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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 vs 2023:
The Number of SOLD listings decreased 19% to 2637 properties with a top sale of $15.1 million at 959 Sea View Avenue in Barnstable.
The Average Sales Price increased 4% to $1 million and the Average Price Per Square Foot increased 5% to $503.
The inventory of properties available for sale as measured in months supply increased by 7% to 1.35 months worth of properties for sale.
The average 30-year fixed mortgage rate increased 2% with an average rate of 6.90% 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
2022 – $959795
2023 – $1000526
4% up
Average Days On Market
2022 – 27
2023 – 35
30% up
Average Sale Price Per Square Foot
2022 – $480
2023 – $503.33
5% up
Median Sales Price
2022 – $687000
2023 – $730000
6% up
Number of Sold Listings
2022 – 3260
2023 – 2637
19% down
Months Supply of Inventory
2022 – 1.26
2023 – 1.35
7% up
Mortgage Rate
2022 – 6.74%
2023 – 6.90%
2% up
Top 10 Sales
- $15100000 959 Sea View Avenue Barnstable, MA
- $13500000 314 Quissett Avenue Falmouth, MA
- $12200000 209 Bay Street Barnstable, MA
- $11500000 43 Morris Island Road Chatham, MA
- $11200000 111 Penzance Road Falmouth, MA
- $10900000 19 Marquand Drive Barnstable, MA
- $9200000 63 Shell Drive Chatham, MA
- $9000000 79 Sand Point Barnstable, MA
- $8995000 52 Oyster Bluff Chatham, MA
- $7250000 199 Daniels Island Road Mashpee, MA
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