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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 August 2023 versus July 2023:
The Number of SOLD listings increased 9% to 229 properties with a top sale of $13.5 million at 314 Quissett Avenue in Falmouth.
The Average Sales Price decreased 2% to $1.03 million and the Average Price Per Square Foot increased 4% to $527.
The inventory of properties available for sale as measured in months supply decreased by 3% to 3.50 months worth of properties for sale.
The average 30-year fixed mortgage rate increased 5% with an average rate of 7.32% 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
July 2023 – $1051227
August 2023 – $1034096
2% down
Average Days On Market
July 2023 – 38
August 2023 – 26
32% down
Average Sale Price Per Square Foot
July 2023 – $509.22
August 2023 – $527.2
4% up
Median Sales Price
July 2023 – $749000
August 2023 – $690000
8% down
Number of Sold Listings
July 2023 – 210
August 2023 – 229
9% up
Months Supply of Inventory
July 2023 – 3.6
August 2023 – 3.5
3% down
Mortgage Rate
July 2023 – 6.96%
August 2023 – 7.32%
5% up
Top 10 Sales
- $13500000 314 Quissett Avenue Falmouth, MA
- $4995000 41 Beccles Road Falmouth, MA
- $4900000 34 Saquatucket Bluffs Road Harwich, MA
- $4560000 978 Main Street Barnstable, MA
- $3675000 46 Waterside Avenue Falmouth, MA
- $3500000 707 South Main Street Barnstable, MA
- $3350000 30 Gulch Road Wellfleet, MA
- $3187500 50 West Vine Street Provincetown, MA
- $3000000 219 Wianno Avenue Barnstable, MA
- $2850000 76 Old North Road Bourne, MA
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