Real Estate Spotlight March 2024

MAINE

A legacy of real estate.

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,

We are so fortunate to have the state of Maine as our canvas to represent so many buyers and sellers in pursuit of their real estate dreams. While it has always been rewarding, the satisfaction grows every year as Maine has become one of the most desirable places to live in the United States. We continue to have many more buyers seeking homes for both primary residences and seasonal homes than we have properties available for sale. In theory, this dynamic cannot last forever as economic cycles and interest rates fluctuate. However, there is little in the way of obvious change that will generate a different result in the foreseeable future.

According to the most recent statewide sales statistics published by the Maine Association of Realtors, there is a relatively consistent and muted year-over-year change when compared to the dramatic swings over the past four years. Sold properties (units) decreased by a modest 1.98%. Prices, as one would expect in a tight market environment for listing inventory, have increased by 8.62%. In fairness, the winter months (December–February) tend to be characterized by a lower volume of seasonal sales, which leads to increased volatility in the year-over-year changes.

In addition to the cyclicality and seasonality of Maine real estate sales, we also have a small population that is highly concentrated

in a few counties, which makes statewide data analysis hard to interpret. There are 16 counties in Maine that reported widely disparate results. In trying to identify trends, I analyzed the rolling quarter statistical report generated by the Maine Association of Realtors. Despite aggregating a quarter-year of data, only five of the 16 counties had more than 200 sales, and seven had fewer than 100 sales in a three-month period.

Cumberland County, which is home to Portland, Falmouth, Yarmouth, Cumberland, Cape Elizabeth, Scarborough, and Freeport, among many other towns, is the largest real estate market in Maine. As a perfect example of volatility away from the average price, the median home sale price was up nearly 17% over the comparative quarter on 578 sales. York County (York, Kennebunk, Kennebunkport, Ogunquit, Kittery, Wells, and others) experienced a very different result, with the median sale price increasing less than 3% as the number two home sale market in Maine. Should you want to get into the weeds and trends of other locations in Maine, please feel free to reach out to your Legacy Properties Sotheby’s International Realty agent.

For many of you who have been involved in the Maine real estate market, I am confident that you realize the importance of having a strong agent represent your interests and advocate for your ultimate success. The complexity of property offerings, access to the best buyers and best listings, and dedicated resources to help safeguard the process and your path to closing have never been more important.

We are looking forward to working with you in what appears to be an exciting spring market!

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.

THANK YOU FOR YOUR TRUST AND SUPPORT.

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 $2,000,000 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’s Legacy

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.

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 84 pages are

GLOBAL REACH

REAL ESTATE EXPERTS IN EVERY MARKET

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

Sotheby’s International Realty 2023

Brand Performance Stats

We are pleased to introduce the Sotheby’s International Realty 2024 Luxury Outlook report, the fourth annual in-depth exploration of the high-end residential markets across the globe.

Following several years of residential real estate frenzy, the report reveals that buyers have begun to acclimate to a new normal of higher interest rates, with highend home seekers expanding their searches to more parts of the world. It also explores the trends shaping real estate investment decisions in the year ahead, from the intergenerational transfer of wealth, to pinpointing parts of the world where tax incentives are increasingly enticing. Bloomberg broke the news on the report Thursday morning with an exclusive article recapping its findings.

Articles of Interest from the Report:

Hybrid Work Leads to Busier Suburbs, Some Deals to Be Had in the Cities Buyers Steer Money Toward Sustainable Homes

Real Estate Resilience: Building for an Uncertain Future

Where Cash Is Always King

Builder Confidence Grows Amid Strong Demand

Try-Before-Buy Mentality Boosts Luxury Rental Markets

With Real Estate Prices Rising and Tax Changes Coming, Strategizing Is Key Hotel-Style, At Home

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.

3 D VIRTUAL TOURS

Welcome to the always-open house. Our immersive Matterport 3D Virtual Tours transport you into the finest selection of Maine Luxury Properties and let you explore like never before. Use Dollhouse view to see a whole property at once, switch to floorplan view for a traditional top-down perspective, or walk through like you’re there in person. Our Matterport 3D Virtual Tours are unlike any other real estate virtual tours. They are the most realistic, cutting edge, and comprehensive way to experience a property online. Click on any of the thumbnail images below to experience the Maine Lifestyle from the comfort of your own home.

