Who Would Have Thought? – E-Newsletter – Vol. 53

We are proud to present to you Volume 53 of our E-Newsletter. Here are a few highlights from President and Owner Chris Lynch’s update on the current state of Maine Real Estate:

“There has been a widespread reversal of the urbanization trend that dealt a blow to suburban living over the last decade. Maine is among many destinations nationwide that have experienced a significant surge in the demand for real estate.”

When people hear about low inventory, they aren’t necessarily able to appreciate how slim the inventory really is. There are several towns with 10 or fewer “Active” listings available for sale today.”

We continue to enjoy many special benefits that have grown in recognition and  importance to so many people who continue to work their way through the COVID-19 changes impacting all of our lives. Maine is blessed with low population density, low traffic, low crime, low COVID-19 incidence, 6,000 lakes and ponds, miles upon miles of Atlantic coastline, broadband internet, easy accessibility by car to all of the northeastern states, and an unparalleled outdoor lifestyle around which to work and play.”

Click the cover image above or here to read more about the current state of Maine Real Estate and to review some of our amazing properties.

Significant Sales 2020

If you have followed our social media, blog, and/or newsletter, you will know that we have experienced what seems to be an unprecedented pace of new buyers seeking a primary residence or seasonal property in our great state. The surge in buyer demand continues to outstrip the supply of new listings coming on the market. Although the new listing inventory is currently both at a seasonal and cyclical low point, we continue to source new listings each day.

If you are considering selling your home, we have a deep backlog of buyers for most properties and locations in Maine. I would urge you to contact me or one of our experienced agents to help you take advantage of this unique market opportunity.

Our Significant Sales for 2020 is just a sampling of the many great properties our team successfully closed during these complex and challenging times.

See our Significant Sales 2020

Home for Sale – 100 Spencers Ridge Road, Freeport, ME – $1,750,000

About 100 Spencers Ridge Road, Freeport, ME

A private 56 acre oasis to enjoy as is, build a family compound, add a barn & workshop, or subdivide. Beautiful wooded and rolling landscape located off Rt 1 with easy access to Freeport Center, Brunswick and 30 mins to Portland. The meandering private driveway leads to the 3 bedroom ranch style home at the end of the cul-de-sac. Windows throughout each room and across the back of the home bring nature’s beauty indoors. All door entrances and baths are handicap accessible. Abundant high quality features such as all granite counters, all hardwood floors, 9′ ceilings, radiant heated floors, Central AC, geothermal heat pump, built-ins, built-in surround sound, ethernet, drive-in/drive-out garage doors. Propane fireplace makes a cozy living room overlooking the back deck and wooded landscape. Two extra rooms can be used as office/study space. Three-car garage and circular driveway welcomes your guests. Basement plumbed for bathroom and has a wood burning fireplace. A healthy home with no pesticides or chemicals used in landscape. Fruit trees, berries, and wildflowers artfully compliment surrounding gardens. This is a one-of-a kind distinctive property in a highly coveted location.

Click for More Information on this beautiful Freeport Maine Real Estate Listing.

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Home for Sale – 54 Chestnut Lane, Yarmouth, ME – $995,000

About 54 Chestnut Lane, Yarmouth, ME

Gorgeous custom home built by M.R. Brewer offers 4-5 bedrooms, 4.5 bath on a quiet cul-de-sac just a stone’s throw from downtown Yarmouth. Enjoy expansive open plan living with a spacious, beautifully appointed kitchen, and light-filled living room. A large mudroom, powder room, separate laundry room, and stunning primary bedroom en-suite with walk-in custom closet, complete the first floor. Upstairs are 3 more bedrooms, 2 full baths, and generous closet space. The finished basement offers high ceilings and fantastic flex space currently set as a play and media room. The basement also has a guest bedroom with a full bath and office alcove. A large, heated two-car garage offers direct interior access to the house, and is partially set up as a home gym. The home includes a Sonos sound system. This beautiful, private neighborhood offers the feeling of space and quiet while being extraordinarily close to amenities on Main Street in Yarmouth.

