What Will $1 Million Get You in Portland, Maine?

From historic neighborhood Victorians to chic downtown condos, Portland has it all.

Located just over 100 miles north of Boston, Portland, Maine is a Northeast port city home to incredible natural beauty with the real estate to match. A $1 million budget in this growing area with the perfect balance of coastal calm and hustle and bustle will garner a buyer substantial space and amenities regardless of of the vibe they’re seeking.

Despite its latitude, the temperature of Portland’s real estate market is hot. Redfin noted that the average asking price in the city increased 16.3 percent from September 2017 to September 2018, indicating a rise in costliness as well as value. Looking toward the future, Zillow predicts average home value in Portland will increase by approximately 6.3 percent in the next year. This data tips the scales in favor of Portland being designated as a seller’s market in the current climate, but buyers still have plenty of opportunity in this housing market.

If prospective homeowners are coming to the area for its history, there’s no shortage of appealing homes on the market. Elegant Victorians are scattered throughout the city’s neighborhoods, particularly the West End. Buyers in search of a home emblematic of Portland’s past will ogle at this recently sold Queen Anne style Victorian that was built in 1883. At nearly 3,500 square feet, the expansive, restored interior has 10 rooms across three floors, including five bedrooms.

Built in 1869, this 3,350-square-foot residence was once home to Declaration of Independence signatory William H. Whipple. How’s that for history? Located in the Parkside neighborhood of the city, the four-bed, four-bath home sits on the market for $1 million. Its ornate interior has been expertly preserved, as evidenced by hand painted walls and checkered maple floors that run from the foyer to the courtyard garden in the rear of the home.

Though the East End neighborhood of Portland is dotted with homes of both contemporary and historic architecture, it takes on a much more modern feel. This three-bed, three-bath home was completed in 2016 and sold for $963,000. An open floor plan fills its nearly 2,600 square feet, with a beautiful third-story deck complete with views of Casco Bay completing the home’s relaxed and flowing aesthetic.

For buyers seeking a more urban feel, downtown Portland has no shortage of high-end condos available. This two-bedroom condo sitting on the waterfront at Chandler’s Wharf boasts incredible views and easy access to the best of the Old Port neighborhood has to offer. For $850,000, its owners can enjoy a nautical, modern space complete with a deck and gas fireplace for comfort and ease, no matter the season.

This high-rise condo on the water, priced at $942,000, overlooks the Portland harbor and city skyline. Arched doorways add grandeur to the open floor plan of the two-bedroom, two-bathroom residence, whos best feature might be its spacious, high-end kitchen primed for entertaining. Buyers in Portland with $1 million to spend have no shortage of options, all of them luxurious in their own way.