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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 September 2023 versus October 2023:
The Number of SOLD listings increased 12% to 252 properties with a top sale of $6.5 million at 33 Dunes Road in Harwich.
The Average Sales Price increased 3% to $1.08 million and the Average Price Per Square Foot decreased 5% to $524.
The inventory of properties available for sale as measured in months supply decreased by 12% to 3.48 months worth of properties for sale.
The average 30-year fixed mortgage rate increased 6% with an average rate of 8.01% according to Bank Rate.com.
Cape Cod
Average Sales Price
September 2023 – $1050080
October 2023 – $1082979
3% up
Average Days On Market
September 2023 – 28
October 2023 – 33
18% up
Average Sale Price Per Square Foot
September 2023 – $550.72
October 2023 – $523.880870874016
5% down
Median Sales Price
September 2023 – $794000
October 2023 – $801000
1% up
Number of Sold Listings
September 2023 – 225
October 2023 – 252
12% up
Months Supply of Inventory
September 2023 – 3.95
October 2023 – 3.48
12% down
Mortgage Rate
September 2023 – 7.55%
October 2023 – 8.01%
6% up
Top 10 Sales
- $6500000 33 Dunes Road Harwich, MA
- $5500000 29 Walther Road Harwich, MA
- $4400000 67 Uncle Alberts Drive Chatham, MA
- $4280000 320 Seapuit River Road Barnstable, MA
- $4200000 34 Sandpiper Road Truro, MA
- $4100000 23 Pilgrims Path Truro, MA
- $3800000 75 Standish Avenue Avenue Falmouth, MA
- $3775000 1 Quinapoxet Avenue Falmouth, MA
- $3750000 66 Woodland Way Chatham, MA
- $3600000 410 King Phillip Road Wellfleet, MA
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