Westbrook, ME
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Westbrook Neighborhoods Since 2000




Westbrook, 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

Westbrook Housing Market Information

With a population of 17,978, 7,851 total housing units (homes and apartments), and a median house value of $205,296, Westbrook real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Westbrook, accounting for 50.26% of the city's housing units. Other types of housing that are prevalent in Westbrook include duplexes, homes converted to apartments or other small apartment buildings ( 20.97%), large apartment complexes or high rise apartments ( 18.05%), and a few row houses and other attached homes ( 6.57%).

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

There is a lot of housing in Westbrook 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 Westbrook built between 1940-1969 ( 28.53%). A lesser amount of the housing stock also hails from before 1939 ( 26.48%). There's also some housing in Westbrook built between 2000 and later ( 11.35%).

Westbrook Home Appreciation Rates

Real estate appreciation rates in Westbrook's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.67% during the period.

Appreciation rates are so strong in Westbrook that despite a nationwide downturn in the housing market, Westbrook real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Westbrook appreciation rates continue to be some of the highest in America, at 6.20%, which is higher than appreciation rates in 75.78% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Westbrook. Westbrook 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 Westbrook's latest annual appreciation rate is higher than 80% of the other cities and towns in Maine.

Average Home Values

 

Median Home Value:
$205,296

Westbrook, ME HOME PRICES

Value Range
> $1,113,000 0.6
$835,001 - $1,113,000 0.4
$556,001 - $835,000 0.0
$445,001 - $556,000 0.8
$334,001 - $445,000 9.5
$223,001 - $334,000 35.6
$111,001 - $223,000 45.3
$56,001 - $111,000 3.0
$0 - $56,000 4.8

High for ME
High for Nation

Value Relative to Nation Value Relative to State
30.9797257705379 29.0983606557377

Number Of Homes And Apartments:
7,851

Westbrook 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
52.28% 2.47% 4 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,111 / per month

Homeownership Rate

Homeownership
Owners 60.54
Renters 39.46
Vacant 6.10

Housing Market Details

 

Age of Homes

AGE OF Westbrook HOMES
2000 or Newer 11.4
1970 - 1999 33.6
1940 - 1969 28.5
1939 or Older 26.5

Types of Homes

TYPE OF Westbrook HOMES
Single-Family 50.3
Townhomes 6.6
Small Apt. Buildings 21.0
Apt. Complexes 18.0
Mobile Homes 4.1
Other 0.1

Home Size

SIZE OF Westbrook HOMES
No Bedroom 2.07
1 Bedroom 15.08
2 Bedrooms 32.70
3 Bedrooms 40.74
4 Bedrooms 7.86
5 or more bedrooms 1.55