Skowhegan, ME
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Skowhegan Neighborhoods Since 2000




Skowhegan, 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

Skowhegan Housing Market Information

With 8,478 people, 3,820 houses or apartments, and a median cost of homes of $124,528, 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 60.63% 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 ( 16.69%), mobile homes or trailers ( 15.57%), and a few large apartment complexes or high rise apartments ( 6.67%).

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 ( 36.13%). A lesser amount of the housing stock also hails from between 1940-1969 ( 18.17%). There's also some housing in Skowhegan built between 2000 and later ( 5.84%).

Vacant housing appears to be an issue in Skowhegan. Fully 12.81% 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

Skowhegan's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Skowhegan during the period has been just -1.25%, which is lower than 70% of US communities.

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 2.80%, 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 1.58%, which equates to an annual appreciation rate of 6.47%.

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:
$124,528

Skowhegan, ME HOME PRICES

Value Range
> $1,057,000 0.0
$793,001 - $1,057,000 0.0
$529,001 - $793,000 1.6
$422,001 - $529,000 0.7
$317,001 - $422,000 4.4
$211,001 - $317,000 10.0
$106,001 - $211,000 39.3
$53,001 - $106,000 29.5
$0 - $53,000 14.6

Low for ME
Low for Nation

Value Relative to Nation Value Relative to State
62.7944450955115 75.8196721311475

Number Of Homes And Apartments:
3,820

Skowhegan 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
55.03% 2.57% 5 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$712 / per month

Homeownership Rate

Homeownership
Owners 61.20
Renters 38.80
Vacant 12.81

Housing Market Details

 

Age of Homes

AGE OF Skowhegan HOMES
2000 or Newer 5.8
1970 - 1999 39.9
1940 - 1969 18.2
1939 or Older 36.1

Types of Homes

TYPE OF Skowhegan HOMES
Single-Family 60.6
Townhomes 0.5
Small Apt. Buildings 16.7
Apt. Complexes 6.7
Mobile Homes 15.6
Other 0.0

Home Size

SIZE OF Skowhegan HOMES
No Bedroom 4.63
1 Bedroom 14.93
2 Bedrooms 36.41
3 Bedrooms 30.75
4 Bedrooms 11.53
5 or more bedrooms 1.76