Market Watch Kennebunkport – Playground of The Elite



Although Kennebunkport, Maine is a small town of about 1,400 people, its size belies the number of notable persons among its citizenry. For example, few people are unaware that it’s the summer home of ex President George H.W. Bush, but it’s unlikely that many realize it’s also the home of Wiley Miller, creator of the popular cartoon “Non Sequitur”.

Welcome to Kennebunkport. Image courtesy RClancy1 via Flickr.com

Kennebunkport has not been immune to the economic troubles in the country. It has an unemployment rate of 9.30% (the U.S. average is 9.10%), however recent job growth looks promising at a 1.79% increase.

The cost of living is higher than the U.S. average – (50.50%) higher, however a large share of residents – more than half of them make $50,000 and up annually, whereas only 42.77% of the residents of the entire county of York make that much per year.

Homes in Kennebunkport were listed, on average, at $791,209 for Christmas week, reflecting a decline of 3.5% compared to the prior week, and 7.1% less than the week ending November 30, 2011.

Kennebunkport homes have declined in value over the last year by 2.05%, opening up the market for more individuals to buy. The median home price is at $455,600. The highly rated schools spend more per capital per student ($7,600 per student) than the U.S. average which is $5,678, and there are only an amazing 12.4 students per teacher.

The summer holiday home of ex-president George W. Bush. Image courtesy Tony the Misfit via Flickr.com

There’s always something enjoyable to do in this fair city. Stroll along the Dock Square area and peruse the souvenir shops and art galleries, then take in a lovely dinner at one of their fine seafood restaurants. Visitors who wish to stay the night have a large host of bed and breakfasts to choose from where they can enjoy a peaceful stay, basking in the care of attentive hosts.

The lovely fishing harbor known as Cape Porpoise has a small village area which boasts a coffee shop, small library, art gallery, church, grocery store and several restaurants.

Population growth in Kennebunkport has been small – over the past ten years it’s only grown 1.82%, so investors who seek to find a good deal in the area need to take this factor into account. As a retirement location, there’s few places better, as the scenery always inspires, (hence the reason so many creative types (cartoonists, writers, painters, etc) choose this area for their home), and the friendly, “down home” character of the people in this “tight-knit” community makes life in Kennebunkport an enjoyable one.