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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 Q1 2023 versus Q1 2022:
The Number of SOLD listings decreased by 23% to 513 properties with a top sale of $12.2 million at 209 Bay St in Barnstable.
The Average Sales Price increased 4% to $930 thousand and the Average Price Per Square Foot increased by 1% to $468.
The inventory of properties available for sale as measured in months supply increased by 24% to 2.02 months worth of properties for sale.
The average 30-year fixed mortgage rate increased by 37% to an average rate of 6.48% according to Bank Rate.com
If you’re thinking about buying or selling residential real estate now or in the near future, it’s important to seek the guidance and advice of a professional real estate agent.
Thanks for tuning in, we’ll see you in the next Griffin Real Estate Market Update.
Cape Cod
Average Sales Price
Q1 2022 – $898008
Q1 2023 – $929565
4% up
Average Days On Market
Q1 2022 – 36
Q1 2023 – 53
47% up
Average Sale Price Per Square Foot
Q1 2022 – $463.1
Q1 2023 – $468.34
1% up
Sale to List Price Ratio
Q1 2022 – 98.87%
Q1 2023 – 96.12%
3% down
Number of Sold Listings
Q1 2022 – 666
Q1 2023 – 513
23% down
Months Supply of Inventory
Q1 2022 – 1.63
Q1 2023 – 2.02
24% up
Mortgage Rate
Q1 2022 – 4.73%
Q1 2023 – 6.48%
37% up
Top 10 Sales
- $12200000 209 Bay Street Barnstable, MA
- $9000000 79 Sand Point Barnstable, MA
- $7250000 199 Daniels Island Road Mashpee, MA
- $5850000 100 Garnet Avenue Falmouth, MA
- $5300000 180 Pinquickset Cove Circle Barnstable, MA
- $5250000 290 North Bay Road Barnstable, MA
- $4500000 375 Baxters Neck Road Barnstable, MA
- $4250000 284 Seapuit River Road Barnstable, MA
- $4091000 654 South Orleans Road Orleans, MA
- $4050000 174 Saconesset Road Falmouth, MA
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