Click here for more information on this beautiful Yarmouth Maine Real Estate Listing.

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Home for Sale – 138 Lower Round Pond Road, Bristol, ME – $625,000

About 138 Lower Round Pond Road, Bristol, ME

Welcome to an idyllic country house! Located between the twin villages of Newcastle/Damariscotta and captivating Pemaquid Point, this 3 bedroom, 2 bath New Englander is sited on 8.8 pastoral acres with 275′ of frontage on the Pemaquid River. Many recent upgrades include a charming and functional kitchen with soapstone sink and countertops with a Wolf Range, tastefully re-appointed baths, lovely den/library with ample built-in bookshelves and screened porch looking over the pasture to the river. There is a large basement with room for a workshop or exercise room. Above the barn/garage is a large finished space with gorgeous views which would make an ideal master suite, guest quarters or in-law apartment with a private entrance. The peaceful setting is enhanced with fruit trees, new gravel drive and a 5 stall detached barn. The year-round amenities of the town of Damariscotta and the quintessential villages of Round Pond and New Harbor are just minutes away

Click for More Information on this beautiful Bristol Maine Real Estate Listing.

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Home for Sale – 56 Carroll Street, Falmouth – $825,000

1. Single Family Homes for Sale at Falmouth, ME 04105

About 56 Carroll Street, Falmouth, ME

Just minutes to downtown Portland and all of the city’s amenities, 56 Carroll Street is a rare opportunity to own in Falmouth’s desirable Bramhall Field neighborhood. Set on over an acre and just around the bend from Casco Bay this home offers something for everyone. The bright upper level includes a spacious living room with two-sided fireplace that opens to the dining room, a kitchen with eating-area peninsula, and sliders to a deck overlooking the huge back yard. Three bedrooms – the master with its own bath – round out the top floor. The lower level boasts a large family room with wood burning fireplace and built-ins, an office and/or additional family room space and two additional bedrooms. An oversized 2-car garage leads directly to a large mudroom with full bath and laundry, and a large lower deck is perfect for entertaining. A short walk to the Maine Audubon trails and Mackworth Island and conveniently located only ten minutes from Portland’s International Jetport, this home is a gem.

Click for more information on this beautiful Falmouth Maine Real Estate Listing.

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High Demand For Maine Real Estate Leads to an 18% Increase in Sales and a 16% Increase in Prices

AUGUSTA (Feb.19, 2021)—Buyer demand for Maine’s real estate is strong and for-sale home inventory is historically low. According to Maine Listings, the median sales price (MSP) for a single-family existing home in Maine rose 15.57 percent to $255,300 and sales volume jumped 18.38 percent comparing January 2021 to January 2020. The MSP indicates that half of the homes were sold for more and half sold for less.

“Residential real estate in 2021 is kicking off in continued positive territory with sales volume and median sold values significantly out-pacing those of a year ago,” says Aaron Bolster, Broker/Owner of Allied Realty in Skowhegan and 2021 President of the Maine Association of Realtors.

“Coming off 2020, the best year ever for sales volume, we are struggling with historically low for-sale inventory statewide. Buyers are facing far fewer available home choices and sellers are reluctant to list their properties without their next move-in property in place. Buyer demand is strong, and a continuing positive trajectory for 2021 is dependent on homes for sale coming onto the market.”

The National Association of Realtors today reported a 23 percent rise in sales of single-family existing homes across the country comparing January 2021 to January 2020. Home prices jumped 14.8 percent over January 2020, reaching a national MSP of $308,300 in January 2021. Regionally, sales in the Northeast increased 24.3 percent and the regional MSP was up 15.8 percent to $361,400 comparing January 2021 to January 2020.

