Real Estate Market Update | Cape Cod | February 2024 Vs January 2024

Real Estate Market Update | Cape Cod | February 2024 vs January 2024
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 February 2024 vs January 2024
The Number of SOLD listings decreased 7% to 141 properties with a top sale of $2.8 million at 168 Waterside Dr in Falmouth.
The Average Sales Price decreased 13% to $875 thousand and the Average Price Per Square Foot decreased 5% to $475.
The inventory of properties available for sale as measured in months supply increased by 11% to 4.43 months worth of properties for sale.
The average 30-year fixed mortgage rate increased 6% with an average rate of 7.22% according to Bank Rate.com
If you’re thinking about buying or selling residential real estate now or in the near future, it’s important to seek the guidance and advice of a professional real estate agent.
Thanks for tuning in, we’ll see you in the next Griffin Real Estate Market Update.
Cape Cod
Average Sales Price
January 2024 - $1007009.20394737
February 2024 - $875131.21
13% down
Average Days On Market
January 2024 - 49
February 2024 - 49
0% no change
Average Sale Price Per Square Foot
January 2024 - $500
February 2024 - $475.21
5% down
Median Sales Price
January 2024 - $692500
February 2024 - $702000
1% up
Number of Sold Listings
January 2024 - 152
February 2024 - 141
7% down
Months Supply of Inventory
January 2024 - 3.99
February 2024 - 4.43
11% up
Mortgage Rate
January 2024 - 6.84%
February 2024 - 7.22%
6% up
Top 10 Sales
1) $2800000 168 Waterside Drive Falmouth, MA
2) $2600000 40 Pershing Lane Orleans, MA
3) $2430000 91 Gullane Road Mashpee, MA
4) $2375000 19 Dr Bottero Road Dennis, MA
5) $2200000 12 Captain Hook Road Sandwich, MA
6) $2062500 322 Route 6A Yarmouth, MA
7) $1925000 24 Farm Valley Road Barnstable, MA
8) $1900000 15 Bascom Hollow Harwich, MA
9) $1900000 19 State Street Sandwich, MA
10) $1800000 208 Kendrick Road Chatham, MA
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