Maine Single Family Homes For Sale 2245 Homes

Table of Content

• Typical home price in North Carolina: $322,055 (88% of typical U.S. price)
• Cape Hill Road, Jefferson, ME 04348
• Typical home price in Hawaii: $1,038,544 (242% of typical U.S. price)
• Typical home price in Indiana: $221,437 (52% of typical U.S. price)
• Typical home price in North Dakota: $282,461 (66% of typical U.S. price)
• Upper Oak Hill Road, Swanville, ME 04915

While still an increase from a year ago, October marks the fourth consecutive month that the median sales price has declined since peaking at $413,800 in June. According to estimates from Zillow, a Seattle-based real estate data company, the value of a typical single-family home in Maine is $318,628, higher than the national average. Homes that sold above list price likely received multiple offers. A high or growing percentage of homes selling above list price indicates that the housing market is competitive and bidding wars are becoming more common.

At the same time, homeowners have been reluctant to list their homes and there's a housing production shortfall. Housing supply shrunk through 2021, but housing inventory began to recover in 2022. According to Freddie Mac, it’s a good news-bad news situation for the housing market. As of last Thursday, the most recent data available, the average 30-year fixed mortgage rate was 6.3% according to mortgage buyer Freddie Mac. “Inventory levels are still tight, which is why some homes for sale are still receiving multiple offers,” Lawrence Yun, the association’s chief economist, said.

Typical home price in North Carolina: $322,055 (88% of typical U.S. price)

With their varied years of experience, they guarantee high-quality and energy-efficient homes. Coastal Builders & Sons are one of Maine’s top choices for custom-built homes. They have several floor plan options, including Chalet home style, Cape home style, and one where you build the home based on your specifications. It’s a customer prefab home built to be sustainable and promote home health and comfort without compromising the style.

Currently, 72.2% of Maine residents own homes, and low housing costs drive high homeownership rates in the White Pine state. The cost of a home itself is not enough to entice prospect buyers, and monthly costs show a home’s affordability. Despite below average housing costs in North Carolina, median income 11% less than the national average leads residents in the state to miss the 28% rule. The low average housing prices in Kentucky make up for incomes 16% below the national median.

Cape Hill Road, Jefferson, ME 04348

The maximum rate of 7.15% is the country’s 10th-highest state income tax rate. You are charged for electricity in Maine at an average rate of 11.89 cents per kilowatt-hour. That is technically slightly higher than the national average, but it’s low enough for inexpensive utility bills.

The typical homeowner in Louisiana spends just over a quarter of their salary on their mortgage. That reasonable amount is due to the cheap housing, as incomes in this state are 25% lower than the U.S. median. Florida homeowners spend nearly 45% of their median income on their mortgages. It's a somewhat high figure caused by a median income 15% below the national median. That doesn't quite pass the 28% rule, which says that your mortgage payment should be no more than 28% of your pre-tax income.

Typical home price in Hawaii: $1,038,544 (242% of typical U.S. price)

The first is Buckingham Palace, where the queen of England lives. This home has not been sold, but it is estimated to be worth about $4 billion. Bar Harbor is home to some of the most expensive homes in Maine. In addition to the most expensive home we’ve already covered, this Bar Harbor home was purchased for $4.95 million in 2020.

Your quality-built home is guaranteed by a team of professionals and experts in the field. The company has a track record of hundreds of satisfied customers. Their homes are built to last and are perfect for passive income. You can use it as a vacation home or a rental for extra income.

Maine State Income Tax

It’s a two-bedroom and one-bath home with a total area of 948 sqft. The Ascent is a Motley Fool service that rates and reviews essential products for your everyday money matters. We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.

The median is the price at which half the homes sold for more money and half sold for less. How do Maine’s expensive homes compare to other expensive homes around the globe? Even though Maine’s expensive homes are far from what the average person’s budget allows, there are many other locations that cost way more than the homes in Maine. The realty company originally listed the property at $15.5 million.

The real estate association also looks at three-month data for county-by-county comparisons to get a larger sample size of sale transactions. "While demand remains steady for Maine's tight for-sale inventory, increased mortgage interest rates have impacted the market," Hill said. "Buyers who need to finance their home have less purchasing power, and the recent pricing deceleration indicates that sellers are adjusting." Stacker compiled a list of cities with the fastest growing home prices in Maine using data from Zillow. Cities are ranked by the dollar change in Zillow Home Values Index for all homes from the twelve months ending September 2022. The charts in this story were created automatically using Matplotlib.

They have prefabricated homes that are industry-leading in terms of spatial designs. Their homes range from 600 sqft single-cottage homes to 2500 sqft four-bedroom family homes. Chase Custom celebrates its 36th year in the business this 2022.

Typical home price in North Dakota: $282,461 (66% of typical U.S. price)

Since houses are inexpensive, Kentucky residents don't need to spend too much of their incomes on their mortgages. Lower average house prices in Georgia make it a budget-friendly place to own a home, even though the median income comes in 13% below the rest of the country. Are among the most highly valued in the U.S., yet despite its median income being 31% above the national median, the average mortgage payment still far exceeds the 28% rule. West Virginia has the cheapest home prices according to Zillow at 40% of the typical U.S. price. Mortgage payments there take up 16.5% of the state's median income on average, the lowest rate in the nation.