Maine's Hottest Towns 2022
Maine’s Hottest Towns of 2022
Report by: Heather Compton and Rob Edgerley
It’s been no secret that Maine’s real estate market has been blazing hot and full of energy for the last few years. The majority of property listings remain on the market for just a few days, they’re receiving multiple offers, and are closing at above asking price. The real estate market continues to be electrified and this year’s Hottest Towns report reveals that more than ever.
Every year, we gather data from the multiple listing service (operated by Maine Real Estate Information Services, Inc.) and we find Maine's Hottest Towns winners by calculating which Maine municipalities had the largest increase in the number of homes sold compared to the previous year. However, this year, very few towns actually saw an increase in the number of homes sold and the majority actually saw a decrease. For instance, Portland, our state’s most populated municipality, was down by nearly 30% in unit sales for 2022. If unit sales are down across the board, surely this is a sign of the market cooling down, right?
Not so fast!
The real, deeper story here is the shortage of supply, not demand. The proof of this can be found by taking a look within sale prices. Not a single town within the report for this year saw a decrease in median sale price. Fewer homes are hitting the market resulting in competitive offers from demanding buyers. For this year’s report, we will take a look into the towns that saw the highest boost in median sales price, the places where people are putting down their money, and where people are willing to pay for their own piece of what Maine has to offer.
Let’s dive into Maine’s Hottest Towns of 2022….
#10 – Waterville
Waterville saw a 17.6% jump in the median home price between 2021 to 2022, increasing in value from $170,000 to $200,000. Waterville was also one of the few towns in the report that saw an increase in unit sales at a mild 2% increase. Nestled on the banks of the historic Kennebec River, Waterville is undergoing a downtown renaissance with new hotels, galleries and restaurants coming in. Waterville is home to Colby College and the Colby College Museum of Art, a major cultural destination for the residents of Maine and visitors to the state.
#9 – Lewiston
Last on the list in 2019, Lewiston saw an impressive 18% increase in its median sales price between 2021 and 2022! Lewiston bumped itself from a median price of $220,250 in 2021 to $260,000 in 2022. Once known for its textile mills and factories that are now being redeveloped on the scenic Androscoggin River, Lewiston’s downtown is reinventing itself with cafes, restaurants, bars and breweries. Led by one of the nation’s leading small liberal arts colleges, Bates, Lewiston is also blossoming as a place of arts and culture.
#8 – Waterboro
The local Abenakis originally called the area “Massabesic,” meaning "the place of much water," and Waterboro is indeed a place of many lakes and rivers. This is why in the 1960s it came to be home to the largest development in southern Maine, Lake Arrowhead Community. For this reason, Waterboro became part of Maine’s real estate history: It inspired the state legislation regarding subdivision regulation and planning boards. It placed in the top ten in 2017, 2019, and now returns as a 2022 winner. The median sale price in 2021 was $285,000 and saw an impressive rise to $338,450 in 2022 - an 18.7% increase!
#7 – Augusta
Placing ninth place in 2021, Augusta returns to our list this year seeing a substantial increase in its median sales price at a nearly 19% rise. In 2021, the median price was $200,000, jumping to $237,750 for 2022. Home to the Blaine House, the official residence of the Governor of Maine, 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.
#6 – Kennebunk
Not making the list since 2019, Kennebunk shot up to place sixth for 2022! The beautiful, coastal town known for its sandy beaches and vibrant villages, Kennebunk had a 20% increase in its median sale price. The $570,000 price in 2022 was up from $474,950 in 2021. To the Abenaki peoples, Kennebunk means "the long cut bank," presumably the long bank behind Kennebunk Beach.
#5 – Westbrook
Another return from last year’s winners, Westbook’s median sale price jumped 20.5% from $340,000 in 2021 to $410,000 in 2022. The city of Westbrook was named after Colonel Thomas Westbrook, a Militia Officer during Father Rale's War. In addition to this senior militia role he was a scout, a colonial councilor, an innkeeper, a mill owner, a land speculator and a King's Mast Agent.
