$259,210Average Value$161Average Price per Sq Ft28Homes For Sale
A college town on the Kennebec River with a revitalized Main Street
As the name implies, Waterville’s fate rose on the currents of the Kennebec River, which flows along the east side. It was a mill town during the Victorian era, which led to boom years. Government buildings done up in Beaux Arts architecture, plus a Greek Revival post office, boosted the city’s profile. The presence of Colby College and Thomas College ensure that Waterville retains a kernel of cultural aspiration, giving it the reputation of an academic town. But on a broader scale, the town is focused on creating a healthy, balanced economy and a bustling Main Street. Manufacturing is still part of the town’s identity. “We have some major employers like T Mobile, but also several lumber companies, plus a plant on the water that produces paper plates,” says Don Plourde, a realtor with Coldwell Banker and a lifelong resident. “Colby College has invested about $200 million in the revitalization of Main Street. This has spurred other developers. The old Lockwood Mill at the end of Main is being converted into multi-family units. The sidewalks have been widened, too. In the summer you’ll see plenty of people enjoying open air dining.”
Welcome to Downtown Waterville, ME.
Waterville's economy historically relied on the Kennebec River.
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'Wide range of homes' in Waterville
The town is modestly sized at 16,000 people, but there isn’t just one type of housing style here. “We have a wide range of homes, including multi-family and single family, some of which can be quite large colonials,” says Plourde. Classic styles like Cape Cods and ranches are lined up along sidewalks and usually have mature trees on the lot. Assorted two-story homes from the early 1900s are also in the mix, topped by a sharply gabled roof. Sometimes they feature a front porch while other times they have a flat façade. Some of the colonials that Plourde mentions are brick, reminiscent of City Hall. They can grow up into the 5,000 square foot range, priced at around $600,000. But the local median is $248,000 — greatly below the national median.
Cape Cod homes are common along the streets of Waterville.
Beautiful historic homes are a common sight near downtown Waterville.
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Colby College and Thomas College have dynamic campuses
Waterville Public Schools receives a C-plus from Niche. Colby College is a private liberal arts institute with over 2,000 students. The campus is known for its Neo-Georgian architecture that overlooks downtown Waterville. The student body is a similar size at Thomas College, where nearly half are involved in varsity sports. Plus, the esports program is gearing up to expand facilities and coaching staff.
Colby College is a large employer and important economic driver for the Waterville area.
Waterville High School serves students in grades 9-12.
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Programs for kids at North Street Recreation Area
Seasonal fluctuations play a part in Waterville’s identity. The surrounding area is populated with lakes, making summer a natural time for tourists to descend. “The Belgrade Lakes are 20 minutes from here, and there are beaches at some of them,” says Plourde. “There’s a fair amount of kayaking and canoeing on the Kennebec River in the summertime. You can go all the way down to Augusta. It’s nice, I’ve done it a few times.” The North Street Recreation Area brings plenty of fun with a playground, trails, athletic facilities and a pool with water park. “It’s great for kids in the area,” says Plourde. “There are lots of programs connected with the YMCA.” Dog owners can go to the fenced in Waterville Dog Park. Each July, the Maine International Film Festival screens 100 films over 10 days at local venues.
The Kennebec River offers Waterville residents beautiful scenery and wildlife viewing opportunites.
Waterville kids enjoy the playground at North Street Rec Area throughout the year.
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Cozy eateries on Main Street, plus big-box stores at Elm Plaza
Main Street is packed with locally owned businesses, giving residents a restaurant row to walk through. Cafes, pubs and bakeries make up the backbone, but there are also quiet sit-down locations. “I like Amici’s,” says Plourde. “It’s authentic Italian food.” Thursdays on Front Street brings out a farmers market. There’s no shortage of retail therapy, either. “There are a couple of shopping centers at each main artery coming into town, one of the most popular being the Elm Plaza,” says Plourde. Large amenities include Walmart and a Hannaford grocery store, but fast casual restaurants are nearby too.
Waterville residents can shop the wide variety at Elm Plaza.
Amici's Cucina is a local Waterville favorite for Italian fare.
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Commuting on U.S. Route 201 and Interstate 95
A walkable Main Street is certainly part of Waterville’s appeal, but residents will want a car. Interstate 95 on the west end is good for exploring the wider region, while Route 201 on the east end is a reliable straight shot to downtown Augusta, less than 20 miles south.
A slight reduction in overall crime
Waterville Police report that total offenses reduced slightly between 2022 and 2023, although total arrests were up slightly during that period. Property crimes vastly outweighed violent crimes.
Written By
Paul Spencer
Photography Contributed By
Colin Gee
Video By
Chris Freeman
Interested in learning more about homes in this area?
Reach out to
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Agents Specializing in this Area
Patricia Berry
Better Homes & Gardens Real Estate/The Masiello Group
GreatSchools:
The GreatSchools Rating helps parents compare schools within a state based on a variety of school quality indicators and provides a helpful picture of how effectively each school serves all of its students. Ratings are on a scale of 1 (below average) to 10 (above average) and can include test scores, college readiness, academic progress, advanced courses, equity, discipline and attendance data. We also advise parents to visit schools, consider other information on school performance and programs, and consider family needs as part of the school selection process.
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On average, homes in Waterville, ME sell after 29 days on the market compared to the national average of 52 days. The median sale price for homes in Waterville, ME over the last 12 months is $250,000, up 2% from the median home sale price over the previous 12 months.
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