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

Majestic estate located in the distinguished Cape Arundel neighborhood in Kennebunkport, Maine. Crafted in 2007, this custom-built haven is nestled directly across from the iconic Bush Compound, surrounded by 60 acres of private, wooded land, offering an unrivaled blend of seclusion and luxury.The property greets you with a secure gated entrance and a picturesque cobblestone driveway winding through scenic views of a freshwater preserve, leading to the breathtaking oceanfront. The estate includes a cozy two-bedroom guesthouse, complete with all amenities for comfort and privacy, and a well-equipped Tennis Cabana overlooking the court and basketball area.This residence boasts a Niles audio system throughout, electronic controlled shades, an elevator, and a comprehensive fitness center with premium Cybex equipment. Entertainment is boundless here: a colossal game room, mini-theater, and various gaming tables await for endless fun.state-of-the-art outdoor turf putting and chipping green installed in 2017, complete with supplied clubs and balls for your leisure.

Offered at $35,500 per Week

Plus taxes, fees, and deposit

FEATURED RENTAL

We are welcoming this home back to the rental portfolio after a transformative renovation directed by wellknown local designer Tyler Karu. Available for monthly rentals over the summer and from September through June. Experience that epitomizes the essence of coastal living.

Step onto the backyard deck or ascend to the second-floor waterfront deck to immerse yourself in breathtaking ocean vistas, made even more captivating by the newly installed windows and expansive sliding doors that frame the view from every angle and enable indoor-outdoor living. The property boasts air conditioning, but the ocean breeze often renders it unnecessary—a testament to the natural comfort this home provides and its proximity to the shore.

Price Upon Request

FEATURED RENTAL

Discover the pinnacle of waterfront luxury at this newly constructed shingle-style estate, designed to offer an unparalleled living experience. Nestled on the serene shores of Casco Bay, this magnificent property presents breathtaking panoramic views of the surrounding islands, providing an idyllic backdrop for your ultimate retreat.

Spanning over 6,000 square feet, this timeless architectural masterpiece boasts more than just stunning vistas. The estate is meticulously designed to cater to the most discerning guests, featuring five opulent ensuite bedrooms, including two master suites located on both the first and second floors, ensuring privacy and comfort for all. Additionally, the property includes an ideally arranged in-law suite, making it perfect for extended families or groups.

Offered at $27,500 per Week

Plus taxes, fees, and deposit

FEATURED RENTAL

Embrace the serene elegance of Rockcraft Lodge, a magnificently renovated historic residence, nestled along 850 feet of the pristine Western shore of Sebago Lake. The home’s meticulous restoration harmonizes luxury with classic grandeur, showcased by the stunning stone masonry and dual fireplaces that anchor the main living space, paying homage to the lodge’s namesake.

The estate boasts expansive lawns that stretch towards a meticulously crafted wooden dock and a splendid outdoor patio, complete with a grill, offering an unparalleled setting for family gatherings or tranquil lakeside leisure.

Offered at $22,500 per Week

Plus taxes, fees, and deposit

FEATURED RENTAL

One of the best views in Old Orchard Beach. Welcome to the Ocean Pearl, a few steps from the famous 7-mile sandy beach. This brand new prime location luxury penthouse condo with three levels of living space and the expansive roof top deck with amazing views of the water and the famed Old Orchard Pier in a short distance.

The unit is extremely spacious and allows for numerous flexible sleeping arrangements for couples looking for an one-of-a-kind romantic experience or a whole family or friends taking advantage of the open concept layout.

The focal point of the property is the roof top deck for an amazing entertainment space. The penthouse condo has been newly remodeled and it has many luxury touches and the attention to details is second to none.

Offered at $7,500 per Week

Plus taxes, fees, and deposit 3 Bay

FEATURED RENTAL

Nestled beside the enchanting Camp Muscatawa, this standalone sanctuary offers both privacy and the option to expand by renting alongside the neighboring camp, perfect for groups seeking both proximity and solitude.

The main house boasts three beautifully decorated bedrooms, each crafted for comfort and style, alongside a private guest area featuring a versatile trundle bed. Embrace the blend of rustic charm and contemporary elegance, all while basking in the natural beauty of historic Camp Muscatawa’s grounds.

Your private escape extends outdoors with access to a new twenty-foot dock on the tranquil Kennebunk Pond.

Start your mornings with the peaceful serenade of loons and fill your days with swimming, sunbathing, or simply relaxing by the water’s edge.

Offered at $4,500 per Week

Plus taxes, fees, and deposit

31 Muscatawa Lane, Lyman

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.

MEET THE AGENTS

MEET THE AGENTS

MEET THE AGENTS

MEET THE AGENTS

MEET THE AGENTS

MEET THE AGENTS

MEET THE AGENTS

MEET THE AGENTS

MEET THE AGENTS

MEET THE AGENTS

It is with great pleasure and pride that we share our most significant sales for 2023.

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.

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207.780.9800 KENNEBUNK

150

Kennebunk, Maine 04043

207.967.0934 BRUNSWICK

Brunswick, Maine 04011

Camden, Maine 04843

6

Northeast Harbor, Maine 04662

207.780.8900

$2,950,000