Homes along Maine’s coast offer beautiful views, but they mostly come at unaffordable prices.
The coast has been the epicenter of the state’s pandemic-era spike in home prices, which was caused by a wave of out-of-state demand for low housing inventory. Tiny cottages have been bought and built up into mansions, and empty lots or tear-downs can even go for millions.
Most of the affordable coastal property is concentrated Down East, where we rounded up four examples of oceanfront property at prices near or below Maine’s median market price.
More than 6 acres on a secluded bay
$425,000, Steuben
This stunning, secluded spot in the small village of Steuben includes a 2-bedroom cottage with 2,000 feet of private ocean frontage along Dyer Bay. The entire property, which spans 6.5 acres, would easily go for triple its $425,000 price point in southern Maine, listing agent Jennifer Anderson said.
The property is available turn-key, but it doesn’t have a septic system or running water, said Anderson, an agent with NextHome Experience. That’s fairly typical of coastal properties along the more remote Bold Coast, which are often seasonal spots built decades ago.
“It’s going to take the right buyer to come in with a vision and either appreciate the ability to unplug and just enjoy nature, or [put] an additional $500,000 in the infrastructure,” she said.
A charming cape by the sea
$249,000, Machiasport
This 3-bedroom, 1-bathroom cape is in Machiasport, just steps from the village’s historic bay. The 1800s timber-frame home offers water views and more than 1,400 square feet of living space for less than $250,000
It’s been recently renovated, according to its online listing, with updated rooms and new, energy-efficient windows. The home is near a beach, the Fort O’Brien State Historic Site, the University of Maine at Machias, and is a 15-minute drive from Roque Bluffs State Park.
A former donut shop turned house
$379,000, Whiting
This cottage on an acre of wooded land with a stream with commanding views of Holmes Bay was formerly a doughnut shop, co-listing agent Caitlin Childers said. A family moving to Maine from out of state bought it a couple of years ago and made it their full-time residence, she said.
It’s a charming home with three bedrooms, two bathrooms and recent updates including a new roof, new storm doors and windows, as well as new plumbing and electrical systems, according to its online listing. It’s a 15-minute drive from the town of Machias, is close to hiking trails and boasts nearly 300 feet of waterfront shared with one neighbor.
The property has seen some strong interest since it was listed in September, from a range of buyers mostly interested in the region because of its beauty and tranquility.
“I had someone look at it who was interested in doing Airbnb. The last five people, I believe, that have looked at it wanted to do full-time, year-round,” Childers said. “And it’s great for retired people to young families.
This cozy island home
$129,000, Beals
This 3-bedroom, 1-bathroom cape-style home on Beals Island sits on a small lot along Alleys Bay and offers sweeping views of the ocean. While the house needs cosmetic upgrades, listing agent Ronald Gallant Jr. said it’s a worthwhile investment.
“It’s a nice little house, nice and straight and strong,” Gallant, designated broker of Drop Anchor Realty, said. “And, $129,000, I mean, you can buy that and it’s cheaper than renting.”
Some prospective buyers have been turned off by island living, since drinking water is scarce on Beals, and the fewer employment opportunities farther up the coast, Gallant said. But plenty of buyers priced out of southerly coastal areas are still coming Down East, hungry for a deal.
“It’s the last refuge for somewhat affordable [oceanfront] places,” Gallant said.