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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 Q3 2023 versus Q3 2022:
The Number of SOLD listings decreased 28% to 667 properties with a top sale of $15.1 million at 959 Sea View Avenue in Barnstable.
The Average Sales Price increased 9% to $1.05 million and the Average Price Per Square Foot increased 11% to $530.
The inventory of properties available for sale as measured in months supply increased by 21% to 2.12 months worth of properties for sale.
The average 30-year fixed mortgage rate increased 12% with an average rate of 7.55% 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
Q3 2022 – $963018
Q3 2023 – $1052928
9% up
Average Days On Market
Q3 2022 – 23
Q3 2023 – 31
35% up
Average Sale Price Per Square Foot
Q3 2022 – $478.45
Q3 2023 – $529.59
11% up
Median Sales Price
Q3 2022 – $684750
Q3 2023 – $740000
8% up
Number of Sold Listings
Q3 2022 – 932
Q3 2023 – 667
28% down
Months Supply of Inventory
Q3 2022 – 1.76
Q3 2023 – 2.12
21% up
Mortgage Rate
Q3 2022 – 6.73%
Q3 2023 – 7.55%
12% up
Top 10 Sales
- $15100000 959 Sea View Avenue Barnstable, MA
- $13500000 314 Quissett Avenue Falmouth, MA
- $11500000 43 Morris Island Road Chatham, MA
- $6650000 87 Beach Road Orleans, MA
- $5825000 69 Snow Inn Road Harwich, MA
- $5350000 52 R Point Street Provincetown, MA
- $4995000 41 Beccles Road Falmouth, MA
- $4900000 34 Saquatucket Bluffs Road Harwich, MA
- $4695000 35 Peyton Place Falmouth, MA
- $4560000 978 Main Street Barnstable, MA
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