SERVING MAINE AND NEW HAMPSHIRE’S COASTAL, LAKE, AND MOUNTAIN COMMUNITIES
A mastery of real estate marketing.
As the leader in luxury Maine real estate, Legacy Properties Sotheby’s International Realty offers an unmatched blend of local expertise, world-class marketing power and property exposure. Our licensed real estate agents specialize in luxury waterfront homes, ranging from stunning coastal and beach properties to lakefront lodges, maximizing year-round views and recreation opportunities for you to enjoy the best of what Maine has to offer.
We have six offices along the coast of Maine, with locations in Kennebunk, Portland, Brunswick, Damariscotta, Camden, and Northeast Harbor on Mount Desert Island. Get in touch today to find your dream Maine home with guidance and support from our expert agents.
Dear Friends,
The most pressing questions in the current market are coming from both current and prospective home sellers. Although there are nearly seven weeks left until 2025, the period between Thanksgiving and New Year’s Day presents unique challenges in the Maine real estate market. This time of year is characterized by reduced active home inventory, lower buyer participation, colder weather, and sunsets as early as 4:00 PM.
Two key questions arise during this period, which, while related, address distinct seller considerations. The easier of the two questions comes from the prospective seller. It is a timing question that we receive every year during this period: “Should I put my home on the market today and through the holidays or wait until the spring?” While there can be lots of dialogue and disagreement, the answer is clouded by property specifics requiring each situation to be evaluated individually. Furthermore, in some years my answer might be different than it is currently due to fluctuating market conditions. The reason I say this question is the easier of the two is that the answer is crystal clear: Absolutely YES! You should list it as soon as you and your home are ready to go.
My rationale for making this decision is multifold:
1. There is no doubt that activity slows during this time of the year, but there is a parallel downward shift with both listings and buyers that keeps supply and demand in a healthy place.
2. It is still a seller’s market defined by more buyers than sellers for good homes in good locations at good prices.
3. Active listing inventory is approximately 30% higher than it was a year ago, and we expect that trend to continue well into 2025, suggesting more competition in the spring for sellers.
4. Like inflation, the median sales price for homes in Maine has continued higher, albeit at a slower rate. It is possible that prices can continue to go up, but it is looking increasingly unlikely. The median price in Maine has increased over 7% from last year at this time.
5. There has been a very strong trend in Maine towards bringing family members closer together, with parents and grandparents wanting to be closer to their children and grandchildren. This large subset of prospective buyers tends to be in Maine for extended periods of time during the period from Thanksgiving through New Years, making home shopping (both primary and secondary) more approachable.
The second more complex and risky question is: “My home has been on the market for a period of time, has not sold, so should I take it off the market for the holidays and revisit selling in the new year or even wait until spring?” My answer to this question would be dependent on the answers to the following questions:
1. Do you need to or want to sell before the spring?
2. Why has your home not sold after a period of time on the market?
3. What are the current market/marketing conditions that have hindered my success?
4. Are those conditions likely to be better or worse in the winter or spring?
If your home has been well marketed and it meets the three basic criteria of being a good home in a good location at a good price, then there should be enough strong buyers active in Maine to get your home sold by year end. If you are not receiving the activity you expected, then you really have three choices. You can take it off the market and hope things get better in the future; you can revisit the marketing strategy, and/or revisit whether the price is appropriate for the quality of the home and the attractiveness of the location. The home itself and the location are the two components that are fixed in space and time. With that as the “restart” point, you can analyze what has not been working and make the proper adjustments.
Of course, the biggest risks facing both current sellers and prospective sellers are time and the uncertainty of future market conditions. It is clear to me that we are at an all-time high from a pricing perspective, but we are also at an inflection point, or at least nearing an inflection point, that threatens the “irrational exuberance” we have enjoyed in Maine real estate for the past several years. For example, a sharp decline in mortgage rates may give the market a boost as new buyers may come into the mix from an affordability standpoint. That said, significant decreases in interest rates are typically caused by a material decline in overall economic conditions.
I, for one, think market timing is a risky game that is tied more to luck (good and bad) than
to divine inspiration and an ability to predict the future. My recurring advice applies to all buyers and sellers alike. It is also partially tied to the relatively small Maine real estate market, which has limited opportunities for most homes to find success.
The market is very good in Maine today and has moved toward a better supply/demand balance in all but a few areas of the state. If you find a home that you want to buy, I recommend that you negotiate a deal that is mutually beneficial, as you may never find the same opportunity again. The same is true for sellers; if you have a home to sell, the market is there for you to achieve success. Most sellers have the opportunity to sell their homes for prices they never thought they would see in a lifetime. Negotiate a fair current market price and sell it!