“This high demand, low supply dynamic can be challenging for buyers and for sellers. Rely on your REALTOR® for local market knowledge, your ‘next move’ strategy, and negotiating expertise.”

Below are two charts showing statistics for Maine and its 16 counties. The first chart lists statistics for the month of January 2021 and 2020 only, statewide. The second chart compares the number of existing, single-family homes sold (units) and volume (MSP) during the rolling three months of November (2019/2020), December (2019/2020) and January (2020/2021).

Sotheby’s International Realty Expands its Presence in Cleveland, Ohio

PORTLAND, MAINE (Feb. 3, 2021) Sotheby’s International Realty today announced that it is expanding its presence in Ohio with the opening of Elite Sotheby’s International Realty. The addition marks the brand’s continued growth in the state and its third affiliated company in Ohio.

Elite Sotheby’s International Realty is owned by Ken Schmidt and Mike Schmidt and will be led by Managing Broker Joanne Zettl who together bring more than a century of combined real estate experience to the company. Elite Sotheby’s International Realty is located in the city of Pepper Pike and will serve the residential and luxury real estate markets in the Greater Cleveland area.

“The North Coast of Lake Erie has a long history of luxury neighborhoods and grand properties,” said Philip White, president and CEO of Sotheby’s International Realty. “Luxury real estate represents the top 10% of the market and the area is seeing increased interest from local buyers migrating back to Ohio from other Midwest cities and east metropolitan markets. Our affiliation with Elite Sotheby’s International Realty marks the brand’s expanding presence in the region and we are pleased to welcome them to our network.” “The Greater Cleveland area is home to a number of attractions including the second largest performing arts center in the country and the Lake Erie shoreline,” said Mike Schmidt. “We are seeing increased interest in our market from buyers looking to capitalize on space while still having access to arts and culture. Our affiliation with Sotheby’s International Realty enables us to reach a broader international audience and further enhances our existing marketing efforts thanks to the brand’s innovative virtual reality tools and marketing platforms.”

Elite Sotheby’s International Realty has one office in the area with plans for continued growth. The company is actively involved in the local community, previously supporting the Cleveland Clinic Children’s hospital and various community efforts.

The Sotheby’s International Realty® network currently has more than 23,000 affiliated independent sales associates located in approximately 1,000 offices in 72 countries and territories worldwide. Elite Sotheby’s International Realty listings are marketed on the sothebysrealty.com global website. In addition to the referral opportunities and widened exposure generated from this source, the firm’s brokers and clients will benefit from an association with the Sotheby’s auction house and worldwide Sotheby’s International Realty marketing programs. Each office is independently owned and operated.

Legacy Properties Sotheby’s International Realty can be reached at 207-780-8900 and info@legacysir.com. Legacy Properties Sotheby’s International Realty, with offices in Portland, Kennebunk, Brunswick, Damariscotta, and Camden, is Maine’s leading luxury and lifestyle property company with more than 90 agents and 5 offices serving Maine coastal communities from York County to Hancock County as well as Seacoast New Hampshire.

Offices Located at:

