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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 Q2 2023 versus Q2 2022:
The Number of SOLD listings decreased 19% to 723 properties with a top sale of $10.9 million at 19 Marquand Drive in Barnstable.
The Average Sales Price decreased 3% to $970 thousand and the Average Price Per Square Foot decreased 2% to $490.
The inventory of properties available for sale as measured in months supply increased by 3% to 1.86 months worth of properties for sale.
The average 30-year fixed mortgage rate increased 17% with an average rate of 6.84% 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
Q2 2022 – $1004804
Q2 2023 – $970495
3% down
Average Days On Market
Q2 2022 – 29
Q2 2023 – 36
24% up
Average Sale Price Per Square Foot
Q2 2022 – $498.3
Q2 2023 – $490.24
2% down
Median Sales Price
Q2 2022 – $725000
Q2 2023 – $730000
1% up
Number of Sold Listings
Q2 2022 – 888
Q2 2023 – 723
19% down
Months Supply of Inventory
Q2 2022 – 1.81
Q2 2023 – 1.86
3% up
Mortgage Rate
Q2 2022 – 5.85%
Q2 2023 – 6.84%
17% up
Top 10 Sales
- $10900000 19 Marquand Drive Barnstable, MA
- $9200000 63 Shell Drive Chatham, MA
- $6495000 44 Nickerson Lane Chatham, MA
- $6000000 408 Wianno Avenue Barnstable, MA
- $6000000 202 Daniels Island Road Mashpee, MA
- $5995000 72 Sea Mist Lane Chatham, MA
- $5075000 27 Elliot Road Mashpee, MA
- $5000000 84 Doane Road Chatham, MA
- $4300000 68 Waterman Farm Road Barnstable, MA
- $3600000 68 Waterside Drive Falmouth, MA
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