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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 July 2022 versus June 2022:
The Number of SOLD listings decreased by 18% to 274 properties with a top sale of $9.4 million at 8 Jessie’s Lane in Yarmouth.
The Average Sales Price decreased by 3% to $932000 and the Price Per Square Foot had minimal change, averaging $480 per square foot.
The inventory of properties available for sale as measured in months supply increased by 24% to 3.31 months worth of properties for sale.
The average 30 year fixed mortgage rate decreased to 5.59% 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
June 2022 – $962652
July 2022 – $932401
3% down
Average Days On Market
June 2022 – 17
July 2022 – 22
29% up
Average Sale Price Per Square Foot
June 2022 – $478.76
July 2022 – $480.13
0% no change
Sale to List Price Ratio
June 2022 – 103.46%
July 2022 – 101.27%
2% down
Number of Sold Listings
June 2022 – 335
July 2022 – 274
18% down
Months Supply of Inventory
June 2022 – 2.68
July 2022 – 3.31
24% up
Mortgage Rate
June 2022 – 5.85%
July 2022 – 5.59%
4% down
Top 10 Sales
- $9400000 8 Jessie’s Lane Yarmouth, MA
- $6500000 52 Tisquantum Road Chatham, MA
- $4100000 50 Commercial Street #U1 Provincetown, MA
- $4000000 43 Iyanough Avenue Barnstable, MA
- $3995000 11 Portside Lane Orleans, MA
- $3430000 681 Head Of The Bay Road Bourne, MA
- $3300000 176 Waterside Drive Falmouth, MA
- $3250000 3 Snow Way Orleans, MA
- $2995000 164 Namequoit Road Orleans, MA
- $2850000 10 Nairn Road Bourne, MA
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