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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 May 2022 versus April 2022:
The Number of SOLD listings increased by 9% to 273 properties with a top sale of $7.275 million at 500 Shore Road in Chatham.
The Average Sales Price decreased by 10% to $981000 moving the Average Price Per Square Foot down to $495 per square foot.
The inventory of properties available for sale as measured in months supply increased by 5% to 2.87 months worth of properties for sale.
The average 30 year fixed mortgage rate decreased to 5.28% according to Bank Rate.com.
Cape Cod
Average Sales Price
April 2022 – $1093309
May 2022 – $981402
10% down
Average Days On Market
April 2022 – 42
May 2022 – 30
29% down
Average Sale Price Per Square Foot
April 2022 – $531.11
May 2022 – $494.99
7% down
Sale to List Price Ratio
April 2022 – 100.66%
May 2022 – 101.94%
1% up
Number of Sold Listings
April 2022 – 250
May 2022 – 273
9% up
Months Supply of Inventory
April 2022 – 2.73
May 2022 – 2.87
5% up
Mortgage Rate
April 2022 – 5.42%
May 2022 – 5.28%
3% down
Top 10 Sales
- $7275000 500 Shore Road Chatham, MA
- $5800000 58 Whistler Lane Chatham, MA
- $5495000 30 Twinings Lane Orleans, MA
- $4750000 41 Uncle Roberts Road Yarmouth, MA
- $3600000 322 Green Dunes Barnstable, MA
- $3530000 14 Little Cove Lane Orleans, MA
- $3500000 587 Commercial Street Provincetown, MA
- $3375000 128 Starboard Lane Barnstable, MA
- $2960000 83 Bunker Hill Road Barnstable, MA
- $2850000 119 Scatteree Road Chatham, MA
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