Buyers look outside the city as home prices climb
NORTH SACO (WGME) -- As home prices continue to climb, some prospective buyers are looking farther outside the city.
"As people have been looking for inventory in Portland, houses to buy, there's fewer options," says Rob Edgerley at Maine Life Real Estate.
Expanding that home search can offer more options. Edgerley says areas like North Saco can offer more space at a lower cost.
"We're moving out towards Dayton and Buxton and Hollis," he says, "Population is a little bit less dense and your lot sizes are larger."
Some parts of North Saco also offer water access on the Saco River.
"You have some of the best access to swimming, kayaking, fishing, it's absolutely beautiful," Edgerley says.
According to the Maine Association of Realtors, Maine Listings reported the median home sales price jumped more than nine percent in July. Home prices continue to rise, which is good for current homeowners, but can be an obstacle for first-time buyers. Edgerley says some of those buyers are trading in a short commute to get more of a bang for their buck.
"The commute time could be 30 minutes away, very good roads, and they're looking at that as a viable option to set down the roots and get more space and more house for the money," Edgerley says.
The Maine Association of Realtors also says fall is a great time of year to search for a home because sellers are motivated to move before the holidays and winter.