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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 Q1 2023 vs Q1 2024
The Number of SOLD listings decreased 8% to 494 properties with a top sale of $11.5 million at 61 Fox Island Road in Barnstable.
The Average Sales Price remained the same at $931 thousand and the Average Price Per Square Foot increased 35% to $1,812.
The inventory of properties available for sale as measured in months supply increased by 17% to 2.31 months worth of properties for sale.
The average 30-year fixed mortgage rate increased by 8% to an average rate of 7.01% according to Bank Rate.com.
Thanks for tuning in, we’ll see you in the next Griffin Real Estate Market Update.
Cape Cod
Average Sales Price
Q1 2023 – $926925
Q1 2024 – $930846
0% no change
Average Days On Market
Q1 2023 – 47
Q1 2024 – 49
4% up
Average Sale Price Per Square Foot
Q1 2023 – $1337.38
Q1 2024 – $1811.71
35% up
Median Sales Price
Q1 2023 – $675000
Q1 2024 – $699000
4% up
Number of Sold Listings
Q1 2023 – 536
Q1 2024 – 494
8% down
Months Supply of Inventory
Q1 2023 – 1.98
Q1 2024 – 2.31
17% up
Mortgage Rate
Q1 2023 – 6.48%
Q1 2024 – 7.01%
8% up
Top 10 Sales
- $11500000 61 Fox Island Road Barnstable, MA
- $10250000 160 Peppercorn Lane Barnstable, MA
- $7300000 78 Triton Way Mashpee, MA
- $4300000 127 Calves Pasture Lane Barnstable, MA
- $4010000 5 Bearberry Lane Truro, MA
- $4000000 103 Long Beach Road Barnstable, MA
- $3900000 103 Summerhill Lane Chatham, MA
- $3750000 48 Strong Island Road Chatham, MA
- $3500000 464 & 468 Davisville Road Falmouth, MA
- $3060000 117 Phillips Road Bourne, MA
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