Owning one home is the American dream—but owning a second home has become the norm in the past decade among both investors and luxury buyers.
And Maine in particular has become very popular among these buyers. In 2019, the state had the highest percentage of second homes owned, according to a study by IPX 1031. In 2023, two of the state’s counties, York and Cumberland, ranked among Pacaso’s top 10 markets with the biggest increases in second-home transactions.
But now, the state is facing a surge of second-home sales. The reason for folks fleeing the Pine Tree State? The economy.
Listings in Maine are on the rise
“We’ve definitely seen an uptick in second-home owners listing their properties, especially along the coast and near the lakes,” says Bailey Pate, owner and broker at Maine Real Estate Co.
In comparing active listing counts on Realtor.com, there’s been a 23.3% increase from January 2024 to January 2025, and a 27.4% increase comparing March active listings year over year. Additionally, new listings in Maine rose from 1,050 properties in February 2025 to 3,044 in March 2025.
Maine’s rise in inventory over the past six months has particularly been in markets where vacation homes are common.
“Scarborough, Kennebunk, and lakeside towns like Windham and Naples have all seen noticeable increases,” adds Pate.
According to Tom Landry, a real estate agent in Portland with Benchmark Real Estate, the driving force behind these sales is economic uncertainty and inflation.
In speaking to the Bangor Daily News, he stated that his clients are taking fast action, with one couple actually considering moving abroad. But for second-home owners, it’s more about cashing in on high equity while the market is still strong.
“We’re hearing from people who are looking to reduce exposure, cash out second homes, or rebalance their investments,” Landry said. “With economic volatility looming, many want the comfort of liquidity.”
However, the market isn’t being entirely cleaned out, according to Pate.
“It’s more of a shift in mindset than a full-on rush to sell,” he explains. “Many are still weighing whether to hold or list.”
Second homes have soared in Maine in recent years
In the Northeast, Maine has dominated as one of the top locales for buyers looking to invest in a second home. A survey by Pacaso in 2023 explored year-over-year growth in closed transactions of second homes in the U.S. that exceed $1 million.
York County earned the No. 3 spot on its list of the top 10 markets with the biggest increases in second-home transactions. Second-home sales went up by 16%, with the average sale price of $2,074,634.
Meanwhile, Cumberland County, which is home to popular Portland, ranked No. 5, with second-home transactions increasing by 14% and the average sale price of $1,716,197.
Why it might be good to sell
Prices in many parts of Maine are still elevated from the COVID-19 pandemic boom. In Cumberland County, for example, the median home sale price in February 2025 was $523,125, compared with $452,812 in March 2022. That’s an increase of more than $70,313.
In York County, the median home sale price was $534,515 in February 2025, $136,703 higher than the median home sale price of $397,812 in March 2022. Homeowners who bought even just a few years ago are often looking at six-figure gains, especially in coastal and lakefront areas.
“This is a big motivator for those considering selling their second homes—they’re capitalizing on significant appreciation while demand is still healthy,” says Pate.
