Kittery, ME
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Kittery, 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

Kittery Housing Market Information

With a population of 9,653, 4,486 total housing units (homes and apartments), and a median house value of $345,654, Kittery house prices are not only among the most expensive in Maine, Kittery 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 Kittery, accounting for 66.26% of the town's housing units. Other types of housing that are prevalent in Kittery include duplexes, homes converted to apartments or other small apartment buildings ( 16.45%), large apartment complexes or high rise apartments ( 9.33%), and a few mobile homes or trailers ( 4.99%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Kittery. Owner-occupied housing accounts for 65.77% of Kittery's homes, and 48.72% 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. Kittery's housing was primarily built during this period, from the '40s through the '60s. A full 34.46% of the town's housing hails from this era. Other housing ages represented in Kittery include homes built before 1939 ( 23.99%) and housing constructed between 1970-1999 ( 23.88%). There's also some housing in Kittery built between 2000 and later ( 17.67%).

Vacant housing appears to be an issue in Kittery. Fully 14.58% of the housing stock is classified as vacant. Left unchecked, vacant Kittery homes and apartments can be a drag on the real estate market, holding Kittery 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.

Kittery Home Appreciation Rates

Appreciation rates for homes in Kittery have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 0.74%, which ranks in the top 50% nationwide. This equates to an annual average Kittery house appreciation rate of 0.07%.

Appreciation rates are so strong in Kittery that despite a nationwide downturn in the housing market, Kittery real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Kittery appreciation rates continue to be some of the highest in America, at 7.67%, which is higher than appreciation rates in 85.13% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Kittery. Kittery appreciation rates in the latest quarter were at 0.64%, which equates to an annual appreciation rate of 2.56%.

Relative to Maine, our data show that Kittery's latest annual appreciation rate is higher than 90% of the other cities and towns in Maine.

Average Home Values

 

Median Home Value:
$345,654

Kittery, ME HOME PRICES

Value Range
> $1,140,000 2.5
$855,001 - $1,140,000 1.8
$570,001 - $855,000 8.5
$456,001 - $570,000 8.4
$342,001 - $456,000 24.5
$228,001 - $342,000 34.4
$114,001 - $228,000 11.0
$57,001 - $114,000 1.7
$0 - $57,000 7.2

Very High for ME
Very High for Nation

Value Relative to Nation Value Relative to State
12.5161139106996 6.14754098360656

Number Of Homes And Apartments:
4,486

Kittery 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
57.41% 2.66% 5 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,427 / per month

Homeownership Rate

Homeownership
Owners 65.77
Renters 34.23
Vacant 14.58

Housing Market Details

 

Age of Homes

AGE OF Kittery HOMES
2000 or Newer 17.7
1970 - 1999 23.9
1940 - 1969 34.5
1939 or Older 24.0

Types of Homes

TYPE OF Kittery HOMES
Single-Family 66.3
Townhomes 3.0
Small Apt. Buildings 16.5
Apt. Complexes 9.3
Mobile Homes 5.0
Other 0.0

Home Size

SIZE OF Kittery HOMES
No Bedroom 2.06
1 Bedroom 9.82
2 Bedrooms 36.06
3 Bedrooms 36.50
4 Bedrooms 12.22
5 or more bedrooms 3.33

Popular Neighborhoods in Kittery

Zip Codes in Kittery, ME