2 City Center, Portland, ME 04101 // 207.780.8900 (Greater Portland Maine Real Estate)

150 Port Road, Kennebunk, ME 04043 // 207.967.0934 (Southern Maine and Seacoast New Hampshire Real Estate)

141 Maine Street, Brunswick, ME 04011 // 207.729.2820 (Mid Coast Maine Real Estate)

170 Main Street, Damariscotta 04543 // 207.563.2775 (Boothbay Harbor, Damariscotta and Bristol Regions Real Estate)

46 Bay View Street, Camden, ME 04843 // 207.230.1003 (Rockland, Camden and North to Mount Desert Real Estate)

Home for Sale – 299 Drexel Lane, Islesboro, ME – $5,000,000

About 299 Drexel Lane, Islesboro, ME

As featured in Architectural Digest, this classic 20+ bedroom shingle style home has been beautifully maintained and totally redecorated by the current owner. Set privately at the north end of Islesboro island, this remarkable home was built in 1903 and is made up of 4 lots and over 48 total acres of spectacular oceanfront land including a deep water dock on Sabbathday Harbor. The land, which is partially in conservation with the Islesboro Island Trust, includes wonderful open fields with ocean views, walking paths through the woods down to the shorefront, beach and open ocean access, garden areas, and a majestic approach up a tree covered winding gravel road. The house is perfectly designed to accommodate large groups of friends and family, but cozy enough for single family living. There are great entertaining spaces including a large fieldstone fireplace in the living room, a fantastic custom built bar area, a great dining room with a fireplace, a large and well equipped kitchen with a walk in refrigerator and fabulous pantry area. There is also an office and laundry room on the first floor. The second floor features the master bedroom suite with its own private sun porch, and full bathroom with a claw foot tub and separate shower, as well as 14 additional bedrooms and 4 additional full bathrooms. The entire third floor of the home is a magical children’s space complete with four separate themed bedrooms and a full bathroom, a school house, a library, a diner, play equipment, and a built in stage with props for endless entertainment. There are two large sun porches, and a sunny back deck overlooking an in ground swimming pool. There is also a detached barn for car storage. This is a one of a kind property.

Click for more information on this beautiful Islesboro Maine Real Estate Listing.

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Home for Sale – 23 Clam Cove Drive, Rockport, ME – $595,000

About 23 Clam Cove Drive, Rockport, ME

Thoughtfully constructed three bedroom home with first floor master suite in a quiet neighborhood. Radiant heated birch floors on the first level, plus a well applianced kitchen with a cook’s stove and long butcher-block counters for dining and entertaining. From the kitchen you have an open view to the living room with its efficient Quadra-fire wood burning fireplace. Relax in the sun filled spaces while looking out through the windows to the back yard and deck. There is direct entry from the two car garage through a large mud-room with laundry area and the second floor has two bedrooms plus a possible den and office space.

Click here for more information on this beautiful Rockport Maine Real Estate Listing.

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The Portland Office Welcomes Michaela Veillette

Portland, Maine (February 2021)— Legacy Properties Sotheby’s International Realty, Maine’s leading Luxury Property company, is proud to announce Michaela Veillette has joined its team of Maine real estate professionals as an Assistant Vice President in its Portland, Maine real estate office. Michaela will be working alongside Michele Perejda, Senior Vice President and Broker. Michaela’s background in marketing and communications, social media management services, along with her fresh and creative approach to business development will provide an elevated experience for their clients. 

“We are pleased to welcome Michaela to our office in the heart of Portland” says Christopher Lynch, President of Legacy Properties Sotheby’s International Realty. “Her previous experience will be a great support for the team providing exceptional customer service. The Southern Maine market is strong and Michele and Michaela are dedicated to results.”

“I am excited to be working with Maine’s most elite agents,” says Michaela. “Legacy Properties Sotheby’s International Realty’s unparalleled branding and state of the art digital marketing innovations align with my commitment to create value and make a difference.” She is a life long New Englander with a great love of the outdoors and the Maine lifestyle. She spends her free time skiing with her fiancé, Jeff and exploring new hiking trails with their Australian Shepard pup, Mae. Michaela is all about micro-communities and supporting local businesses.

Michaela Veillette may be reached directly at 207.718.7032 and by e-mail at mveillette@legacysir.com

Legacy Properties Sotheby’s International Realty is Maine’s leading luxury and lifestyle property company, with more than 80 agents and 5 offices serving Maine and Seacoast New Hampshire communities.

Offices Located at:

2 City Center, Portland, ME 04101

141 Maine Street, Brunswick, ME 04011

150 Port Road, Lower Village, Kennebunk, ME 04043

46 Bay View Street, Camden, ME 04843

170 Main St, Damariscotta, ME 04543