HIGH-END $2,000,000+ MARKET HIGHLIGHTS
- Inventory down 6% (215 vs 229 last year).
- Record sales up 14% (48 vs 42 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.
On Cape Cod, Massachusetts, in the second quarter of 2018, the inventory of high-end listings decreased by 6% to 215 listings compared to 229 last year and the record of 271 listings in 2011 and 2016. On average, since 2009 there have been 247 listings at the end of the second quarter.
Sales were at record levels in the second quarter (48), compared to 42 sales last year and the previous record of 44 sales in 2006. On average, since 2009 there have been 33 sales at the end of the second quarter.
Second 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-water dock. Originally priced at $18,500,000, the property sold in 168 days.
Highest & Median Sale
Days on Market
Days on market for high-end sales in the second quarter increased to 331 from 309 last year, and are significantly lower than the average from 2009-2018 of 413.
Sales by Town
In the second quarter of 2018, 13 of the 15 towns on Cape Cod had sales at the $2,000,000+ level. Barnstable led with 13 sales, of which 8 were in Osterville. Other active towns were Chatham (11) and Falmouth (8). The next most active was Bourne with 3 sales. Mashpee, Dennis, Harwich and Provincetown followed each with 2 sales. Sandwich, Eastham, Orleans, Truro, and Yarmouth each had 1 sale.
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