Sanford appreciation rates and housing market information
Sanford housing market information
With a population of 20,911, 8,500 total housing units (homes and apartments), and a median house value of $169,452, 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 53.48% 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 (26.77%), large apartment complexes or high rise apartments (13.37%), and a few mobile homes or trailers (5.34%).
The most prevalent building size and type in Sanford are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 60.66% owning and 39.34% renting.
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 (34.99%). A lesser amount of the housing stock also hails from between 1940-1969 (19.75%). There's also some housing in Sanford built between 2000 and later (9.63%).
Vacant housing appears to be an issue in Sanford. Fully 11.42% 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
In the last 10 years, Sanford has experienced some of the highest home appreciation rates of any community in the nation. Sanford real estate appreciated 44.84% over the last ten years, which is an average annual home appreciation rate of 3.77%, putting Sanford in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Sanford definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Sanford that despite a nationwide downturn in the housing market, Sanford real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Sanford appreciation rates continue to be some of the highest in America, at 4.24%, which is higher than appreciation rates in 81.55% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Sanford. Sanford appreciation rates in the latest quarter were at 1.80%, which equates to an annual appreciation rate of 7.40%.
Importantly, this makes Sanford one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
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.