Harpswell, ME
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Harpswell, 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

Harpswell Housing Market Information

With 4,872 people, 2,038 houses or apartments, and a median cost of homes of $501,856, 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 89.39% of the town's housing units. Other types of housing that are prevalent in Harpswell include mobile homes or trailers ( 3.88%), duplexes, homes converted to apartments or other small apartment buildings ( 3.60%), and a few row houses and other attached homes ( 2.37%).

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 79.42% of Harpswell's homes, and 50.35% 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 between 1940-1969 ( 24.47%). A lesser amount of the housing stock also hails from before 1939 ( 20.67%). There's also some housing in Harpswell built between 2000 and later ( 12.12%).

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

Appreciation rates for homes in Harpswell have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 1.66%, which ranks in the top 50% nationwide. This equates to an annual average Harpswell house appreciation rate of 0.16%.

Over the last year, Harpswell appreciation rates have trailed the rest of the nation. In the last twelve months, Harpswell's appreciation rate has been 2.71%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Harpswell were at 0.64%, which equates to an annual appreciation rate of 2.56%.

Relative to Maine, our data show that Harpswell's latest annual appreciation rate is lower than 80% of the other cities and towns in Maine.

Average Home Values

 

Median Home Value:
$501,856

Harpswell, ME HOME PRICES

Value Range
> $1,114,000 10.8
$836,001 - $1,114,000 8.8
$557,001 - $836,000 16.9
$446,001 - $557,000 11.7
$334,001 - $446,000 16.2
$223,001 - $334,000 20.5
$111,001 - $223,000 11.1
$56,001 - $111,000 2.6
$0 - $56,000 1.4

Very High for ME
Very High for Nation

Value Relative to Nation Value Relative to State
5.88890191023087 0.819672131147541

Number Of Homes And Apartments:
2,038

Harpswell 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
66.54% 3.00% 7 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,223 / per month

Homeownership Rate

Homeownership
Owners 79.42
Renters 20.58
Vacant 46.89

Housing Market Details

 

Age of Homes

AGE OF Harpswell HOMES
2000 or Newer 12.1
1970 - 1999 42.7
1940 - 1969 24.5
1939 or Older 20.7

Types of Homes

TYPE OF Harpswell HOMES
Single-Family 89.4
Townhomes 2.4
Small Apt. Buildings 3.6
Apt. Complexes 0.8
Mobile Homes 3.9
Other 0.0

Home Size

SIZE OF Harpswell HOMES
No Bedroom 0.57
1 Bedroom 11.75
2 Bedrooms 32.60
3 Bedrooms 36.93
4 Bedrooms 13.42
5 or more bedrooms 4.72