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Cape Elizabeth Maine Market Report

Home Sales Statistics & Results -  2018 & 2017 Update

Cape Elizabeth continues to be one of the most desirable communities in the greater Portland area, and home prices reflect that, as they are among the highest in the region. After a down year in 2015, prices in 2016 and 2017 rose significantly. This year prices reached a median of $496,750, a 24.19% increase since 2015.

Demand to live in Cape Elizabeth can also be seen based on the continued decrease in the number of DOM (days on market). 2017 set a new record median of just 14 days before homes went under contract.

The charts below include up-to-date 2018 monthly sales and a review of the complete years 2017 and 2016 for all types of properties. 

 

2018 Sales: YTD Results Through October

 
Prop
Type

Median Prices YTD
2018      |       2017 
 Unit Sales YTD
2018  |  2017 

% of
List Price

DOM
         
 Homes $551,000$502,192 107
124
 100.18%
 22
 Condos $294,000$327,000 35
30
 98%  22
           
All housing data has been compiled from research by Maine Home Connection using information from the Maine Real Estate Information System (MREIS). 
 

 

2017 Cape Elizabeth Real Estate Sales & Prices

 
Prop
Type

# of
Units

Sold Price
Median     |     Average

Days on Mkt
Med  |  Avg
 % of
List
 $/Sq Foot
           
 Homes 159
 $496,750$814,909 19
47 99.0 $254
 Condos 30
 $327,000$350,302 2272
 100.0
 $202
 Multi --
 ---- ---- -- --
 Land 10
 $185,000$325,900 3674
 99.7 NA

The Cape" offers many opportunities to live along the water, with either a direct view of the oceanfront or within a short walk. Home prices reflect this amenity each year. In 2017 there were 14 sales in excess of $1,000,000.  There were 21 homes sold with a water view (at a median price of $1,095,000) and of these seven had owned oceanfront with a median price of $2,060,000.

These sales have a significant impact on the yearly mix and resulting median price.

 

2016 Cape Elizabeth Real Estate Sales & Prices

 
Prop
Type

# of
Units

Sold Price
Median     |     Average

Days on Mkt
Med  |  Avg
 % of
List
 $/Sq Foot
           
 Homes 147 $462,500$601,080 2454 97.6 $202
 Condos 27 $330,000$353,546 45130 100.0
 $213
 Multi 2 $519,000$519,00 11
42 87.9 $174
 Land 7 $485,000$684,214 2576 90.5 NA

Statewide Results:

Maine home sales set a new sales record in 2017 as 17,796 single family homes were sold, yet this was only an increase of .88% from 2016. Sales volume has increased since 2011. While last year it was sales in both Cumberland and York counties that established new records, up 2.5% and 11.2% respectively, this year Franklin had the largest percentage increase with 16.84% more home sales. 

However, it was Kennebec county that had the largest unit increase of home sales, growing from 1,457 in 2016 to 1,545 in 2017, an increase of 88 sales. Overall, sales were up in 10 of Maine’s 16 counties. 

The median single-family price of $200,000 represented a 5.32% increase over 2016 and was at its highest year-end level since 2007, when $194,000 was achieved. The highest single month was August at $206,745. Between 2007 and 2011 median prices declined each year, reaching their lowest level in 2011 at $165,000.  From 2012 onward, pricing has increased each year, with the exception of 2014.

 
Cape Elizabeth Sales History
YearUnitsPrice
2017
159
$496,750
2016147$462,500
2015171$400,000
2014150$425,000 
2013128$438,000 
2012136$354,863
2011115$382,500
2010121$385,000
2009102$287,167
2008194$358,000
2007132$375,000
2006123$375,000
2005129$400,000
   

Cape Elizabeth Home Sales

Cape Units-2017

Cape Prices-2017


2017 Report
Download Market Repot

2016 Market Report



 

 



 
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