Maine Enters Its $10 Million Home Era

Dow Jones
Aug 15

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Maine doesn't necessarily scream "high-end coastal enclave" like the Hamptons or Nantucket, but the state's craggy coastline is becoming an increasingly sought-after destination for well-heeled buyers.

E.B. Solomont reports that only 10 homes in Maine have ever sold for $10 million or more, but five of those sales have closed in the past three years -- fueled initially by a Covid-era boom that brought city dwellers to more remote areas. And the number of luxury sales, defined as $2 million or more, more than doubled between 2020 and 2025, according to data compiled by Stewart Young of LandVest.

"I don't think we've come close to hitting our potential," says Sam Michaud, a real-estate agent from Legacy Properties Sotheby's International Realty. Michaud is listing a $16.5 million Cape Elizabeth home, which has views of five different lighthouses.

In the midst of wildfires in Spokane, Wash., homeowners are using security cameras such as Ring and Blink, wildlife cameras and drones to keep tabs on their properties. Some have watched as their houses burned, while others are keeping an eye out for looters. For many, these cameras are the only way of knowing what's happening as affected neighborhoods and streets are cordoned off by authorities.

"I'm refreshing it like crazy, checking it every hour or so," said Rachel Bardwell, referring to her Ring app. The house where Rachel and her husband, Tyler Bardwell, live didn't burn in the wildfire, but houses just two blocks away did.

Maine's Luxury Market Is Looking More Like the Hamptons and Nantucket

A number of deals at $10 million and up are reshaping the state into a high-end destination.

They Fled Wildfires and Watched the Flames Approach From Their Phones

Homeowners leverage security cameras to monitor properties, communicate with firefighters and in some cases, watch their homes succumb to the blaze.

What's the Deal?

Going once, going twice? An equestrian property in Kentucky is heading to an invitation-only horse auction while simultaneously listing for $57.5 million.

A waterfront home with its own nightclub in Miami Beach, Fla., has sold off-market for $51.5 million. The sum is a record for the gated Hibiscus Island.

In California, a circular home that can rotate clockwise or counterclockwise is hitting the market for the first time ever. The property is listed for $3.3 million.

Want to see more deals? Sign up for our Mansion Deals email alert to have the biggest and best luxury home sales and listings delivered to your inbox.

The Luxe Life

The owners of an Arizona desert home traded porcelain for crystal agate, natural wood and gold-embossed vinyl to create a $500,000 bathroom.

"Don't Say Good Luck" actor Jon Lovitz says he always wanted to perform. "My dad was a doctor who originally wanted to be an opera singer and sang a lot at home, so maybe that was it."

House of the Week

WSJ's House of the Week takes readers to Texas, where one couple built a home for their retired years. During a weekend trip to Austin in 1993, they visited a lakefront property with a private cove. Once they were back home in Los Angeles, the couple woke in the middle of the night with the same realization: They had to go right back to Austin to buy it.

In the early 2000s, they demolished the old home, keeping just the kitchen by putting a protective shell around it. They put a new three-story home in its place.

Some House of the Week housekeeping: you voted for this Colorado property built around two circa-1900 sheds as your June House of the Month, and this new Charleston home with an old soul as the July winner. Check back soon to crown our winner for August!

Your Home

   -- Home sales fell in July, getting the summer off to a poor start after the 
      housing market suffered through another sluggish spring selling season. 
 
   -- The average asking rent across the San Francisco metropolitan area has 
      risen 18% in less than two years to $3,728 a month, according to CoStar. 
 
   -- Actual part-time city dwellers are looking for ways to reduce or get out 
      of New York's pied-à-terre tax. 

About Us

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Kerry Barger is Mansion's senior platform editor. Say hi at Kerry.Barger@wsj.com or connect with her on LinkedIn.

Candace Taylor is the editor of Mansion. Reach her at Candace.Taylor@wsj.com.

 

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