
$1,017,800
300.0%
15.2%
-53.2%
+19.4%
TRANSACTIONS
$/SQ FT
AVG DOM
AVG LUXURY
PRICE
27.3%
35.4%
68.4%
$1,142,614
300.0%
219.4%
28.0%
+30.1%
KENNEBUNK &
KENNEBUNKPORT OGUNQUIT
$750K-$1 MILLION
$1 MILLION +
PORTLAND
$750K-$1 MILLION
$1 MILLION +
LUXURY MAINE REAL ESTATE 2013 VS 2014
PRESENTED BY THE RE/MAX COLLECTION
SACO
TRANSACTIONS
$/SQ FT
AVG DOM
AVG LUXURY
PRICE
0.0%
60.0%
-98.4%
$950,000
-100.0%
N/A
N/A
-7.3%
TRANSACTIONS
$/SQ FT
AVG DOM
AVG LUXURY
PRICE
$750K-$1 MILLION
-77.8%
-18.3%
-51.0%
$1,335,464
$1 MILLION +
100.0%
-30.0%
-24.5%
+11.1%
TRANSACTIONS
$/SQ FT
AVG DOM
AVG LUXURY
PRICE
$750K-$1 MILLION
-50.0%
-15.8%
1950.0%
$953,000
$1 MILLION +
-66.7%
124.5%
-34.7%
-13.9%
TRANSACTIONS
$/SQ FT
AVG DOM
AVG LUXURY
PRICE
$750K-$1 MILLION
-40.0%
22.3%
-5.1%
$1,101,278
$1 MILLION +
-14.3%
14.7%
154.3%
-9.3%
TRANSACTIONS
$/SQ FT
AVG DOM
AVG LUXURY
PRICE
$750K-$1 MILLION
-21.4%
-21.1%
13.5%
$1,149,527
$1 MILLION +
-10.5%
-21.1%
-4.8%
-11.0%
$750K-$1 MILLION
$1 MILLION +
SCARBOROUGH
SOUTH
PORTLAND
WELLS &
MOODY
YORK &
CAPE NEDDICK
About RE/MAX INTEGRA, New England and RE/MAX INTEGRA
Since its inception in 1985, RE/MAX INTEGRA, New England has grown to over 200 offices and 2,700
sales associates throughout Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island and
Vermont, providing franchised residential and commercial real estate services to its franchisees and
their real estate professionals.
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headquartered in Toronto, Canada. RE/MAX INTEGRA is the largest sub-franchisor of RE/MAX, LLC
worldwide, and represents 28,000 agents and approximately 30 percent of RE/MAX, LLC.
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MLS data is provided by contracted data aggregators, RE/MAX brokerages and regional offices. While
MLS data is believed to be accurate, it cannot be guaranteed. MLS data is constantly being updated,
making any analysis a snapshot at a particular time. All raw data remains the intellectual property of
each local MLS organization.
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Fine Homes & Luxury Properties