04064
$475,000median sale price
The 04064 zip code, located in Mechanic Falls, ME, is currently classified as a balanced market. The median sale price stands at $475,000, representing a +8.0% change year over year. Homes in this area spend an average of 39 days on the market before going under contract. There are currently 51 active listings in the area, which influences how much negotiating power buyers and sellers have.
Understanding zip-code-level data is essential for making informed real estate decisions. City-wide averages can mask significant variation between neighborhoods, and the 04064 market may perform differently from surrounding areas depending on local school quality, proximity to employment centers, and housing stock characteristics. The metrics below are sourced from Redfin transaction data, Zillow home value estimates, and U.S. Census Bureau demographic statistics.
Homes sold
33
Last 12 weeks
Days on market
39
Average pace
Active listings
51
Sale-to-list
97.3%
Below asking
Market trends
Market analysis for 04064
The 04064 real estate market is shaped by a combination of local demand, housing supply, and broader economic trends. As a balanced market, homes are selling at approximately 97.3% of their listed price.
Year-over-year price trends are one of the most important indicators for both homebuyers and investors. Prices in 04064 have increased +8.0% compared to last year, suggesting continued demand and potential for further appreciation. For context, it's valuable to compare this trend against neighboring zip codes and the broader metro area to determine whether this performance is localized or part of a regional pattern.
The Zillow Home Value Index (ZHVI) for 04064 stands at $492,919, which represents Zillow's estimate of the typical home value in the area. The Zillow Observed Rent Index (ZORI) indicates typical rents of $2,065 per month. This gives a price-to-rent ratio of approximately 19.9, which sits in a moderate range where the buy-versus-rent decision depends heavily on individual financial circumstances and time horizon. Use our mortgage calculator to estimate monthly payments based on current home values and interest rates.
Community profile
Population
8,423
Median income
$63,160/yr
Median age
55.8 years
Owner-occupied
7140.0%
College grads
3740.0%
Avg commute
21.4 min
Living in 04064
Zip code 04064 is home to approximately 8,423 residents. The median household income is $63,160 per year, which shapes the types of homes and amenities available in the area. With a median age of 55.8 years, the community's age profile influences everything from school enrollment to local business types and recreational offerings. Approximately 7140.0% of housing units are owner-occupied, indicating a stable, ownership-oriented community where residents have a vested interest in maintaining property values and neighborhood quality.
About 3740.0% of residents hold a bachelor's degree or higher, which often correlates with access to knowledge-economy jobs and higher earning potential in the area. The average commute time is 21.4 minutes, which is close to the national average. These demographic factors, combined with the market data above, help paint a complete picture of what it's like to live and own property in 04064.
Frequently asked questions about 04064
What is the median home price in 04064?
The current median sale price in 04064 is $475,000, based on recent Redfin transaction data. Prices have changed +8.0% compared to last year. For the most up-to-date pricing and to see how this compares to nearby areas, use our comparison tool.
Is 04064 a buyer's or seller's market?
The 04064 zip code is currently classified as a balanced market. This assessment is based on key indicators including months of supply, sale-to-list price ratios, and average days on market.
What is the population and demographics of 04064?
Zip code 04064 has a population of approximately 8,423 residents. The median household income is $63,160 per year. About 7140.0% of homes are owner-occupied. This data is sourced from the U.S. Census Bureau and is updated annually.
How do I research neighborhoods in 04064?
Properties Incorporated provides comprehensive data for 04064 including median home prices, price history charts, days on market, active inventory, and Census Bureau demographics. To compare this area with other zip codes or cities, use our comparison tool. For mortgage planning, our mortgage calculator estimates monthly payments based on current prices and interest rates.
How often is the data for 04064 updated?
Market data on Properties Incorporated is updated regularly as new information becomes available. Redfin sales data is typically refreshed monthly, Zillow home value and rent estimates update monthly, and Census Bureau demographics are updated annually.
Get zip code 04064 market alerts
Weekly updates on prices, inventory, and trends. Free forever.