These Maine cities are nonetheless hotspots for trip properties

These Maine cities are nonetheless hotspots for trip properties

Maine’s high trip areas, together with Bethel and Rangeley, are seeing sturdy demand for second properties, bucking a nationwide pattern exhibiting a dramatic drop in purchases.

The actual property web site Redfin discovered greater than a 50 p.c drop in these wanting to purchase second properties throughout the nation in contrast with pre-pandemic ranges, pushed down by increased rates of interest.

However that isn’t the case in Maine’s trip locations, that are seeing extra demand than provide of second properties and continued excessive costs. The state grew to become a secure haven for out-of-state consumers in the course of the COVID-19 pandemic. Demand for second properties has not abated, actual property brokers stated, with extra Mainers additionally shopping for property in childhood trip spots.

Rangeley, a bucolic western Maine city of 1,200 in Franklin County, noticed a “coronavirus increase” together with the 2020 sale of the Saddleback Mountain ski resort to Boston traders who upgraded it. Gross sales proceed at a brisk tempo, stated Jamie Eastlack, co-owner of Morton & Furbish Actual Property in Rangeley.

“Prior to now 12 months, we’ve seen extra new individuals come right here,” he stated. “The pandemic and Saddleback put Rangeley again on the map.”