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Welcome to The Griffin Real Estate Market Update.
If you’re thinking about buying or selling residential real estate, it’s important to understand the current market trends.
According to Cape Cod & Islands Association of Realtors, the marketplace for Cape Cod residential properties, here’s what happened in 01/01/2022-03/31/2022 versus 01/01/2021-03/31/2021:
The Number of SOLD listings decreased by 24% to 648 properties with a top sale of $8 million at 116 Old Wharf Road in Chatham.
The Average Sales Price increased by 4% to $902000 moving the Average Price Per Square Foot up to $463 per square foot.
The inventory of properties available for sale as measured in months supply decreased by 2% to 1.65 months worth of properties for sale.
The average 30 year fixed mortgage rate increased to 4.45% according to Bank Rate.com.
Thanks for tuning in, we’ll see you in the next Griffin Real Estate Market.
Cape Cod
Average Sales Price
01/01/2021-03/31/2021 – $863678
01/01/2022-03/31/2022 – $901851
4% up
Average Days On Market
01/01/2021-03/31/2021 – 85
01/01/2022-03/31/2022 – 35
59% down
Average Sale Price Per Square Foot
01/01/2021-03/31/2021 – $423.87
01/01/2022-03/31/2022 – $462.99
9% up
Sale to List Price Ratio
01/01/2021-03/31/2021 – 97.57%
01/01/2022-03/31/2022 – 98.85%
1% up
Number of Sold Listings
01/01/2021-03/31/2021 – 856
01/01/2022-03/31/2022 – 648
24% down
Months Supply of Inventory
01/01/2021-03/31/2021 – 1.67
01/01/2022-03/31/2022 – 1.65
2% down
Mortgage Rate
01/01/2021-03/31/2021 – 3.33%
01/01/2022-03/31/2022 – 4.45%
34% up
Top 10 Sales
- $8000000 116 Old Wharf Road Chatham, MA
- $7300000 268 Cedar Street Chatham, MA
- $7100000 56 Rendezvous Lane Barnstable, MA
- $6700000 49 Saquatucket Bluffs Road Harwich, MA
- $5900000 61 Shore Road Harwich, MA
- $5590000 6 Payomet Lane Truro, MA
- $4600000 125 Seaview Street Chatham, MA
- $4250000 178 Bonnie Doone Cartway Brewster, MA
- $4200000 8 Newton Avenue Barnstable, MA
- $3999000 28 River Lane Dennis, MA
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