Out-of-staters are moving to Maine, but a majority of them may be moving a shorter distance than you may think

According to information from Mainebiz article 'Here's A Breakdown on where Maine out-of-state home buyers are coming from', 2020 saw 21,000 homes sold, with some 70% of home buying from in-state residents and 30% from out-of-state home buyers.

In 2019, Mainers accounted for 75% of home purchases, so 2020 saw a decline of Mainers buying homes within the state.

From statistics gathered from Maine Real Estate Information Systems, breaking down that 30% tells you that those "from away" are really not from that far away.  In fact, most of them are from other New England states.

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Out-of-staters from Massachusetts were top of the list when it came to that 25-percent "from-away" home buyers in 2020 for the State of Maine. Massachusetts residents bought 1,833 homes. Next, New Hampshire: Maine's only neighboring state, New Hampshire, came in second when it came to out-of-staters purchasing homes in the State of Maine, with a total of 812 homes bought by New Hampshire residents here in the state.

Here's how a list view of out-of-staters who purchased homes here in the State of Maine in 2020 looked:

  1. Massachusetts residents: 1,833 homes bought
  2. New Hampshire residents: 812 homes bought
  3. New York residents: 414 homes bought
  4. Florida residents: 373 homes bought
  5. Californian residents: 277 homes bought
  6. Connecticut residents: 249 homes bought
  7. New Jersey residents: 219 homes bought
  8. Texas residents: 144 homes bought
  9. Colorado residents: 120 homes bought

Last year saw an incredible price jump in median home prices that went from a median home price of $225,000 in 2019 to $256,000 in 2020, according to Maine Realtors.com. Last year was the first year ever that all houses that were sold had a selling price that was greater than $100,000.

The trends continue climbing into the new year with March home sales in Maine reaching a median average selling price of $268,500. Not only is the sold price still increasing in 2021 but homes are being bought quicker with an average listing time of 11 days in the month of March of this year, compared to 44 days in 2020.

Check out more of the latest statistics about home sales here in the State of Maine at the MaineRealtors.com website.

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