As summer winds down, the real estate market in Scarborough and surrounding towns is holding strong. Prices remain elevated, inventory is slowly improving, and both buyers and sellers are adjusting to the rhythm of a changing but still competitive market.
Market Snapshot
In Scarborough, the median home price is now above $700,000, and demand continues to outpace supply. Well-priced, move-in-ready homes are still selling fast—often in under a week. However, buyers are being more thoughtful, and homes that aren’t priced or presented well are sitting longer than they did in the spring.
Mortgage rates are holding steady in the 6–6.5% range, which has cooled some of the frenzy but hasn’t stopped serious buyers from making strong offers—especially in towns with high lifestyle appeal and access to Portland.
Neighborhood Highlights
- Cape Elizabeth continues to attract buyers looking for coastal luxury and great schools.
- South Portland remains a favorite for its walkability, urban amenities, and access to the waterfront.
- Old Orchard Beach offers beach-town charm and seasonal appeal, with investment opportunities on the rise.
- Gorham and Windham provide more space and value for families or first-time buyers willing to be slightly inland.
New construction—like the condos at The Downs in Scarborough—is also creating buzz, offering modern design and low-maintenance living in a prime location.
Seasonal Shifts
Late summer typically brings a more balanced pace to the market. Some second-homeowners are beginning to list properties, and we’re seeing more options hit the market compared to earlier in the year. Buyers are still out there, but they’re prioritizing condition, energy efficiency, and long-term value.
Expert Insight from Maineland Real Estate
“Late summer is a strategic window,” says Jon Howard, owner and broker at Maineland Real Estate. “Sellers can benefit from motivated buyers still in the market, and buyers may find less competition and more room to negotiate—if they act fast on the right property.”
— Jon Howard, Owner & Broker, Maineland Real Estate
Tips for Navigating the Market
- Buyers: Be financially prepared and ready to act, but take the time to find a home that truly fits your needs.
- Sellers: Focus on presentation and pricing. Homes that are clean, updated, and market-ready are still moving quickly—and often with strong offers.
Whether you’re planning to buy, sell, or simply explore your options, the late summer market in and around Scarborough still holds great opportunities. Jon Howard and the team at Maineland Real Estate are here to help you navigate with confidence.
