Maine's Hottest Towns 2021
Heather Compton
207-303-0610
Rob Edgerley
207-332-2476
Maine’s Hottest Towns of 2021
Maine’s Real Estate Market saw another busy year in 2021! The demand for housing has stayed high, resulting in continued growth across the state. This year’s Hottest Towns had some surprises with some newbies making the list! Of this year’s top ten, only two remain from 2020’s list.
Gathering data from the multiple listing service (operated by Maine Real Estate Information Services, Inc.), we found our Maine’s Hottest Towns of 2021 winners by calculating which Maine municipalities had the largest increase in the number of home and condo sales in 2021. We then compared these numbers to 2020.
Let’s dive into Maine’s Hottest Towns of 2021….
#10 - Scarborough
With mellower statistics compared to the other towns on the list, Scarborough still saw a leap of 7.4% of the total number of homes sold for 2021 and a median sale price of $500,00 – a price increase of 8.7% from 2020. Making the Hottest Towns list in 2017, 2019, and now 2021, Scarborough’s real estate market continues to grow as “The Downs” project is well under way. The town of 20,000 people is particularly rich in history. Prout’s Neck, for example, became famous as the place where Winslow Homer painted. Scarborough is also the home of the Maine Life Real Estate team!
#9 – Augusta
Last making #2 on the list in 2019, then dropping off completely, Augusta has climbed its way back into the spotlight. With 290 units sold in 2021, Augusta saw a 9.8% growth from its 2020 sales. The median sale price increased a tremendous 21.2%, going from $165,000 in 2020 to $200,000 in 2021. Augusta is the third least populated capital city in the United States. The area was inhabited by indigenous tribes for thousands of years before the first recording of European settlers in the early 1600’s.
#8 – Bangor
Maine’s third most populous city, Bangor is making the Hottest Towns list for the first time since 2016! Bangor saw an 11.2% increase in the number of homes sold, and a median price increase of 16.6%, rising from $169,720 to $198,000. Established in 1834, Bangor has a history rich in the lumber and shipbuilding industries. The famous 31-foot-high statue of Paul Bunyan is evidence of the city’s lumber history. Bangor is also the current home of author Stephen King.
#7 – Naples
The first time appearing on the Hottest Towns list, Naples increased its home sales by a notable 12.1% for 2021. The median sale price climbed from $265,000 to an impressive $300,000 – a nearly 17% increase! Naples has been attracting tourists since the 19th century for its beautiful lake scenery. Visitors have included Henry Wadsworth Longfellow and Nathaniel Hawthorne.
#6 - Lisbon
Making last year’s list at #10, Lisbon continued to grow and landed itself comfortably in 6th place for this year. Seeing a growth of 14.5% in the number of homes sold, there was also an increase in the median sale price, rising from $213,500 to $240,00. That’s a 12.4% increase! Lisbon, incorporated in the year 1799, is located in Androscoggin County and is part of the Lewiston-Auburn area. Originally named Thompsonborough, the town’s name was changed to Lisbon (named after the city in Portugal) in 1802 after residents expressed their frustration with the long name.
#5 – Westbrook
Last making the list in 2016, Westbrook made its way to fifth place for this year’s Hottest Towns. A 15.2% increase in the number of homes sold and the median sale price jumping 17.2% from $290,000 to $340,000 in 2021 gave Westbrook significant growth. Westbrook has seen growth in all aspects with the population jumping by 16.6% from 2010 to 2020, making it the fasting growing city in Maine.
#4 – Old Orchard Beach
Another town that was on the 2020 list that continued to grow is the tourist town of Old Orchard Beach. Jumping from 9th place last year up to 4th place this year, Old Orchard Beach had an increase of 16.8% in the number of homes sold for 2021. In 2020, the median sale price in Old Orchard Beach was $300,000 and in 2021, that saw an incredible 20.8% increase with the median being $362,500. This quintessential seaside town has been a popular tourist destination since the late 1800s and continues to attract visitors from all over. Old Orchard Beach was home to the first carousel in the United States.
#3 – Portland
The largest city in the state, Portland sold 1,065 homes in 2021, an increase of 20.60% over 2020. With the biggest increase in median sale price for all of the towns on this year’s list, Portland saw a whopping 26.8% increase in 2021, leaping from $365,000 in 2020 to $463,000 in 2021. Did you know Portland, Oregon was named after Portland, Maine in a coin toss? Pioneer Francis Pettygrove, who came from Maine, purchased the land that would become Portland, Oregon with fellow pioneer, Asa Lovejoy, who came from Massachusetts. Lovejoy wanted to name the area Boston, and Pettygrove wanted to name it Portland. They settled the controversy over a good old game of coin toss, which Pettygrove won.
#2 – Presque Isle
Also known as “The Star City”, Presque Isle is making the Hottest Towns for the first time! With a 21.6% increase in the number of homes sold, the city saw incredible growth for 2021. Though the number of homes sold jumped dramatically, the median sale price stayed consistent for 2020 and 2021 with no rise. On August 11, 1978, the hot air balloon, Double Eagle II, was launched from a Presque Isle field carrying three passengers. It made the first successful transatlantic balloon crossing. In honor of the Double Eagle II, the city holds an annual celebration called The Crown of Maine Balloon Festival, including balloon rides, plane tours, amateur photo contests and children's fair rides.
#1 - Belfast
Crowned the Hottest Towns 2021 Winner, Belfast charged ahead with an extraordinary 26% increase in the number of homes sold! Not only did the number of houses sold increase dramatically, but the median sale price soared from $245,000 to $300,000, making it the second highest on the list at a 22.4% increase. Once a territory for the Penobscot tribe of Abenaki Native Americans, Belfast is now a popular spot for tourists.
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