Bourne, MA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Bourne, MA Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Bourne Housing Market Information

With a population of 19,681, 8,292 total housing units (homes and apartments), and a median house value of $385,478, real estate costs in Bourne are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Massachusetts communities.

Single-family detached homes are the single most common housing type in Bourne, accounting for 80.70% of the town's housing units. Other types of housing that are prevalent in Bourne include duplexes, homes converted to apartments or other small apartment buildings ( 7.86%), large apartment complexes or high rise apartments ( 6.15%), and a few row houses and other attached homes ( 4.48%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Bourne. Owner-occupied housing accounts for 74.79% of Bourne's homes, and 58.44% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Bourne 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 Bourne built between 1940-1969 ( 29.33%). A lesser amount of the housing stock also hails from before 1939 ( 20.14%). There's also some housing in Bourne built between 2000 and later ( 10.69%).

Vacant housing appears to be an issue in Bourne. Fully 27.70% of the housing stock is classified as vacant. Left unchecked, vacant Bourne homes and apartments can be a drag on the real estate market, holding Bourne 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.

Bourne Home Appreciation Rates

Bourne's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Bourne during the period has been just -0.87%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Bourne's appreciation rate, at 3.84%, has been at or slightly above the national average. In the latest quarter, Bourne's appreciation rate has been 0.10%, which annualizes to a rate of 0.41%.

Relative to Massachusetts, our data show that Bourne's latest annual appreciation rate is lower than 60% of the other cities and towns in Massachusetts.

One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Bourne differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Bourne - 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 2000, to assist you in making the best Bourne real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$385,478

Bourne, MA HOME PRICES

Value Range
> $1,106,000 2.2
$829,001 - $1,106,000 2.9
$553,001 - $829,000 8.2
$442,001 - $553,000 17.6
$332,001 - $442,000 29.3
$221,001 - $332,000 28.6
$110,001 - $221,000 7.6
$55,001 - $110,000 0.3
$0 - $55,000 3.2

Average for MA
Very High for Nation

Value Relative to Nation Value Relative to State
10.1488339388257 46.7948717948718

Number Of Homes And Apartments:
8,292

Bourne Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MA*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
59.30% 2.74% 8 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,325 / per month

Homeownership Rate

Homeownership
Owners 74.79
Renters 25.21
Vacant 27.70

Housing Market Details

 

Age of Homes

AGE OF Bourne HOMES
2000 or Newer 10.7
1970 - 1999 39.8
1940 - 1969 29.3
1939 or Older 20.1

Types of Homes

TYPE OF Bourne HOMES
Single-Family 80.7
Townhomes 4.5
Small Apt. Buildings 7.9
Apt. Complexes 6.1
Mobile Homes 0.8
Other 0.0

Home Size

SIZE OF Bourne HOMES
No Bedroom 0.99
1 Bedroom 6.74
2 Bedrooms 29.29
3 Bedrooms 41.49
4 Bedrooms 16.95
5 or more bedrooms 4.54