Cape Cod | Massachusetts
High-End Market Watch
First Quarter 2018

Market Highlights

HIGH-END $2,000,000+ MARKET HIGHLIGHTS

  • Inventory down 12% (202 vs 230 last year).
  • Sales up slightly (14 vs 12 last year).
  • Top sale: $11,250,000 251 Seapuit Road, Osterville.
  • LandVest’s markets continue to perform strongly with significant record sales.
  • Special properties, expertly presented, reaching out to a broad market with a strong value
    proposition, are well received by the market.

2018 Cape Cod Q1 Market Watch

 


Active Listings

On Cape Cod, Massachusetts, in the first quarter of 2018, the inventory of high-end listings decreased by 12% to 202 listings compared to 230 last year and the record of 253 listings in 2016. On average, since 2009 there have been 221 listings at the end of the first quarter.

2018 Cape Cod Q1 Market Watch  - Active Listings

 


High-End Sales

Sales were up slightly in the first quarter (14), compared to 12 sales last year and the record of 19 sales in 2005. On average, since 2009 there have been 12 sales at the end of the first quarter.

2018 Cape Cod Q1 Market Watch  - High-End Sales
 


First Quarter 2018- Top Sale

Property: 251 Seapuit Road • Town: Osterville • Selling price: $11,250,000
St Mary’s Island, a unique private 5-acre island connected by a causeway to the mainland. The Norman-style residence has nearly 9,000 square feet of living space plus a one-bed cottage and a deep waterdock. Originally priced at $18,500,000, the property sold in 168 days.

2018 Cape Cod Q1 Market Watch  - Top Sale

Source: MLS


 


Highest & Median Sale

2018 Cape Cod Q1 Market Watch  - Highest & Median Sale

 


Days on Market

Days on market for high-end sales in the first quarter decreased significantly to 287 from 417 last year, and were also above the average of 429 from 2009-2018.

2018 Cape Cod Q1 Market Watch  - Days on Market

 


Sales by Town

In the first quarter of 2018, 8 of the 15 towns on Cape Cod had sales at the $2,000,000+ level. Barnstable led with 5 sales, of which 4 were in Osterville. Falmouth and Harwich followed each with 2 sales. Bourne, Chatham, Dennis, Provincetown, and Yarmouth each had 1 sale.

2018 Cape Cod Q1 Market Watch  - sales by town map
 
2018 Cape Cod Q1 Market Watch - Sales by town, table
 


 


For additional information about LandVest’s brokerage, real estate consulting, and appraisal services, please contact:

Stewart Young | syoung@landvest.com | 617-359-8930 or
Jamie Crowley | jcrowley@landvest.com | 508-982-4029

Click here to to see available Cape Cod Real Estate listings.

 


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