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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Harpswell, ME Real Estate Market

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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Harpswell, ME Housing Market Trends

With 5,041 people, 2,541 houses or apartments, and a median cost of homes of $829,540, Harpswell house prices are not only among the most expensive in Maine, Harpswell 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 Harpswell, accounting for 89.14% of the town's housing units. Other types of housing that are prevalent in Harpswell include mobile homes or trailers ( 4.45%), duplexes, homes converted to apartments or other small apartment buildings ( 3.33%), and a few large apartment complexes or high rise apartments ( 1.62%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Harpswell. Owner-occupied housing accounts for 79.44% of Harpswell's homes, and 51.29% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Harpswell 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 Harpswell built before 1939 ( 21.01%). A lesser amount of the housing stock also hails from between 2000 and later ( 19.64%). There's also some housing in Harpswell built between 1940-1969 ( 18.16%).

A decent proportion of the Harpswell housing stock is seasonally occupied. That is, homes and condos in Harpswell are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Harpswell housing market speaks to its popularity as a vacation location of choice.

Harpswell Home Appreciation Rates

In the last 10 years, Harpswell has experienced some of the highest home appreciation rates of any community in the nation. Harpswell real estate appreciated 118.69% over the last ten years, which is an average annual home appreciation rate of 8.14%, putting Harpswell in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Harpswell 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 Harpswell that despite a nationwide downturn in the housing market, Harpswell real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Harpswell appreciation rates continue to be some of the highest in America, at 11.61%, which is higher than appreciation rates in 98.71% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Harpswell. Harpswell appreciation rates in the latest quarter were at 3.59%, which equates to an annual appreciation rate of 15.16%.

Importantly, this makes Harpswell 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 Harpswell's latest annual appreciation rate is higher than 70% of the other cities and towns in Maine.

Average Home Values

Median Home Value

$829,540

Harpswell, ME Home Prices
> $1,491,000
$1,119,001 - $1,491,000
$746,001 - $1,119,000
$596,001 - $746,000
$447,001 - $596,000
$298,001 - $447,000
$149,001 - $298,000
$75,001 - $149,000
$0 - $75,000
11.8%
11.8%
17.1%
17.1%
25.7%
25.7%
11.1%
11.1%
14.8%
14.8%
11.9%
11.9%
5.5%
5.5%
1.7%
1.7%
0.5%
0.5%
0% 100.0%
% of Homes
Very High

for Maine

Very High

for nation

Number of Homes And Apartments:

2,541

Harpswell Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,037 / per month

Homeownership Rate

Owners
Renters
79.4%
79.4%
20.6%
20.6%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
42.0%
42.0%
58.0%
58.0%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
19.6%
19.6%
41.2%
41.2%
18.2%
18.2%
21.0%
21.0%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
89.1%
89.1%
1.5%
1.5%
3.3%
3.3%
1.6%
1.6%
4.4%
4.4%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.2%
1.2%
13.0%
13.0%
29.0%
29.0%
41.2%
41.2%
10.1%
10.1%
5.6%
5.6%
0% 100.0%
% of Homes