Is Cape Elizabeth, ME 04107 a buyer’s or seller’s market?

The Cape Elizabeth housing market right now

In the three months ending August 31, 2026, 39% of homes in Cape Elizabeth, ME 04107 sold above their list price, the typical home went under contract in 42 days and there were 2.7 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 45 home sales.

Compared with the same period a year earlier, the share selling over asking rose from 35%, homes sold about as fast and the median sale price fell 4% to $872,123. Overall, Cape Elizabeth is more competitive than a year ago, so tougher for buyers.

Within Cumberland County, homes here sell more slowly than in 70% of the county’s ZIP codes, and sell more often over asking than in 54%. On our competition score, Cape Elizabeth ranks #31 of 105 ME ZIP codes with enough sales (score 69 out of 100).

Nearby, buyers who want less competition could look at Portland 04109 (0% sold over asking) or Peaks Island 04108 (0% sold over asking), while Chebeague Island 04017 (67% sold over asking) and Gorham 04038 (63% sold over asking) are even more competitive.