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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 December 2021 versus January 2022:
The Number of SOLD listings decreased by 34% to 246 properties with a top sale of $8 million at 116 Old Wharf Road in Chatham.
The Average Sales Price increased by 7% to $916,000 and the Average Price Per Square Foot increased by 2% to $460 per square foot.
The inventory of properties available for sale as measured in months supply increased by 37% to 2.01 months worth of properties for sale.
The average 30-year fixed mortgage rate increased by 13% to an average rate of 3.71% 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
December 2021 – $855508
January 2022 – $916524
7% up
Average Days On Market
December 2021 – 33
January 2022 – 33
0% no change
Average Sale Price Per Square Foot
December 2021 – $449.43
January 2022 – $460.11
2% up
Sale to List Price Ratio
December 2021 – 99.26%
January 2022 – 98.48%
1% down
Number of Sold Listings
December 2021 – 371
January 2022 – 246
34% down
Months Supply of Inventory
December 2021 – 1.47
January 2022 – 2.01
37% up
Mortgage Rate
December 2021 – 3.27%
January 2022 – 3.71%
13% up
Top 10 Sales
- $8000000 116 Old Wharf Road Chatham, MA
- $6700000 49 Saquatucket Bluffs Road Harwich, MA
- $5900000 61 Shore Road Harwich, MA
- $5590000 6 Payomet Lane Truro, MA
- $4200000 8 Newton Avenue Barnstable, MA
- $3999000 28 River Lane Dennis, MA
- $3900000 20 Bay Shore Road Barnstable, MA
- $3350000 50 J H Sears Road Dennis, MA
- $2725000 117 Commercial Street Provincetown, MA
- $2645000 26 Cove Road Chatham, MA
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