Years ago, on a business trip to San Francisco, I told the cab driver I was from Maine. He replied with, “is that part of Canada?”
Well today, it’s safe to say that most everyone knows exactly where Maine is on the map. The Pine Tree State’s popularity accelerated during the pandemic, bringing in more out-of-state buyers and pushing real estate prices way up.
More people ‘from away’
While Mainers still make up the lion’s share of home purchases, the percentage of out-of-state buyers is increasing. According to the Maine Real Estate Information Systems (MREIS), 29.71% of single-family buyers in all of 2020 came from outside of Maine. In the first quarter of 2021, that percentage rose to 34.29%. That same data shows that for the past two years the top 10 states they moved from were, in order from highest, Massachusetts, New Hampshire, New York, California, Florida, Connecticut, New Jersey,…