03902, Cape Neddick, ME

The 3902 zip code of Cape Neddick, Maine is located on the eastern coast of the state and includes a population of just over 2,000. The median household income in this zip code is $60,000, which is well below the statewide median income of $70,000. Home prices in this zip code are significantly lower than home prices statewide. The average home price in the 3902 zip code is just over $130,000 while the statewide average home price is over $200,000. This indicates that there are a significant number of homes for sale in this zip code that are priced below market value.

One potential explanation for why there are so many homes for sale in this zip code that are priced below market value may be due to the fact that there is a significant amount of foreclosures and short sales available in this area. Many homeowners who have been struggling to make their mortgage payments may be looking to sell their homes as quickly as possible in order to avoid foreclosure or another financial hardship. Another possibility is that some homeowners may be unaware of how much their home values have decreased since they last sold it or they may be unable to afford to pay what their home is currently worth. Regardless of the reason behind why so many homes are for sale in this zip code at or below market value, it would appear that there could be a lot of opportunity for buyers who are interested in purchasing a property at a discount.