#4 – Gray
Rich with Civil War history, Gray is located in Cumberland County between Portland and Lewiston. Gray made its first appearance in the 2020 list and returned this year with a 22.1% increase in its median sale price. At $352,000 in 2021, Gray grew to a notable $430,000 median price for 2022. One of the few from this year with a positive increase, Gray saw an increase of 4% in its total homes sold in 2022. During the Civil War, the small town of Gray proportionately sent more soldiers to conflict more than any other town in Maine.
#3 – Old Orchard Beach
For its third year in a row, Old Orchard Beach is once again in the top ten! Taking the bronze this year, Old Orchard Beach continues to see growth. In 2021, the median sale price in Old Orchard Beach was $362,500 and in 2022, that saw an incredible 22.7% increase with the median being $445,000. 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.
#2 – Kittery
Kittery last made the list in 2020 and returns this year to place second! Kittery is the oldest town in Maine and sits just over the border from our neighbors in New Hampshire. Home to the Portsmouth Naval Shipyard, Kittery is also known for its many outlet stores. In 2022, Kittery saw a striking 23% increase in its median sales price of $594,000 — up from a $482,000 median in 2021.
#1 – Rockland
Taking home the gold, our 2022 winner for Maine’s Hottest Town goes to Rockland! The beautiful, picturesque city of Rockland soared to 1st place for this year’s Hottest Towns with a whopping 40% increase in median sale price! Rockland is growing at lightning speed with the median price rising from $225,000 in 2021 to $317,000 in 2022. Rockland is the home of the Maine Lobster Festival which is in honor of the town’s primary export: lobster!
For more additional details for other towns in Maine, click here .
Copyright © 2023 Maine Life Real Estate, brokered by eXp Realty. All rights reserved
Testimonials
"
Thank you to Kim Tarbox and company! You made the process feel very smooth and we really felt like you were working to best suit our needs and wants. Best of luck!
"
- Andrew McWhirk
"
This is the second time working with Kim to purchase a property and I couldn't be happier! She does a stand-up job- incredibly resourceful, always responsive and will do what needs to be done to get a good deal closed. Highly recommended!!!
"
- Zachary Taylor
"
Rob Edgerley is one of the most honest, giving and thoughtful Realtors that I have ever met. I am so impressed with Rob's knowledge and client care. He has developed an amazing team and takes care of his client as if they were his one and only. I can't say enough great things about Rob. Don't risk calling anyone else. You just found the best Realtor in Maine!
"
- Alan Iverson
"
My family has bought two houses with Kim Tarbox and sold one, and she was incredible to work with every time! Kim was able to accommodate my growing family's hectic schedule and helped guide us through the process from start ("Hey! We are ready to buy our homestead! Our ideal location is the southern half of Maine!") to finish ("Woo! We have the most amazing homestead in the perfect community for our family!!").
More specifically, Kim and her team helped us find and buy our starter home with an FHA mortgage (the notary thought the dates must be wrong during the closing, so little time had passed between the offer and the close date). She also helped us sell our starter home to a buyer with another FHA mortgage (and a work relocation and rent-before-they-buy situation) in under 2 months! She ALSO helped us buy our dream homestead after we outgrew said starter home!!
Simply put, we couldn't recommend Kim and her team more highly.
"
- Zachary Drake
"
We started working with Kim about a year ago when we wanted to sell our rental property. We sold our property quickly and had a wonderful experience. Then about 6 months later we contacted Kim again to help us purchase a camp for our family. We couldn't have asked for a better person to help with this journey. She was easy to talk to, responsive to our questions or concerns, and knew how to advocate for us and our needs. All the other team members from this company that we worked with behind the scenes was also very attentive and made us feel well taken care of during this process. We would highly recommend this company.
"
- Mike and Sarah N.
"
Chelsea did a phenomenal job - as a first-time buyer, having a realtor who maintained open communication and transparency was a huge boon. She put in more work than one could expect, and assuredly much more than what I could see, all while retaining an unyielding enthusiasm that kept me confident in her actions. Her effort and energy do not go unappreciated, and my indirect interactions with her company would lead me to expect the same level of excellence from other members of their team.
