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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 Q3 2022 versus Q3 2021:
The Number of SOLD listings decreased by 24% to 885 properties with a top sale of $18.5 million at 159 Main Street in Barnstable.
The Average Sales Price increased by 16% to $968000 moving the Average Price Per Square Foot up to $481 per square foot.
The inventory of properties available for sale as measured in months supply increased by 12% to 1.84 months worth of properties for sale.
The average 30 year fixed mortgage rate increased to 6.73% according to Bank Rate.com.
Thanks for tuning in, we’ll see you in the next Griffin Real Estate Market Update.
Cape Cod
Average Sales Price
Q3 2021 – $835859
Q3 2022 – $968174
16% up
Average Days On Market
Q3 2021 – 28
Q3 2022 – 23
18% down
Average Sale Price Per Square Foot
Q3 2021 – $447.37
Q3 2022 – $481.14
8% up
Sale to List Price Ratio
Q3 2021 – 100.95%
Q3 2022 – 99.90%
1% down
Number of Sold Listings
Q3 2021 – 1165
Q3 2022 – 885
24% down
Months Supply of Inventory
Q3 2021 – 1.63
Q3 2022 – 1.84
12% up
Mortgage Rate
Q3 2021 – 3.17%
Q3 2022 – 6.73%
112% up
Top 10 Sales
- $18500000 159 Main Street Barnstable, MA
- $14000000 186 Windswept Way Barnstable, MA
- $12250000 34 & 52 Caillouet Lane Barnstable, MA
- $9400000 8 Jessie’s Lane Yarmouth, MA
- $8225000 444 Old Harbor Road Chatham, MA
- $6500000 52 Tisquantum Road Chatham, MA
- $5300000 240 & 242 Glenneagle Drive Mashpee, MA
- $4788800 385 Harmes Way Eastham, MA
- $4750000 177 Cross Street Chatham, MA
- $4310000 126 Shore Drive Mashpee, MA
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