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Maine Set a New Record For How Much It Costs to Buy a Home

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Maine Set a New Record For How Much It Costs to Buy a Home


Maine’s housing market isn’t getting any better, and new numbers prove it.

The Portland Press Herald reported that the demand for single-family homes is still very high in Maine. That demand has pushed the average price up over seven percent to just under $400,000. People are paying that and more as closings are up for the fourth straight month in Maine.

The last record was set last year at $385,000 for the median price of a single-family home. The Portland Press Herald quotes Paul McKee, the association president and a broker with Keller Williams Realty in Portland,

Sellers have become more active in 2024. The 3,896 homes for sale in May were the highest number since August 2022 – 21 months ago – and the second-highest in 32-months – since September 2021. With more homes for sale, more transactions are happening.

Mainers are in a catch-22

Maine is a big state and there are many different real estate markets. In some markets in Maine, you might have some wiggle room to negotiate. But in many others, there simply aren’t enough homes on the market, and that puts bidding wars in place and it raises the median price. The average price for a home nationally (all housing types) was $419, 300, a new record and almost six percent higher than last year’s record price of $396,500.

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Photo by Tierra Mallorca on Unsplash

Photo by Tierra Mallorca on Unsplash

There are Mainers who are trapped in the home they own right now. For reasons like expanding the family, or a new job at a different location – some Mainers simply can’t move. Sure, you may be able to get top dollar for your home, but you can’t move, because you can’t afford anything. Lawrence Yun, chief economist with the National Association of Realtors said this about mortgages,

The mortgage payment for a typical home today is more than double that of homes purchased before 2020. Still, first-time buyers in the market understand the long-term benefits of owning.

Everybody understands the benefits of owning! But if mortgages have ‘more than doubled’ and your salary hasn’t, that math does NOT add to being a homeowner. He did say that prices should calm down when more homes get on the market, but we continue to see an unfriendly housing market if you don’t have a lot of cash.

 

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Gallery Credit: Sean McKenna

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Love food and festivals? Here are some of the best in Maine you need to attend in 2024.

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Maine

Maine’s abrupt plan to cut $400M in construction projects roils the industry

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Maine’s abrupt plan to cut 0M in construction projects roils the industry


When BDN shines a light, policymakers act. Make a gift to help our reporters keep Maine’s leaders informed. Make a donation now. 

This story will be updated.

The Maine Department of Transportation is moving to slash up to $400 million in projects from its agenda, a shocking and abrupt cutback that is rattling the state’s construction industry at the start of building season.

Roughly $50 million across six pavement projects have already been delayed, according to a memo exclusively obtained by the Bangor Daily News. The agency plans to cut or delay another $150 million in bridge, highway, intersection and multimodal projects later this month. A further $200 million or more in cuts are planned in the next three-year work plan.

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Those figures were outlined by Transportation Commissioner Dale Doughty in the May 18 memo to Gov. Janet Mills that has since circulated widely in the transportation sector, which has been getting drip-by-drip details on the wide scope of the cuts over the past three weeks.

It comes at the beginning of the state’s relatively narrow construction season. Companies have hired workers and ordered materials for projects they expected to begin this summer. The severity of the transportation budget problems was not raised to lawmakers during the 2026 legislative session.

Kelly Flagg, executive director of the Associated General Contractors of Maine, called the shortfall “deeply troubling” in a statement.

“We stand ready to work with policymakers, stakeholders, and industry partners to identify both immediate and long-term solutions,” Flagg said. “Maine cannot afford to fall further behind.”

Insiders saw this first.
This story was broken in Maine Politics Insider, the BDN’s daily premium newsletter for the most ardent political news followers. If you are a new BDN subscriber, you can sign up here. Current subscribers can contact our customer service team to upgrade.

The cuts stem from a structural funding gap of at least $130 million in the state’s current work plan, according to Doughty’s memo. Losses are magnified because state money from the gas tax and other revenue sources is matched by federal funds. Lawmakers have long grappled with politically difficult long-term problems with the state’s transportation budget.

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A Mills spokesperson said Wednesday morning that the administration was working on a response to questions from the BDN. The department says it needs roughly $240 million more in state capital funding annually to maintain the existing system, and that anything less than $200 million will erode it over time.

Doughty’s memo the only near-term solution is a series of bonds beginning as soon as possible. Lawmakers would have to return to Augusta to authorize that if one is going to appear on the November ballot.



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Opinion: Owen McCarthy offers Maine Republicans real change

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Opinion: Owen McCarthy offers Maine Republicans real change


The BDN Opinion section operates independently and does not set news policies or contribute to reporting or editing articles elsewhere in the newspaper or on bangordailynews.com

Michael Capeci is the former chairman of the Bangor GOP.

