Episode 1: Maine’s 2024 Real Estate Market & Predictions for 2025

Send us Fan Mail📌 Episode Summary: In this episode of Elegant Maine Living, host Elise Kiely, Senior Vice President and Luxury Real Estate Advisor with Legacy Properties Sotheby’s International Realty, takes a deep dive into Maine’s real estate market in 2024 and shares her predictions for 2025.Elise explores key market trends, shares insights from real buyer experiences, and discusses how Luxury Active Baby Boomers (LABS) and Luxury Empty Nesters (LENS) are reshaping Maine’s real estate landscape. She also addresses the common question: Where are all these buyers coming from?If you're buying, selling, or simply curious about the Maine real estate market, this episode provides essential insights to help you navigate an increasingly competitive and evolving market.Key Topics Covered:✅ Maine’s Real Estate Market in 2024 – Key metrics, price trends, and buyer behavior ✅ Two Buyer Stories: The challenges of first-time buyers & the luxury segment’s impact ✅ Introducing LABS & LENS Buyers – How they are shaping all levels of the market ✅ 2024 Market Data & TrendsNumber of transactions increased statewide by nearly 5%Prices rose 8.4% across Maine, with significant gains in Cumberland & York countiesThe luxury market has expanded dramatically, with record-breaking sales✅ Where Are Buyers Coming From? – 70% of Maine’s buyers were already from Maine, while Massachusetts, New Hampshire, and Florida were top out-of-state sources ✅ 2025 Predictions:Transaction volume will continue to rise as buyers adapt to the new interest rate environmentLuxury buyers will continue to drive the market at all levelsMore wealth transfer from Baby Boomers will fuel entry-level and mid-market segmentsMaine’s appeal as a safe, community-oriented, and active lifestyle destination will continue to attract new buyersNotable Quotes:📍 “If there’s one word that describes the real estate market in 2024, it’s uncertainty.” 📍 “Luxury buyers aren’t just looking for homes—they’re looking for signature family legacy properties.” 📍 “6% is the new 3%—we’re not going back to historically low mortgage rates, and the market is adjusting to that reality.”Next Episode Teaser:Coming up next: A two part discussion with Christina McAnuff, Executive Director of The Olympia Snowe Leadership Institute.Be sure to subscribe so you don’t miss an episode!Thank you for listening to Elegant Maine Living—where elegance isn’t just an aesthetic, it’s a way of life.Elegant Maine Living explores Maine’s homes, communities, and people—through the lens of lifestyle, values, and thoughtful living. I host conversations with leaders, creators, and advisors who help illuminate what it truly means to live well in Maine.Connect with Elise🌐 Website & Listings: EliseKiely.com 📸 Follow Elise on Social Media:Instagram: @elisekielyrealestateFacebook: Elise Kiely Real Estate LinkedIn: Elise Kiely Have Questions or Topic Suggestions, e-mail Elise at [email protected], share with a friend, and join Elise every other week to discover what makes Maine not just beautiful—but beautifully lived.Please remember this podcast is for entertainment and educational purposes only and does not create an attorney client or real estate advisor client relationship.  Please reach out to me directly if I can assist you in your real estate journey.