Bourne, MA Real Estate Market
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 Q2 2024. Updated quarterly.
- Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
Bourne, MA Housing Market Trends
With 20,667 people, 8,715 houses or apartments, and a median cost of homes of $674,552, real estate costs in Bourne are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Massachusetts communities.
Single-family detached homes are the single most common housing type in Bourne, accounting for 79.80% of the town's housing units. Other types of housing that are prevalent in Bourne include large apartment complexes or high rise apartments ( 7.75%), row houses and other attached homes ( 7.48%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.56%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Bourne. Owner-occupied housing accounts for 74.83% of Bourne's homes, and 60.53% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Bourne 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 Bourne built between 1940-1969 ( 23.07%). A lesser amount of the housing stock also hails from before 1939 ( 16.55%). There's also some housing in Bourne built between 2000 and later ( 14.67%).
Vacant housing appears to be an issue in Bourne. Fully 23.81% of the housing stock is classified as vacant. Left unchecked, vacant Bourne homes and apartments can be a drag on the real estate market, holding Bourne 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.
Bourne Home Appreciation Rates
Appreciation rates for homes in Bourne have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 107.00%, which ranks in the top 30% nationwide. This equates to an annual average Bourne house appreciation rate of 7.55%.
NeighborhoodScout's data show that during the latest twelve months, Bourne's appreciation rate, at 7.53%, has been at or slightly above the national average. In the latest quarter, Bourne's appreciation rate has been 1.98%, which annualizes to a rate of 8.15%.
Relative to Massachusetts, our data show that Bourne's latest annual appreciation rate is lower than 60% of the other cities and towns in Massachusetts.
One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Bourne differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Bourne - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Bourne real estate investment or home purchase decisions.
Median Home Value
$674,552
Average
for Massachusetts
Very High
for nation
Number of Homes And Apartments:
8,715
MA
America
2024 Q1 - 2024 Q2
2023 Q2 - 2024 Q2
2022 Q2 - 2024 Q2
2019 Q2 - 2024 Q2
2014 Q2 - 2024 Q2
2000 Q1 - 2024 Q2
Average Market Rent:
$3,104 / per month