Cape Elizabeth Maine Real Estate | Home and Condo Sales
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Cape Elizabeth Maine Market Report

Home Sales Statistics & Results -  2019 & 2018 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. However, for the first time in three years, prices decreased. This year prices dropped 2.3% to a median of $535,000.

Yet demand to live in Cape Elizabeth is strong and can be seen based on the continued low number of DOM (days on market). 2018 set a new record median of just 12 days before homes went under contract, and 2019 continued that pattern.

The charts below include up-to-date 2019 monthly sales and a review of the complete years 2018 and 2017 for all types of properties. 

 

2019 Sales: YTD Results Through December

 
Prop
Type

Median Prices YTD
2019      |       2018
 Unit Sales YTD
2019  |  2018

% of
List Price

DOM
         
 Homes $535,000$547,750 149
134
 99.26%
 12
 Condos $325,000$331,000 3941
 100% 14
           
All housing data has been compiled from research by Maine Home Connection using information from the Maine Real Estate Information System (MREIS). 
 

 

2019 Cape Elizabeth Real Estate Sales & Prices

 
Prop
Type

# of
Units

Sold Price
Median     |     Average

Days on Mkt
Med  |  Avg
 % of
List
 $/Sq Foot
           
 Homes 149 $535,000$660,264 1229
 100 $222
 Condos 39
 $325,000$388,524 14
63
 100 $217
 Multi 1 $659.000
$659,000 99 104.6
 $157
 Land 13
 $395,0000$631,300 1549
 94.9 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 2018 there were 17 sales in excess of $1,000,000.  

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

 

2018 Cape Elizabeth Real Estate Sales & Prices

 
Prop
Type

# of
Units

Sold Price
Median     |     Average

Days on Mkt
Med  |  Avg
 % of
List
 $/Sq Foot
           
 Homes 134 $547,750$710,845 13
38
 98.8 $254
 Condos 40
 $331,000$357,323 19
83
 100.3
 $202
 Multi 2
 $720,000
$720,000
 --
--
 93.2 --
 Land 5
 $235,000$373,000 55
112 85.4 NA

Statewide Results:

For the fourth consecutive year, Maine home sales set a new record in 2018 as 17,983 single family homes were sold, representing an increase of 1.0% over 2017 when total volume was 17,810

The YTD (Year-to-Date) median single-family price of $215,000 represented a 7.5% increase over 2017.  Overall, pricing was up in 13 of Maine’s 16 counties, and remained consistent in two. The highest single month was May at $244,839, followed by April and then March.

Each month of 2018 was higher than 2017. Between 2007 and 2011 median prices declined each year, reaching their lowest level in 2011 at $165,000.  From 2012 onward, pricing has increased ever year, with one exception - 2014.

 
Cape Elizabeth Sales History
YearUnitsPrice
2019
149
$535,000
2018
134$547,750
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
   

Active vs Pending Listings
Residential

Cape Elizabeth Listings

Months of Inventory
Residential


Cape Elizabeth Inventory


2019 Report
Download Market Repot

Download 2019 Market Report


 

 



 
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