Homebuyers are grabbing their winter gear and flocking to far-flung Maine — where they’ve managed to drive up the median home price a bone-chilling 78.5% in just five short years, a new report reveals.
According to freshly published findings from industry news site Pro Tool Reviews, The Pine Tree State has experienced the most significant increase in median home prices of any of the fifty since 2019 — jumping from $219,000 to $391,000.
A lobster boat off the coast of Kennebunkport, Maine — the state’s housing market is undergoing a radical transformation in recent years. AP
The explosive growth comes in spite of the fact that Maine’s population has trickled upward a mere 0.32% since 2008, according to research conducted by Pew Charitable Trust — well below states like Texas (1.52%) and Florida (1.34%), better known for their heated housing markets in recent years.
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Maine’s tiny capital, Augusta, experienced the most dramatic change, according to the report.
Neighboring New Hampshire slid into second place on the list, experiencing a 76.4% rise in average residential real estate prices since 2019.
The new wave of northern New England homesteaders don’t appear to be struggling to make their purchases either — The Granite State ranked highest for size of downpayment, boasting $72,750 on average.
Maine is home to one of the world’s most upscale McDonald’s, in the town of Kennebunk. Locations of the Golden Arches in the state are known for serving lobster rolls, the local specialty. Google Reviews
Another state in the region took third place on the overall list — Rhode Island, which experienced a 73% jump.
Meanwhile, the most affordable state for homebuyers right now is Louisiana, where the median home price is just $254,000, researchers revealed.
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Texas took second place, followed by Oklahoma, Mississippi and Indiana rounding out the top five.
In a ranking of the most affordable housing markets in the country overall in 2024, Louisiana came in at number one. Bloomberg via Getty Images
In determining what “most affordable” means, Pro Tool Reviews took into account not just the median home price (in which case Oklahoma would take first, with its $240,300 median price tag) but also the average salary, average down payment and the amount of homes in the state that sell for more than their asking price.
“Only 13% of homes in Louisiana sell for over the list price,” the report analysis commented of the Bayou State, where the average salary is $54,134.08,
“This represents the fourth-lowest figure of all states analyzed — 27.3% of homes in the state have their list price lowered before being sold,” researchers said.
BANGOR, Maine (WABI) – One local organization is looking to improve the holidays for hundreds of veterans in the Greater Bangor area
The Maine Veterans Project hosted their Thanksgiving distribution event this morning from 8am until 12pm at their office in Bangor.
Any veteran in the Greater Bangor area was welcome to stop by and get some food for free to help feed them and their families this Thanksgiving.
Meals were also delivered to those who couldn’t make it to the event in person.
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Over 200 large bags of non-perishable food were available as well as turkeys, milk, eggs, burgers, and bacon.
They also had some cold weather gear available to those who needed it including jackets, socks, and gloves.
Hermon elementary school students also made some heartwarming cards for the veterans who would be picking up food at the event.
Maine Veterans Project vice president Anthony Murano said their goal was just to help as many veterans as they could.
“As you can see we do have a lot of moving parts going on out here. Today is our Thanksgiving distribution event, and the goal of today is to feed as many veteran’s families as we possibly can for the Thanksgiving season. We do have a small food pantry that we do keep stocked throughout the year, so if we have any vets that are looking for a little food assistance, we can help in that aspect,” said Murano.
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Maine Veterans Project partnered with several local businesses and organizations to help make this event possible including Evan’s Veterans Project and the Not Your Average Nurses Foundation.
And for more information on everything that the Maine Veterans Project does, you can visit maineveteransproject.org or check them out on Facebook.
Erik Stevenson was fouled making a 3-pointer and completed the four-point play with 3.5 seconds left to lift the Capital City Go-Go to a 96-93 win over the Maine Celtics on Sunday at the Portland Expo.
Stevenson finished with 36 points for Capital City. Ruben Nembhard Jr. added 13 points. 14 rebounds and seven assists, while Michael Foster Jr. had 14 points.
Ron Harper Jr. had 21 points and six rebounds for the Celtics. JD Davison added 11 points and 10 assists, while Baylor Scheierman finished with 16 points and six rebounds. Drew Peterson scored 18 for Maine.
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