Ellsworth, ME
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Ellsworth, ME Real Estate Data


Ellsworth Housing Market Information

With 7,857 people, 3,441 houses or apartments, and a median cost of homes of $194,186, Ellsworth real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Ellsworth, accounting for 72.02% of the city's housing units. Other types of housing that are prevalent in Ellsworth include mobile homes or trailers ( 11.01%), duplexes, homes converted to apartments or other small apartment buildings ( 10.27%), and a few large apartment complexes or high rise apartments ( 6.19%).

People in Ellsworth primarily live in small (one, two or no bedroom) single-family detached homes. Ellsworth has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Ellsworth 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 Ellsworth built between 2000 and later ( 24.45%). A lesser amount of the housing stock also hails from before 1939 ( 18.13%). There's also some housing in Ellsworth built between 1940-1969 ( 17.68%).

Vacant housing appears to be an issue in Ellsworth. Fully 23.65% of the housing stock is classified as vacant. Left unchecked, vacant Ellsworth homes and apartments can be a drag on the real estate market, holding Ellsworth 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.

Ellsworth Home Appreciation Rates

Real estate appreciation rates in Ellsworth's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.47% during the period.

Over the last year, Ellsworth appreciation rates have trailed the rest of the nation. In the last twelve months, Ellsworth's appreciation rate has been 2.78%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Ellsworth were at -0.39%, which equates to an annual appreciation rate of -1.54%.

Notably, Ellsworth's appreciation rate in the latest quarter is one of the lowest in America.

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

Average Home Values

 

Median Home Value:
$194,186

Ellsworth, ME HOME PRICES

Value Range
> $1,042,000 0.8
$781,001 - $1,042,000 1.3
$521,001 - $781,000 1.5
$416,001 - $521,000 5.4
$313,001 - $416,000 6.2
$209,001 - $313,000 26.7
$104,001 - $209,000 44.0
$52,001 - $104,000 10.8
$0 - $52,000 3.4

High for ME
High for Nation

Value Relative to Nation Value Relative to State
34.596240557475 35.2459016393443

Number Of Homes And Apartments:
3,441

Rent & Ownership

 

Average Market Rent:
$929 / per month

Homeownership Rate

Homeownership
Owners 61.86
Renters 38.14
Vacant 23.65

Housing Market Details

 

Age of Homes

AGE OF Ellsworth HOMES
2000 or Newer 24.5
1970 - 1999 39.7
1940 - 1969 17.7
1939 or Older 18.1

Types of Homes

TYPE OF Ellsworth HOMES
Single-Family 72.0
Townhomes 0.5
Small Apt. Buildings 10.3
Apt. Complexes 6.2
Mobile Homes 11.0
Other 0.0

Home Size

SIZE OF Ellsworth HOMES
No Bedroom 3.79
1 Bedroom 17.97
2 Bedrooms 28.51
3 Bedrooms 35.92
4 Bedrooms 12.09
5 or more bedrooms 1.71

Ellsworth Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
ME*
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
59.49% 2.78% 6 7
* 10 is highest