Bourne, MA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Bourne, MA Real Estate Data


Bourne Housing Market Information

With a population of 19,681, 8,152 total housing units (homes and apartments), and a median house value of $397,827, 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 79.74% 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 ( 7.73%), large apartment complexes or high rise apartments ( 6.97%), and a few row houses and other attached homes ( 4.61%).

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 74.95% of Bourne's homes, and 56.76% 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 ( 29.29%). A lesser amount of the housing stock also hails from before 1939 ( 20.96%). There's also some housing in Bourne built between 2000 and later ( 10.68%).

Vacant housing appears to be an issue in Bourne. Fully 27.77% 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

Real estate appreciation rates in Bourne's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.62% during the period.

Appreciation rates are so strong in Bourne that despite a nationwide downturn in the housing market, Bourne real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Bourne appreciation rates continue to be some of the highest in America, at 6.62%, which is higher than appreciation rates in 81.27% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Bourne. Bourne appreciation rates in the latest quarter were at 2.20%, which equates to an annual appreciation rate of 9.10%.

Relative to Massachusetts, our data show that Bourne's latest annual appreciation rate is higher than 80% 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:
$397,827

Bourne, MA HOME PRICES

Value Range
> $1,156,000 1.7
$867,001 - $1,156,000 3.2
$578,001 - $867,000 11.1
$463,001 - $578,000 13.5
$347,001 - $463,000 30.9
$231,001 - $347,000 28.9
$115,001 - $231,000 7.4
$58,001 - $115,000 0.4
$0 - $58,000 3.1

Average for MA
Very High for Nation

Value Relative to Nation Value Relative to State
9.80265854658312 44.8717948717949

Number Of Homes And Apartments:
8,152

Rent & Ownership

 

Average Market Rent:
$1,265 / per month

Homeownership Rate

Homeownership
Owners 74.95
Renters 25.05
Vacant 27.77

Housing Market Details

 

Age of Homes

AGE OF Bourne HOMES
2000 or Newer 10.7
1970 - 1999 39.1
1940 - 1969 29.3
1939 or Older 21.0

Types of Homes

TYPE OF Bourne HOMES
Single-Family 79.7
Townhomes 4.6
Small Apt. Buildings 7.7
Apt. Complexes 7.0
Mobile Homes 0.9
Other 0.0

Home Size

SIZE OF Bourne HOMES
No Bedroom 1.19
1 Bedroom 7.53
2 Bedrooms 30.00
3 Bedrooms 41.11
4 Bedrooms 15.65
5 or more bedrooms 4.52

Bourne Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MA*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
66.13% 3.03% 9 8
* 10 is highest