Summer is near. Here are tips for buying a seasonal camp in Maine

Summer is fast approaching, which means now is the time to strike if you're thinking about purchasing a seasonal camp in Maine.

It will not be an easy market to navigate. Although Redfin's housing inventory in Maine is up 23 percent since this time last year, supply remains very low. There are currently about 4,100 homes on the market, compared to nearly 10,000 just five years ago. According to Redfin, this has caused home prices to rise about 15 percent since this time last year. Combined with rising interest rates, this can further limit your options.

“This year in particular has been very hot for people looking for vacation properties,” said Jennifer O'Connor, associate broker at Casco-based Sunset Lakes Real Estate. “I don’t see prices going down, although I have seen some properties staying on the market longer than others.”

Anna Harden

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