Thank you for the faith and trust you have placed in Legacy Properties Sotheby’s International Realty. We greatly appreciate our relationship and partnership in helping you achieve your real estate goals.
Warm regards,
Chris
President/Owner
Legacy Properties Sotheby’s International Realty
With access to more than 3,500 miles of Atlantic oceanfront, 6,000 lakes and ponds, and mountains with world-class skiing, Legacy Properties Sotheby’s International Realty is uniquely positioned to help you find your dream home in Maine. Simply put, we have the premier portfolio of Maine real estate and waterfront properties for sale.
Company - 6 Offices - 100+ Agents - Endless Possibilities
THANK YOU FOR YOUR TRUST AND SUPPORT.
for all homes sold over $2,000,000 in Maine for all homes sold over $4,000,000 in Maine for all homes sold over $3,000,000 in Maine
for all homes sold over $1,000,000 in Maine
for all homes sold over $600,000 in Maine
for all waterfront sales in Maine
Legacy Properties Sotheby’s International Realty attributes its success to offering its clients a very strong package of marketing services including: professional photography, Matterport 3D Virtual Tours, glossy print advertising, global property distribution through its exclusive network of agents, and luxury branding through its affiliation with Sotheby’s International Realty.
LEGACY COLLECTION
Our exclusive, multi-page property books are distributed with Maine Home + Design, Down East, and in select areas, The Wall Street Journal and The Boston Globe. As many as 188 pages are
Everything You Need to Know about Moving to Maine
We present “Your Legacy,” a publication in partnership with our friends at Open Door Publishing to help our future and present clients learn more about what it means to live in Maine. “Your Legacy” includes information on the top public schools and hospitals in the state, a helpful breakdown of our rental program for those looking to dip their toes in our waters, guides to the neighborhoods and towns we service, information on each of our six coastal offices, and articles of interest for those looking to learn more.
View the digital edition of “Your Legacy” here or pick up a hard copy at one of our offices today.
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SOUTHERN MAINE
Explore Featured Listings in York and Cumberland Counties
4 Rivers Edge Lane, Eliot |
It is with great pleasure and pride that we share our most significant sales for the first half of 2024.
MIDCOAST MAINE
Explore Featured Listings from Brunswick through Belfast
11 Mechanic Street, Rockport
DOWNEAST MAINE
Explore Featured Listings Beyond Belfast
DISCOVER THE VALUE OF YOUR HOME
Our state-of-the-art online residential property valuation service lets you find the estimated current value of your home simply by filling in your address on the banner of our LegacySIR.com homepage.
This value is used in all aspects of the valuation process for lenders, GSEs, mortgage brokers, mortgage servicers, investment bankers, and mortgage investors as well as anyone who requires fast, reliable, and cost-effective residential property valuations.
For a more detailed Market Analysis, please contact your Legacy Properties Sotheby’s International Realty sales associate.
INLAND TREASURES
Explore Featured Listings in the Lakes and Mountains Regions
402 Baker Hill Road, Freeman Township
REAL ESTATE EXPERTS IN EVERY MARKET GLOBAL REACH
The Sotheby’s International Realty network is comprised of more than 26,500 sales associates located in approximately 1,115 offices in 84 countries and territories worldwide. Our listings are marketed on the sothebysrealty.com global website and on local affiliate websites across the world in the markets from which our buyers are coming. This global exposure not only affords our listing clients the widest possible distribution to the highest number of qualified buyers, but it allows all of our clients access to the most experienced and accomplished real estate experts in whichever town, city, or country they may have needs.
THINKING ABOUT A MOVE?
Let us help you find the right agent through our global network at Sotheby’s International Realty. For more information call 207.780.8900 or email info@legacysir.com
RENTALS
Maximize Your Home’s Income
There is incredible demand from guests seeking to vacation in Maine and we are looking for outstanding new properties to add to our portfolio of the finest luxury rental homes in all of Maine. We provide a full-service rental experience, including professional photography, cutting edge Matterport 3D Virtual Tours, unmatched global luxury branding, marketing and distribution, and dedicated support.
Contact us today for an analysis of your home and to discuss how we can help maximize your rental income.
Visit us at luxurymainerentals.com to view our exceptional luxury rental homes or contact us at rentals@legacysir.com for more information.
