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Welcome to The Griffin Real Estate Market Update, I’m Danny Griffin.
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 2022 versus 2021:
The Number of SOLD listings decreased by 23% to 3249 properties with a top sale of $18.5 million at 159 Main Street in Barnstable.
The Average Sales Price increased 10% to $961 thousand and the Average Price Per Square Foot increased 8% to $480.
The inventory of properties available for sale as measured in months supply increased by 6% to 1.27 months worth of properties for sale.
The average 30-year fixed mortgage rate increased by 106% to an average rate of 6.74% according to Bank Rate.com
Decrease in sales – strong average lead by luxury.
Thanks for tuning in, we’ll see you in the next Griffin Real Estate Market Update.
Cape Cod
Average Sales Price
2021 – $876917
2022 – $960730
10% up
Average Days On Market
2021 – 43
2022 – 31
28% down
Average Sale Price Per Square Foot
2021 – $444.66
2022 – $480.47
8% up
Sale to List Price Ratio
2021 – 99.87%
2022 – 99.56%
0% no change
Number of Sold Listings
2021 – 4193
2022 – 3249
23% down
Months Supply of Inventory
2021 – 1.19
2022 – 1.27
6% up
Mortgage Rate
2021 – 3.27%
2022 – 6.74%
106% up
Top 10 Sales
- $18500000 159 Main Street Barnstable, MA
- $14000000 186 Windswept Way Barnstable, MA
- $13750000 198 & 227 Bridge Street Barnstable, MA
- $12250000 34 & 52 Caillouet Lane Barnstable, MA
- $10500000 251 Green Dunes Drive Barnstable, MA
- $9400000 8 Jessie’s Lane Yarmouth, MA
- $9300000 39 Point Road Falmouth, MA
- $8650000 249 Seapuit Road Barnstable, MA
- $8225000 444 Old Harbor Road Chatham, MA
- $8000000 116 Old Wharf Road Chatham, MA
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