Skowhegan, ME
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Skowhegan Neighborhoods Since 2000




Skowhegan, ME Real Estate Data


Skowhegan Housing Market Information

With 8,478 people, 3,873 houses or apartments, and a median cost of homes of $125,258, house prices in Skowhegan are solidly below the national average.

Single-family detached homes are the single most common housing type in Skowhegan, accounting for 60.32% of the town's housing units. Other types of housing that are prevalent in Skowhegan include duplexes, homes converted to apartments or other small apartment buildings ( 18.04%), mobile homes or trailers ( 14.65%), and a few large apartment complexes or high rise apartments ( 5.88%).

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

There is a lot of housing in Skowhegan 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 Skowhegan built before 1939 ( 39.29%). A lesser amount of the housing stock also hails from between 1940-1969 ( 16.42%). There's also some housing in Skowhegan built between 2000 and later ( 4.58%).

Vacant housing appears to be an issue in Skowhegan. Fully 11.78% of the housing stock is classified as vacant. Left unchecked, vacant Skowhegan homes and apartments can be a drag on the real estate market, holding Skowhegan 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.

Skowhegan Home Appreciation Rates

Real estate appreciation rates in Skowhegan's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.25% during the period.

Over the last year, Skowhegan appreciation rates have trailed the rest of the nation. In the last twelve months, Skowhegan's appreciation rate has been 2.02%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Skowhegan were at 0.53%, which equates to an annual appreciation rate of 2.13%.

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

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

Average Home Values

 

Median Home Value:
$125,258

Skowhegan, ME HOME PRICES

Value Range
> $1,059,000 0.0
$795,001 - $1,059,000 0.0
$530,001 - $795,000 1.6
$424,001 - $530,000 0.4
$318,001 - $424,000 3.6
$212,001 - $318,000 13.7
$106,001 - $212,000 40.3
$53,001 - $106,000 25.7
$0 - $53,000 14.7

Low for ME
Low for Nation

Value Relative to Nation Value Relative to State
63.5123265210517 75.0

Number Of Homes And Apartments:
3,873

Rent & Ownership

 

Average Market Rent:
$831 / per month

Homeownership Rate

Homeownership
Owners 61.59
Renters 38.41
Vacant 11.78

Housing Market Details

 

Age of Homes

AGE OF Skowhegan HOMES
2000 or Newer 4.6
1970 - 1999 39.7
1940 - 1969 16.4
1939 or Older 39.3

Types of Homes

TYPE OF Skowhegan HOMES
Single-Family 60.3
Townhomes 1.1
Small Apt. Buildings 18.0
Apt. Complexes 5.9
Mobile Homes 14.6
Other 0.0

Home Size

SIZE OF Skowhegan HOMES
No Bedroom 3.69
1 Bedroom 13.10
2 Bedrooms 39.64
3 Bedrooms 29.64
4 Bedrooms 11.37
5 or more bedrooms 2.57

Skowhegan 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
57.35% 2.70% 5 7
* 10 is highest