Cape Elizabeth appreciation rates and housing market information

Cape Elizabeth housing market information

With 9,068 people, 3,724 houses or apartments, and a median cost of homes of $403,123, Cape Elizabeth house prices are not only among the most expensive in Maine, Cape Elizabeth real estate also is some of the most expensive in all of America.

single-family detached homes are the single most common housing type in Cape Elizabeth, accounting for 85.66% of the town's housing units. Other types of housing that are prevalent in Cape Elizabeth include row houses and other attached homes (6.34%), large apartment complexes or high rise apartments (4.59%), and a few duplexes, homes converted to apartments, or other small apartment buildings (3.28%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Cape Elizabeth. Owner-occupied housing accounts for 82.14% of Cape Elizabeth's homes, and 70.65% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Cape Elizabeth's housing was primarily built during this period, from the '40s through the '60s. A full 42.51% of the town's housing hails from this era. Other housing ages represented in Cape Elizabeth include homes built between 1970-1994 (34.29%), and housing constructed from 1939 and earlier (19.68%). There's also some housing in Cape Elizabeth built between 1995 and later (3.52%).

Cape Elizabeth home appreciation rates

Appreciation rates for homes in Cape Elizabeth have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 92.24%, which ranks in the top 30% nationwide. This equates to an annual average Cape Elizabeth house appreciation rate of 9.22%.

Over the last year, Cape Elizabeth appreciation rates have trailed the rest of the nation. In the last twelve months, Cape Elizabeth's appreciation rate has been -3.66%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Cape Elizabeth were at 0.09%, which equates to an annual appreciation rate of 0.36%.

Relative to Maine, our data show that Cape Elizabeth's latest annual appreciation rate is higher than 12% of the other cities and towns in Maine.