- Turnkey properties are favored
- Inventories are high, especially at the higher end of the price range
- Record 99 High-End Sales
- Pent-up demand and a strong stock market are fueling the market, but excess inventory means sellers must compete for buyers
On Cape Cod, the inventory of high-end $2,000,000+ listings at the end of 2016 is near record levels with 201 listings compared to a record level of 232 at the same time in the previous year.
On Cape Cod, the high-end market is predominately in the $2-$3 million range.
2016 has repeated the strong performance of the past five years with a record 99 sales compared to 93 in 2015 and 2014.
2016 Top Sale
Property: 132 Shore Road • Town: Chatham • Lot: 1.3 acres • Selling price: $10,800,000 • Days on Market: 32
The elegant nicely renovated 1900s house was sold for $5,600,000 in 2008 and completely renovated by the current owners.
Highest & Median Sale
Days on Market
Days on the market were down significantly to 374 days compared to 378 days in 2015 and an average since 2007 of 346 days.
Sales by Town
Starting around 2002, the high-end market on Cape Cod broadened as the perennial top markets were perceived as being too expensive and as buyers bid up the prices of special properties in other towns.
In 2016, 13 of the 15 towns on Cape Cod had sales at the $2,000,000+ level.
For additional information about LandVest’s brokerage, real estate consulting, and appraisal services, please contact:
Stewart Young | (firstname.lastname@example.org) | 617-359-8930
or click here to view Stewart’s current Real Estate listings.