Living in Bailey Island, ME
Bailey Island, Maine is an idyllic coastal community known for its stunning ocean views and rich maritime history. The island features charming shops, fresh seafood restaurants, and beautiful outdoor spaces perfect for recreational activities. Its close-knit community and accessibility to the mainland make it a desirable location for a peaceful coastal life.
Current Market Conditions in Bailey Island, ME
The real estate market on Bailey Island has seen a steady increase in demand as homebuyers seek out tranquil living spaces by the ocean. The appeal of coastal homes, particularly those that offer stunning waterfront views, continues to attract both seasonal visitors looking for summer retreats and families seeking permanent homes. Listings have been strong in 2023, with homes selling quickly, especially in key areas near the shore.
Average home prices on the island have risen over the past year, driven by a limited supply of available properties. Many homes on Bailey Island are unique and often feature classic Maine architecture, but the rise in interest has put upward pressure on prices, with coastal homes commanding significantly higher amounts due to their location.
Home Value Estimator For Bailey Island, ME
There are currently 216 real estate properties
in Bailey Island, ME,
with a median automated valuation model (AVM) price
of $790,182.00. What is an AVM? It is
a smart computer program that analyzes and predicts the approximate value of a home,
property or land in Bailey Island, ME, based on current market
trends, comparable real
estate sales nearby, historical data and, of course, property features, among other
variables. These automated home estimates are often very helpful, providing buyers
and
sellers with a better idea of a home’s value ahead of the negotiation process. For
example,
the average home price in Bailey Island, ME,
is $912,699.00, with the most expensive house
in Bailey Island, ME, topping out
at $3,756,175.00 and the cheapest home
in Bailey Island, ME,
clocking in at $183,215.00. In other words, there’s
something for every potential homebuyer
or savvy investor in Bailey Island, ME!
Rent Prices
In Bailey Island, ME
With the expiration of certain local, state and federal housing-related restrictions
and
mandated programs, the rental market in Bailey Island, ME, is on
a rollercoaster ride. The
average rent price in Bailey Island, ME,
is $1,894.00. Indeed, when looking to rent in
Bailey Island, ME, you can expect to pay as little
as $1,380.00 or as much
as $2,610.00,
with the average rent median estimated to
be $1,870.00. The good news is that finding
an affordable and desirable property to rent in Bailey Island, ME
-- whether it’s apartments,
townhomes, condominiums or single-family homes -- is made easier with knowledge of
the
local market and, of course, a little patience.
Learn more on Foreclosure homes