FEATURED RENTAL
A newly constructed coastal retreat that beautifully combines modern luxury with New England charm, making it an ideal escape for discerning guests. Accommodating up to 12 people, the home features spacious bedrooms, including oceanfront-facing options with private balconies. The open-concept living area is filled with natural light and connects seamlessly to a gourmet kitchen equipped with high-end appliances. Outdoor amenities include a heated pool, BBQ area, firepit, and direct access to a scenic coastal walking path. Located minutes from parks, beaches, and Portland’s vibrant dining scene, this property promises an unforgettable coastal living experience, perfect for relaxation and exploration.
This luxurious coastal estate, set on 7 acres of stunning waterfront property in Brooksville, Maine, offers remarkable design and unparalleled living. It features two wings connected by a striking glass-enclosed bridge, enhancing openness and light. The chef’s kitchen is fully equipped, complemented by a spacious recreation room and an elevator for ease of access. Bedrooms emphasize comfort, with the master suite providing a spalike en-suite bathroom. A separate guest house accommodates visitors, making the estate perfect for hosting. Outside, an expansive deck overlooks tranquil waters, ideal for outdoor relaxation, while scenic walking trails and private beach access enhance the serene experience. Brooksville’s charm, paired with nearby attractions like Blue Hill and Acadia National Park, makes this estate a peaceful, sophisticated retreat.
Offered at $14,000 per Week
Plus taxes, fees, and deposit
FEATURED RENTAL
This stunning home on the shores of Megunticook Lake features a luxurious main residence and a charming guest house above the garage, making it the perfect private getaway. Surrounded by lush trees and offering panoramic lake views, the property includes direct water access from a personal dock, ideal for swimming, boating, and fishing, along with a floating swim platform for refreshing dips. The main house boasts spacious, light-filled living areas with large windows, a gourmet kitchen with high-end appliances, and luxuriously appointed bedrooms, including a master suite with a spa-like en-suite bath. Outdoor spaces include a large deck, a fire pit, and a screened-in porch for relaxation. Conveniently located just minutes from Camden’s downtown, this property offers both adventure and a serene lakeside escape.
Offered at $10,000 per Week
Plus taxes, fees, and deposit
FEATURED RENTAL
Nestled on a sprawling lot in Northport, this newly constructed luxury home offers breathtaking ocean views and serene seclusion, making it the perfect escape. The open-concept living area features large windows that flood the space with natural light and showcase stunning views of Penobscot Bay. Enjoy a peaceful retreat on the porch or unwind in the luxurious hot tub within beautifully landscaped grounds. The home includes an entertaining room with a pool table and surround sound, a gourmet kitchen with high-end Wolff appliances, and multiple bedrooms with spa-like bathrooms. Conveniently located near Camden and Belfast, this property provides easy access to coastal Maine’s hiking, boating, and dining attractions, offering an unforgettable experience in comfort and style.
Offered at $7,800 per Week Plus taxes, fees, and deposit
A charming, fully renovated cottage perfect for summer getaways. Nestled on a private road on scenic Cousins Island, this coastal retreat harmonizes charm and modern amenities for a peaceful escape. Accommodating up to four guests, the cottage features an open-concept living space, a fully equipped kitchen, a private bedroom with twin beds, and an upstairs loft with a queen bed. Outside, a spacious 900-square-foot deck offers breathtaking ocean views, while a private path leads to the bay for kayaking and shoreline exploration. A mooring is available for boating, and despite its seclusion, the cottage is just a short drive from Yarmouth Village, Freeport, and Portland, blending tranquility with accessibility for a memorable vacation.
Offered at $3,500 per Week Plus taxes, fees, and deposit
Legacy Properties Sotheby’s International Realty’s continued success has allowed for the creation of a robust charitable giving program. In addition to charitable donations on the company level, “Legacy’s Legacy” was created as an agent-led initiative and is very special for the agents and the communities they serve.
Participating agents donate a portion of each of their closings to the fund, and each office selects a few local charities to donate to each year. The company has taken this collaborative approach to try and share as far and wide as possible.
Since the company’s inception, donations have been made to organizations in counties throughout the state of Maine on behalf of Legacy Properties Sotheby’s International Realty.
In addition to agent giving, the company also sponsors events such as Tri for a Cure, Sugarloaf Charity Summit, and Cape Elizabeth Kitchen Tour, as well as scholarship awards.
To view a list of recipients, please scan the QR code to the left.
SOCIAL MEDIA
Over 96,000 Real Estate Spotlight subscribers.
Over 3,000,000 YouTube property video views.
Over 72,000 followers interested in Maine real estate.
At Legacy Properties Sotheby’s International Realty, we use social media to connect your home to our vast community of real estate intenders and influencers from across the globe. Social Media, like real estate, is about connecting people and cultivating relationships, which makes it the ideal tool for marketing your home.