Let’s be honest about Maine’s current state.

For many families, the cost of living has become unsustainable. Housing is out of reach for many young people. Energy bills keep rising. Many small businesses are struggling under taxes and regulations that make it harder to grow. Rural hospitals are under strain and despite years of increased state spending, the results are not showing up in people’s daily lives.

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Concurrently, Maine continues to lose young workers to other states. That is not a statistic, it is a warning sign.

To me, the question in this Republican primary for governor is not about slogans. It is whether we continue with a political approach that has failed to reverse these trends, or whether we nominate someone with new ideas. I think that someone is Owen McCarthy.

Owen is not a political insider. He is an entrepreneur from Patten, a small town where opportunity is not assumed, it is built. He grew up in a working-class family, became the first in his family to graduate from college graduating from the University of Maine, and founded MedRhythms, a healthcare technology company focused on neurological treatment.

He didn’t just talk about opportunity. He built it. That distinction matters, because Maine’s problem is not a lack of debate it is a lack of results. We have seen the trajectory: higher costs, slower growth, and a steady outmigration of young workers. I believe Owen McCarthy represents a break from that pattern.

His Maine 2040 plan focuses on creating 50,000 new jobs in sectors where Maine has real advantages — maritime and defense, advanced forest products, and life sciences. These are export-driven industries tied directly to Maine’s workforce, geography, and institutions. What sets Owen apart is not only what he proposes, but how he approaches governing.

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He prioritizes modernizing permitting so projects do not stall. He supports using technology to reduce costs and increase efficiency. He focuses on making it easier to build, hire, and expand in Maine.

That same practical mindset extends to healthcare. Expanding telehealth, strengthening EMS systems, improving provider flexibility, and shifting toward earlier intervention are not abstract reforms. They are system upgrades designed to improve access while controlling costs.

Maine voters consistently respond to competence. They reward candidates who understand problems and present plans to solve them. I believe they are tired of rhetoric that does not translate into results, and skeptical of politics that prioritizes messaging over execution.

Owen’s approach is grounded in solving the issues that shape daily life — affordability, healthcare access, job creation, and government efficiency. That is not just policy positioning. It is a governing model that speaks directly to voters.

Some will point to his lack of political experience. But I believe Maine’s core problems are not the result of insufficient political experience; they are the result of policies that have failed to deliver measurable improvement. Experience inside a broken system, by itself, is not a solution.

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If Republicans want to win, this primary must be taken seriously. From my perspective, it is not about choosing a nominee for governor who can energize the base. It is about selecting someone who can compete in a broader electorate that is frustrated and looking for change.

That requires a candidate who can speak beyond the base, not by abandoning principles, but by demonstrating competence and a credible plan to address Maine’s challenges. I believe Owen McCarthy offers that combination. He represents a shift away from managed decline and toward economic execution.

This is not just another primary. It is a decision about whether Republicans position themselves to win Maine or whether they remain trapped in a cycle of repeating the same strategies and expecting different outcomes.

If Republicans want to compete for Maine’s future, they cannot afford to nominate a candidate who only motivates part of the electorate. They need someone who expands it.

I believe Owen McCarthy is that candidate.

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And if the goal is to win Maine, then the choice should be unmistakable



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Stalwart 7 in Varsity Maine baseball poll

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Stalwart 7 in Varsity Maine baseball poll


Gorham shortstop Miles Brenner throws to first during the Rams’ 8-0 win over the Cheverus on May 5 in Gorham. (Derek Davis/Staff Photographer)

The only notable change in the top-seven of the Varsity Maine baseball poll is that Gorham now has eight first-place votes, two more than last week. The order of the seven teams is identical. In fact, the only change in the top-seven over the past three polls is the swap at the top after Gorham’s win over South Portland on May 19.

Furthermore, Gorham, South Portland, Oxford Hills, Cheverus, Bangor, Mt. Ararat and Fryeburg have been ranked in the top seven for four straight weeks, and six of those squads have been among the top seven in every poll this spring.

Meanwhile, Scarborough is ranked for the first time since May 5, and Ellsworth and Thornton swapped spots.

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The Varsity Maine baseball poll is based on games played before June 2, 2026. The top 10 teams are voted on by the Varsity Maine staff, with first-place votes in parentheses, followed by total points.

1. Gorham (8) 89
2. South Portland 79
3. Oxford Hills (1) 75
4. Cheverus 55
5. Bangor 42
6. Mt. Ararat 41
7. Fryeburg Academy 30
8. Ellsworth 27
9. Thornton Academy 25
10. Scarborough 12

Also receiving votes: Washington Academy 8, Monmouth Academy 4, Cony 4, Leavitt 2, Falmouth 2.



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