Cape Elizabeth, ME
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Cape Elizabeth, ME 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

Cape Elizabeth Housing Market Information

With 9,304 people, 3,781 houses or apartments, and a median cost of homes of $420,750, 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 86.17% of the town's housing units. Other types of housing that are prevalent in Cape Elizabeth include row houses and other attached homes ( 6.35%), duplexes, homes converted to apartments or other small apartment buildings ( 3.79%), and a few large apartment complexes or high rise apartments ( 3.69%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Cape Elizabeth. Owner-occupied housing accounts for 88.97% of Cape Elizabeth's homes, and 66.81% 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 39.42% of the town's housing hails from this era. Other housing ages represented in Cape Elizabeth include homes built between 1970-1999 ( 30.39%) and housing constructed before 1939 ( 21.41%). There's also some housing in Cape Elizabeth built between 2000 and later ( 8.79%).

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 5.27%, which ranks in the top 40% nationwide. This equates to an annual average Cape Elizabeth house appreciation rate of 0.51%.

NeighborhoodScout's data show that during the latest twelve months, Cape Elizabeth's appreciation rate, at 4.27%, has been at or slightly above the national average. In the latest quarter, Cape Elizabeth's appreciation rate has been 0.64%, which annualizes to a rate of 2.56%.

Relative to Maine, our data show that Cape Elizabeth's latest annual appreciation rate is lower than 50% of the other cities and towns in Maine.

Average Home Values

 

Median Home Value:
$420,750

Cape Elizabeth, ME HOME PRICES

Value Range
> $1,127,000 5.4
$845,001 - $1,127,000 5.7
$563,001 - $845,000 19.5
$450,001 - $563,000 13.5
$338,001 - $450,000 20.8
$225,001 - $338,000 26.1
$113,001 - $225,000 6.4
$56,001 - $113,000 1.1
$0 - $56,000 1.5

Very High for ME
Very High for Nation

Value Relative to Nation Value Relative to State
8.48470643384507 2.86885245901639

Number Of Homes And Apartments:
3,781

Cape Elizabeth Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
ME*
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
68.17% 3.06% 8 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$958 / per month

Homeownership Rate

Homeownership
Owners 88.97
Renters 11.03
Vacant 8.74

Housing Market Details

 

Age of Homes

AGE OF Cape Elizabeth HOMES
2000 or Newer 8.8
1970 - 1999 30.4
1940 - 1969 39.4
1939 or Older 21.4

Types of Homes

TYPE OF Cape Elizabeth HOMES
Single-Family 86.2
Townhomes 6.3
Small Apt. Buildings 3.8
Apt. Complexes 3.7
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Cape Elizabeth HOMES
No Bedroom 1.30
1 Bedroom 5.53
2 Bedrooms 16.17
3 Bedrooms 36.62
4 Bedrooms 30.20
5 or more bedrooms 10.19

Popular Neighborhoods in Cape Elizabeth

Zip Codes in Cape Elizabeth, ME