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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 October 2023 versus November 2023:
The Number of SOLD listings decreased 17% to 221 properties with a top sale of $4.5 million at 444 Vineyard Road in Barnstable.
The Average Sales Price decreased 8% to $989 thousand and the Average Price Per Square Foot decreased 4% to $500.
The inventory of properties available for sale as measured in months supply increased by 7% to 3.63 months worth of properties for sale.
The average 30-year fixed mortgage rate decreased 7% with an average rate of 7.41% 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
October 2023 – $1076403
November 2023 – $989049
8% down
Average Days On Market
October 2023 – 31
November 2023 – 30
3% down
Average Sale Price Per Square Foot
October 2023 – $521.48
November 2023 – $499.69
4% down
Median Sales Price
October 2023 – $801000
November 2023 – $770000
4% down
Number of Sold Listings
October 2023 – 266
November 2023 – 221
17% down
Months Supply of Inventory
October 2023 – 3.38
November 2023 – 3.63
7% up
Mortgage Rate
October 2023 – 8.01%
November 2023 – 7.41%
7% down
Top 10 Sales
- $4500000 444 Vineyard Road Barnstable, MA
- $3900000 6 & 6A Bay View Path Truro, MA
- $3150000 129 Little Neck Bars Road Falmouth, MA
- $3000000 13 Captains Cove Lane Chatham, MA
- $2700000 256 Woodland Way Chatham, MA
- $2625000 232 Tonset Road Orleans, MA
- $2550000 3 Elijah’s Woods Harwich, MA
- $2330000 130 Howard Court Wellfleet, MA
- $2250000 47 Geranium Drive Chatham, MA
- $2175000 40-2 Shore St Falmouth, MA
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