Sanford appreciation rates and housing market information
Sanford housing market information
With a population of 20,925, 8,500 total housing units (homes and apartments), and a median house value of $164,886, Sanford real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Sanford, accounting for 52.93% of the town's housing units. Other types of housing that are prevalent in Sanford include duplexes, homes converted to apartments or other small apartment buildings (27.48%), large apartment complexes or high rise apartments (13.31%), and a few mobile homes or trailers (5.30%).
People in Sanford primarily live in small (one, two or no bedroom) single-family detached homes. Sanford has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Sanford built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Sanford built before 1939 (33.99%). A lesser amount of the housing stock also hails from between 1940-1969 (19.79%). There's also some housing in Sanford built between 2000 and later (9.50%).
Vacant housing appears to be an issue in Sanford. Fully 11.10% of the housing stock is classified as vacant. Left unchecked, vacant Sanford homes and apartments can be a drag on the real estate market, holding Sanford real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Sanford home appreciation rates
Appreciation rates for homes in Sanford have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 28.57%, which ranks in the top 30% nationwide. This equates to an annual average Sanford house appreciation rate of 2.54%.
NeighborhoodScout's data show that during the latest twelve months, Sanford's appreciation rate, at 2.93%, has been at or slightly above the national average. In the latest quarter, Sanford's appreciation rate has been 0.64%, which annualizes to a rate of 2.60%.
Relative to Maine, our data show that Sanford's latest annual appreciation rate is higher than 90% of the other cities and towns in Maine.
One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Sanford differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Sanford - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Sanford real estate investment or home purchase decisions.