Maine’s Open House Weekend, hosted by Portside Real Estate Group, was held Saturday and Sunday, May 18 and 19. Over the weekend, Portside featured new listings and highlight a range of desirable properties across the state. Offerings include everything from single-family homes to luxury condominiums, with prices spanning from $165,000 to $1.5 million.

One highlight of this event is the newly constructed Deacon Hayes Commons townhomes in North Yarmouth. Developer Laurie Bachelder, a nearby resident, saw the need for diverse housing in a community dominated by expensive single-family homes. This 12-unit project also includes five affordable units, with prices set by interest rates and median income calculations. Guided by a strong sense of community, Bachelder chose not to add another building, instead prioritizing green space and room to foster connections.

Along with these brand new townhomes, we are witnessing a surge in inventory hitting the market. In recent market trends, we have observed a positive movement with an increase in housing inventory. April saw a 24% rise in new listings (year over year) and a 50% increase in overall active inventory. Prices have remained strong, and although days on the market have been a bit slower, homes are still selling for almost full price. Sellers are capitalizing on historically high home prices in Maine, creating opportunities for baby boomers to downsize and make way for the younger generation.

While this growth is statewide, it’s important to note that some areas still experience very tight or slower market conditions. Millennials are expected to continue driving the housing market as they reach their peak homebuying years, providing a sense of confidence in the market’s stability.

Overall, Maine’s real estate market is showing increased inventory and price resilience, creating opportunities for both buyers and sellers. As a market leader, Portside Real Estate Group regularly showcases these opportunities by hosting Maine Open House Weekend, an opportunity for sellers and buyers alike.