The BDN is exploring Maine’s housing crisis from every possible angle, from how it affects home prices, to what it means for Mainers across the state. Read our ongoing coverage here and fill out this form to tell us what you want to know.
A $1 million dollar home is not unheard of in high–price places like Cape Elizabeth or Kennebunkport. But what about ones in the heart of rural Maine?
Of the 292 homes in Maine that had been sold for $1 million or more as of Monday, 211 (72 percent) were in the Portland Metro area despite that metro making up around 40 percent of the state’s population.
With 28, Falmouth actually had the most $1 million dollar homes, even more than the 21 in Portland, 13 in Kennebunkport and 12 in Cape Elizabeth. Several communities don’t have any $1 million-plus homes on record.
But with a rise in housing values, more homes worth a million dollars or more are selling in Maine than ever, even in communities that have never seen them. Here are five that sold this year that came in surprising areas.
4-Bedroom in Lake View Plantation, Piscataquis County
Selling Price: $1.13 million
Days on Market: 199 days
Sold Above Asking Price?: No ($45,000 below)
Median value in community in May 2022 (Zillow): N/A (Nearby Brownville has median of $76,274)
Buyer listed out-of-state address?: Yes (Middleton, Massachusetts)
What’s most interesting about this property is that it is in a part of Piscataquis County that has very low property values. Milo, one of the cheapest places to buy a home in Maine, is only a short distance away.
The most desirable and expensive properties in Maine are on the water, and this is no exception. It sits right on Schoodic Lake. It is also new, having been built in 2019.
On 29 acres, you will have more than enough privacy — about 150 people live in Lake View Plantation. People clearly seem interested in moving there, given that its population has surged from 16 in 1970.
5-Bedroom in Dallas Plantation, Franklin County
Selling Price: $1.1 million
Days on Market: 167 days
Sold Above Asking Price?: No (Sold $213,000 below initial asking price)
Median value in community in May 2022 (Zillow): $413,460
Buyer listed out-of-state address?: Yes (Wolfeboro, New Hampshire)
This is another property that was built fairly recently (in 2021) and includes a view of nearby Haley Pond.
Dallas Plantation is right next to Rangeley in what is referred to as the Rangeley Lakes Region. This chalet property is just a short drive from the town of Rangeley as well as Saddleback Mountain.
4-Bedroom in Norway, Oxford County
Selling Price: $972,500
Days on Market: 125 days
Sold Above Asking Price?: No (Sold $26,500 below asking price)
Median value in community in May 2022 (Zillow): $258,045
Buyer listed out-of-state address?: Yes (Lockport, New York)
This log home didn’t sell for a full $1 million, but went for more than $700,000 above the median value for a home in Norway.
One can see why. It includes a number of amenities, including a stone fireplace, a cathedral ceiling over the dining area and a game room. It also includes a private deck.
The 0.42-acre property also has 100 feet of waterfront access on the western shore of Pennesseewassee Lake, also known as Norway Lake.
4-Bedroom in Searsmont, Waldo County
Selling Price: $1 million
Days on Market: 230
Sold Above Asking Price?: No (sold $290,000 below initial asking price)
Median value of home in community in May 2022 (Zillow): $268,574
Buyer listed out-of-state address?: No (Searsmont PO Box)
This 32-acre property built in 2011 is on Lawry Pond with gardens and woodlands all around it.
It also has several elements, including hot water and electricity, that are powered through solar energy.
4-Bedroom in Addison, Washington County
Selling Price: $1.25 million
Days on Market: 266
Sold Above Asking Price?: No (Sold as listed)
Median value in community in May 2022 (Zillow): $188,901
Buyer listed out-of-state address?: Yes (Sterling, Virginia)
Not many million dollar homes sell in Washington County, the cheapest place in Maine to get a home on the coast.
Still, this oceanfront four-bedroom has many desirable factors, most notably an unobstructed view of Wohoa Bay and a private beach. It also came with a tractor.
