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Old Orchard Beach Real Estate

Search for Homes & Condos for Sale | Community Profile

For over 100 years Old Orchard Beach has remained high on the list of most popular summer resorts on the East Coast. With its seven miles of fine sand beaches, seaside amusement park, family and fine dining restaurants, numerous lodging options (including hotels, motels, bed & breakfasts and family campgrounds), and 396 foot pier boasting over 20 shops and boutiques, Old Orchard Beach continues to attract tourists from all over the United States, Canada and abroad.

Old Orchard Beach, Maine

Located just south of Scarborough Old Orchard Beach starts at Pine Point Beach in Scarborough, and ends at Camp Ellis where the Saco River flows into the Atlantic Ocean. Old Orchard Beach’s 9,000 residents enjoy a friendly small town atmosphere and the convenience of municipal services normally associated with larger cities.

Beachfront Community 


The cities of Biddeford, Saco and Scarborough are immediate neighbors, offering a variety of services and shopping. The Southern Maine Medical Center in Biddeford provides quality medical care for the region. In nearby Prout's Neck is the Winslow Homer studio where the artist worked at the turn of the century.

New England's largest salt marsh is off Route 9 in nearby Scarborough providing guided walks and canoe tours. A few miles north is Portland, Maine's largest city, with a full array of stores, shops, and dozens of galleries and restaurants. The Old Port is a showcase for artists, musicians, actors and craftsmen, and its waterfront has bloomed into a business and shopping destination.

Old Orchard Beach is part of the RUS 23 school system, which includes Saco and Dayton.  Annual expenditures per student are $7,270 compared to a national average of $5,691.  The student/teacher ratio is 11.5.

Old Orchard Beach Real Estate

Unlike most communities in Maine, condo sales in Old Orchard Beach historically represent over 50% of all real estate sales annually and 2016 was no exception.  While 2014 was the first time that single family homes exceeded 100, 2016 was even better as 128 properties was sold, representing an increase of 12.3% - on par with Maine and York County and far exceeded results from Cumberland County.  Condo sales ended the year at 146, reflecting a small gain of 3.5%.

After experiencing price improvement in 2013, single family home prices declined in 2014 by 6.1%, which was unfavorable to other communities in York County.  This trend was reversed, however, in 2015 as the median price of $236,000 represented the highest level achieved in the last decade. In 2016 the median selling price increased yet again to $242,000 – setting a new record. Inventory in many way limited sales growth, as evidenced by the short time properties were on the market.  At 22 days, single family homes were selling quickly.

  
 

2017 Sales - YTD Results Through March 

  
 Prop
Type

Median Prices YTD
2017       |       2016 
 Unit Sales YTD
2017  |  2016 

Current
Inventory

%
U/C
          
  Homes $300,000$239,000 1719 
  43 55.81
  Condos $164,700$164,000 2822  39 61.53
            
 

All housing data has been compiled from research by Maine Home Connection using information from the Maine Real Estate Information System (MREIS) 

As condo sales improved for the fifth consecutive year, reaching a record level, pricing continued to increase.  Pricing of $204,000 represented an increase of 10.2%.  Like single family homes, inventory remained tight all year, approaching 15% lower than many other years, thus resulting in properties selling quicker than past years.  The DOM for condos in 2016 was 39 days, while the year-end absorption rate for condos was 4 months.

The Old Orchard Beach is all about the ocean and the beach and many condos include a view of this great feature.  In 2016 there were 35 condo sales with ocean views vs 26 in 2015.  Pricing for these properties increased from $305,000 to $340,000.

 
Old Orchard Beach Sales
YearUnitsPrice
   
2016128
$242,000
2015114
$236,000
2014106
$198,500
2013
90$212,450
201265
$165,000
201161
$174,900
201075$170,000
200966
$175,000
200853
$206,000
200765
$220,000
200665
$197,500
200570
$220,500
   

Single Famliy Homes

Units-Old Orchard Beach 2015

Prices-Old Orchard Beach 2015


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