The story of this market
The typical home in ZIP 04077 sells for about $500,000, or $440 per square foot.
Prices are down 17.9% from a year ago, which gives buyers more room to negotiate. Homes take about 18 days to sell, which is fast. HUD's fair market rent for a two-bedroom is $1,837 a month.
ZIP 04077 — South Casco
The Scarborough housing market is currently experiencing a correction in median sale prices, down 17.9% year-over-year, while maintaining a competitive sales pace. Limited inventory remains a primary driver of market dynamics, with strong demand supported by a robust local job market and population growth.
This area is well-suited for family buyers and professionals seeking a balance between coastal living and proximity to Portland's employment centers.
Median prices moved down 17.9% year over year.
Homes spend a median of 18 days on market with 2.7 months of supply — a fast-moving market.
0% of listings have cut prices · homes sell at 100.1% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) — a stable, low-distress profile.
ZCTA 04077, Cumberland County, ME
Scarborough is experiencing significant economic momentum with a high job-to-household ratio of 1.79 and a projected need for over 2,000 new housing units in the next five years to accommodate growth.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Maine) — Maine Resident Homestead Property Tax Exemption: Provides a reduction in the valuation of the homestead for property tax purposes. The exemption amount is set by state statute (currently $25,000 of the just value of the property). The formula is: (Just Value - Homestead Exemption) * Local Tax Rate = Tax Due.
The area is served by the Portland Area Comprehensive Transportation System, facilitating access to the regional employment core.
The town offers extensive access to coastal amenities, parks, and trails, serving as a recreational hub within the Portland metro area.
The rental market shows significant volatility with recent price adjustments, though demand remains steady due to the area's growth.
The local economy is anchored by a strong job market with a 1.79 jobs-to-household ratio, supported by regional integration with the Portland-South Portland metro area.
The area is integrated into the Portland Area Comprehensive Transportation System, providing regional highway and transit connectivity.
There is a significant development pipeline with a projected need for 2,086 new housing units over the next five years to support population growth.
Data sourced from CommunityScale and Zumper market reports.
The largest salt marsh in Maine, providing significant recreational and ecological value.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.