The warblers have returned to the forests of Lamoine and soon boats will bob on their moorings in Lamoine State Park and along the shores of Eastern & Frenchman Bays.  With all the changes Spring brings, one aspect that looks to not be changing this year is the real estate market for Lamoine.  Much like 2021 & 2022, 2023 appears to be another low inventory/high demand season for real estate not only in Lamoine, but for most of the coastline in Hancock County, especially so for towns surrounding Acadia National Park.  In fact, Spring 2023 may be the lowest level of inventory we have seen in our 19 years of full time brokerage here.

While the current market conditions are a delight to most sellers, they continue to disappoint many buyers.  We have seen anecdotal signs of some buyers stepping out of the market based on frustration experienced with multiple offer scenarios, inability to compete with cash buyers and climbing values.  Increasing interest rates are also serving to dampen some buyers’ aspirations, but this does not seem to have had all that significant of an impact on the level of buyer demand locally, especially so with waterfront buyers.  This all said, there does not seem to be an end of folks coming to Hancock County with interest in buying property along our beautiful coastline.  The current low level of inventory remains vastly overwhelmed by the high buyer demand.  Though interest rates are forecast to continue their creep higher in 2023 (albeit less so than in 2022), all signs point to 2023 being another stellar year for sellers on the water in Lamoine, another frustrating year for many buyers and an absolutely ecstatic year for the lucky few who manage to purchase a home or land on these fine shores.

Looking at the numbers, as of May 31, 2023, only 2 homes and 7 land parcels have sold on Lamoine’s waterfront since January 1, 2022.  The 2 home sales averaged 10 days on market before going under contract and neither found it necessary to lower their list price before going under contract.  This means home sellers on the water in Lamoine are generally receiving near, at or above their list prices these days.  With the land sales, if we remove the only 1 of 7 land sales with extended time on market (which is also the only land sale that received a list price reduction), we find that waterfront land sales in Lamoine averaged 43 days on market before going under contract and did not need list price reductions to find a buyer.  So, pretty much the same “seller strong” scenario for land, just taking a bit longer to get under contract.  

There are currently two Lamoine waterfront properties under contract to sell (both are land parcels).  There are NO waterfront homes currently on the market available to purchase (we’re not including the home at 32 Lobster Lane, Lamoine listed for $4,899,999, as this property is mostly of a commercial nature).  There are 4 waterfront land parcels currently on the market available to purchase.  Wow…talk about low supply, this is the definition of it.  Below is a rundown on all these waterfront properties.  The “SOLD” listings display their associated purchase prices.

Hoping that you have enjoyed our Spring 2023 market summary for Lamoine’s lovely shorefront brought to you by Pemetic Purveyors.  We have lived on the water next door in Trenton for over 20 years and love to assist both sellers and buyers in Lamoine.  Please consider our services when you or those you know are in need of expert brokerage assistance.

Until next time, counting down the days ’til Summer!

Ryan & Julee

SOLD (From Jan. 1, 2022 to May 31, 2023)

UNDER CONTRACT (As of May 31, 2023…both are land parcels)

AVAILABLE TO PURCHASE (As of May 31, 2023…all are land parcels)