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Cape ElizabethMaine Real Estate

Homes Sales Results

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.  Single family homes represent just over 80% of the real estate market, although a significant condo market is developing.

Single family home sales were 128 in 2013, compared to 136 in 2012, reflecting a decrease of 5.9%, which was atypical of most southern Maine communities.  Throughout the year inventory was tight and homes that did sell, did so quickly.  The median days on market (DOM) was only 24, one of the lowest in the local market and considerably below the Cumberland County result of 78 days.  Homes also sold close to the original listing price at 96.4%
Pricing, however, improved dramatically in 2013.  The median selling price was $438,000, up 23.4%.  This was the highest recorded price level ever in Cape Elizabeth and was one of the highest in Southern Maine.

Cape Elizabeth offers many opportunities to live along the water, with either a direct view of the ocean or within a short walk. Home prices reflect this amenity. In 2013 there were 17 sales in excess of $1,000,000 compared to ten in 2012. There were 26 homes sold with a water view (at a median price of $730,000) and of these six had owned oceanfront with a median price of $1,495,150. These sales have a significant impact on the yearly mix and resulting median price.

Condo sales were 29 in 2013, reflecting a modest increase of 4 units.  The median price of $215,000 declined 19.6%, providing evidence that condos and townhomes are not a large segment of the market in Cape Elizabeth. Land sales increase from 6 to 13 and the price improved a dramatic 54.8%.

 

2013 Cape Elizabeth Real Estate Sales & Prices

 
Prop
Type

# of
Units

Sold Price
Median     |     Average

Days on Mkt
Med  |  Avg
 % of
List
 %
Total
           
 Homes 128 $438,000$591,266 24
62
 96.4 74.8
 Condos 29
 $215,000$261,500 44
87
 91.4
 17.0
 Multi 1
 $215,500
$215,000
 0
0
 100
 0.6
 Land 13
 $106,000$116,153 71
160
 92.2
 7.6


Across the state of Maine single family home sales were up 13.6%% in 2013 versus 2012.  Pricing also was up 2.9%, reflecting a trend of stabilization and improvement. Cumberland County sales volume improved 15.6% while pricing was improved an impressive 7.9%.

Cape Elizabeth is a residential community within short proximity to Portland.  Located along the coast of Maine, there are many waterfront real estate options available. There are also many small neighborhoods that offer homes tucked away among trees and large lots. Schools are excellent and outdoor activities are abundant. Over the last several years, however, there are more housing opportunities in lower price categories than ever before.

2014 Compared to 2013 - YTD Sales Results

The Cape Elizabeth real estate market, like all markets across the country, is affected by many factors.  It is a relatively small market, yet one of the higher-priced markets in Southern Maine. As a result, often month-to-month results yield wide fluctuations.  Reviewing sales data on a YTD comparion attempts to moderate the affects of seasonality, cyclicality, unusual high-end sales and macroeconomics. 

 

2014 vs 2013 Sales - YTD Results Through December

 
Prop
Type

Median Prices YTD
2014       |       2013
 Unit Sales YTD
2014  |  2013

Current
Inventory

%
U/C
         
 Homes $425,000$438,000 150128 59 27.1
 Condos $225,675$215,000
 30
29 74
 9.4
           
All housing data has been compiled from research by Maine Home Connection using information from the Maine Real Estate Information System (MREIS).

 

Addtional Cape Elizabeth Sales Information 

 
Footer-Bird2011 Cape Elizabeth Sales Report (Comparison to 2010)
Maine Housing Stats
Footer-Bird2010 Cape Elizabeth Sales Report (Comparison to 2009)
Footer-Bird2012 Maine Sales Report (Selected Cities & Counties)
Footer-Bird2011 Maine Sales Report (Selected Cities & Counties)
Footer-BirdSales Report Archives (All Prior Year Reports)
  
 
 
 Cape Elizabeth Sales History
YearUnitsPrice
   
2013
128
$438,000
 2012136
$354,863
 2011115$382,500
 2010121$385,000
 2009102$287,167
 200894
$358,000
 2007132
$375,000
 2006123
$375,000
 2005129
$400,000
   

Single Famliy Homes

2013 Graphs-CapeElizabeth Sales

2013 Graphs-CapeElizabeth Prices

 

Interactive Map
Sales Results

Tableau Map

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