Press Herald - Maine’s summer real estate market is underway, and June was a busy month for both buyers and sellers,
with more inventory to choose from but higher prices as well.
Homebuyers in Maine paid a median of $425,000 last month — the same as
in May, when the state set a new record high. Meanwhile, 1,441 homes
changed hands, an increase of more than 10% compared to June 2024, and a
17% increase from May.
Press Herald - For the first time ever, Maine’s state budget includes a dedicated,
ongoing revenue stream to support affordable housing production — a
historic milestone and long-standing goal of MAHC.
This new funding comes from increasing the real estate transfer tax
on the portion of sales over $1 million, while removing it on
income-eligible first-time home buyers. The revenue will grow over time,
and is a long-term, consistent investment in building homes for Maine
people.
Several new laws will also remove outdated barriers that have prevented homes from being built in the right places. LD 1829
reforms zoning to allow housing on smaller lots in community-designated
growth areas, grants a one-story height bonus for affordable housing
and provides training for planning board members.