"
- Jon B.
"
Great experience with Maine life. Kim was fantastic to work with, highly recommend.
"
- Steven Spelter
"
As a first time home buyer, I was super nervous. Kim was super knowledgeable and answered any and all of my questions! I would highly recommend!
"
- Derina Boothroyd
"
MLRE made buying our first home a great experience. Mindy was patient and open to all of our needs and wants (no matter how specific), always offering to talk through any concerns throughout the process, and never afraid to explore a creepy basement! We will always be grateful for her help in finding our ideal first home!
"
- Michelle Provencal
"
As first time home buyers, my spouse and I were so grateful for the patient support and guidance we received from Mindy, Heather, and the Maine Life team! They were helpful and gracious throughout the whole home buying process, and were always quick to respond to our questions and concerns. I can't recommend them enough!
"
- Hillary P.
"
Our second time using Maine Life Realty was just as good, if not better than the first. Rob and Heather walked us through the entire process with the utmost of ease. Their constant communication, attention to detail and professionalism made our experience effortless. We would highly recommend using MLR for any and all of your real estate needs.
"
- Dave and Anne Stearns
"
Marnie listened patiently to our needs and walked us effortlessly (from our perspective) to where we wanted to be. They all proved to be open, friendly and forthcoming, anticipating many of our needs. Their expertise was demonstrated in their timely responses to our questions and concerns.
We had resisted enlisting a buyers agent due to in part to the lack of connection with the many brokers we met along the way. In the end we trusted in Maine Life Real Estate Company and were not disappointed. In retrospect we would have been better off enlisting them in our search sooner.
Few organizations have the confidence to post their core values so prominently. Even fewer live up to them as they do. We hope we will be able to work with them again in the future. For now, we will be making our new house our home.
"
- Tom Randall
"
Wonderful experience, the Maine Life Team helped us turn a chapter in our lives by helping us sell our home of 25 years and in turn also aided us in finding our next home. Thanks so much to Rob and Cindy.
"
- R. Dow
"
Mindy Phillips is a consummate diplomat and professional. I cannot recommend her more highly. She is poised, patient, and effective. There were several things I noticed about her approach to me as a buyer that set her apart - among them, abundant grace and good manners.
"
- Michael M. Ross
"
Rob and Heather were always accessible, timely in their responses and managed the sale with the utmost of professionalism and competence. An easy process from start-to-finish. Grateful to have been referred to them
"
- David Faunce
"
Paige was wonderful to work with. Highly recommend to anyone looking to buy or sell a home.
"
- Joe Camp
"
Maine Life Real Estate did an amazing job helping my wife and I purchase our first home. They came strongly recommended from a close friend of ours and we could not be happier with the result. From the flexible hours through the constant updates during the buying process, they kept us informed and prepared to meet our closing deadline.
"
- Michael Baker
"
Our entire experience was wonderful...they were knowledgeable, dealt with all issues which arose effectively, highly professional, and supportive of our needs and expectations. Would strongly recommend their service to everyone!
"
- Steve Leary
"
If you are looking to buy or sell real estate, do yourself a favor and contact Maine Life Real Estate. I moved to Maine 6 years ago and hired Rob to help us find a house, He found the perfect house for us and he made the process very smooth and pleasant. I stayed in touch with Rob over the years and when it came time to sell our house due to a relocation, Rob was the first person I contacted. Again - I put full trust in Rob and was not disappointed. He and Heather are professional, courteous, are excellent listeners and are not pushy at all. Not only has Rob been a great realtor for us, but he has become a good friend as well.
"
- Brian Fomby
"
Both selling my home and buying my new home, Maine Life Real Estate was the best I've ever worked with. Kim Tarbox helped me through the entire process, often going above and beyond. The entire team is incredibly professional. I couldn't recommend them highly enough!
"
- Beth W.
