Long Island
REAL ESTATE
The Average Maine Home Now Costs Over $400,000 for the First Time
Maine smashes another record for home sales. Maine has set yet another record, because last month, the average sale price of a home in June of 2024, was $406,000 – the highest ever. That's according to the Press Herald, which gets their data from the Maine Association of Realtors.
Crossroads Holdings Underway on $300 Million Mixed-Use Project Near Portland, Maine
Scarborough, Maine — Developer Crossroads Holdings LLC is underway on the development of Town Center, a $300 mixed-use project located in Scarborough, roughly 10 miles southwest of Portland. Situated within The Downs — a larger, 577-acre redevelopment of a former horseracing complex — the project will include 320,000 square feet of retail space, 60,000 square feet of medical office space, 240 residential units and a boutique hotel, as well as various open green spaces. Construction began last fall. Wilder Cos. has partnered with Crossroads to manage marketing and leasing initiatives for the retail and restaurant space at the property, in collaboration with locally based brokerage firm The Boulos Co.
Welcome to the Old Normal - by Justin Lamontagne and Sam LeGeyt
The Southern Maine commercial real estate market is fine. Admittedly, that’s a very vanilla descriptor, but it’s accurate. Since COVID, our market, like many, has been going gangbusters with increasing values and demand across all sectors. We had record-setting years in ’20, ’21 and ’22 with 2023 starting to stabilize. However, the incessant calls and demand have clearly slowed in 2024. But only in comparison to the last four years. The truth is it feels very 2019-ish. In other words, normal! The following is a summary and forecast of the industrial and office sectors in Southern Maine.
Reflections on my Real Estate Career
2024 marks my 20th year as a REALTOR. This milestone made me reflect on the past two decades selling and renting real estate in the Lakes Region. The reason I left my 15-year marketing career was I knew I could create my own schedule and be there for my kids, friends and family when they needed me. My kids were 3 and 1 when I obtained my real estate license. I was able to volunteer at their schools, go to sporting events and be there when they were home sick. They are now grown adults with their own lives and careers.
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