July Real Estate Market Report | Outer Cape

Market Report Outer Cape YTD July 2024 I PREPARED BY MARK LYNETT

Gibson Sothehy's INTERNATIONAL REALTY

PHOTO BY MARK LYNETT

Mark Lynett

Office: 508.487.2430 Cell: 518.879.9838 mark.lynett@gibsonsir.com

Gibson Sotheby's International Realty

July Median Sales Price | Single Family Provincetown (Town)

Truro (Town)

Wellfleet (Town)

$2.5M

$2,212,500 $2,075,000

$2.0M

$1,965,461

$1,667,500

$1.5M $1,387,500

$1,100,000 $1,050,000

$1.0M $887,000

$878,750

$0.5M

$0

+5.6% 2022

-24.3%

+25.2%

+6.6%

+58.8%

-19.4%

2023 2024 Provincetown (Town) & Truro (Town) & Wellfleet (Town): Single-Family Detached Each data point represents year-to-date activity. Data is from August 2, 2024.

All data from data provided by Cape Cod and Islands Association of REALTORS®. InfoSparks © 2024 ShowingTime.

Mark Lynett

Office: 508.487.2430 Cell: 518.879.9838 mark.lynett@gibsonsir.com

Gibson Sotheby's International Realty

July Median Sales Price | Condominiums Provincetown (Town)

Truro (Town)

Wellfleet (Town)

$1.0M $900,000

$789,500

$0.8M $757,000

$735,000

$0.6M $525,000 $482,500

$487,500

+9.3%

-33.7%

$441,250

$431,500

$0.4M

$0.2M

$0

+4.3% 2022

+2.3%

+40.0%

+14.0%

2023 2024 Provincetown (Town) & Truro (Town) & Wellfleet (Town): Condo/Townhouse Each data point represents year-to-date activity. Data is from August 2, 2024.

All data from data provided by Cape Cod and Islands Association of REALTORS®. InfoSparks © 2024 ShowingTime.

Mark Lynett

Office: 508.487.2430 Cell: 518.879.9838 mark.lynett@gibsonsir.com

Gibson Sotheby's International Realty

July New Listings | Single Family Provincetown (Town)

Truro (Town)

Wellfleet (Town)

60

52 50

43 41 39

40

30

38

28 24 21

22

20

10

0

+14.3% 2022

+27.3%

+4.9%

+62.5%

+35.7%

+20.9%

2023 2024 Provincetown (Town) & Truro (Town) & Wellfleet (Town): Single-Family Detached Each data point represents year-to-date activity. Data is from August 2, 2024.

All data from data provided by Cape Cod and Islands Association of REALTORS®. InfoSparks © 2024 ShowingTime.

Mark Lynett

Office: 508.487.2430 Cell: 518.879.9838 mark.lynett@gibsonsir.com

Gibson Sotheby's International Realty

July New Listings | Condominiums Provincetown (Town)

Truro (Town)

Wellfleet (Town)

120

99

100

80

80 71

60

40

20

20 16

16

14

12

10 0

-11.3% 2022

-30.0%

-37.5%

+39.4%

+14.3%

+20.0%

2023 2024 Provincetown (Town) & Truro (Town) & Wellfleet (Town): Condo/Townhouse Each data point represents year-to-date activity. Data is from August 2, 2024.

All data from data provided by Cape Cod and Islands Association of REALTORS®. InfoSparks © 2024 ShowingTime.

Mark Lynett

Office: 508.487.2430 Cell: 518.879.9838 mark.lynett@gibsonsir.com

Gibson Sotheby's International Realty

July Homes for Sale | Single Family Provincetown (Town)

Truro (Town)

Wellfleet (Town)

30

25

23 20

20

16 15

14 13 11

10

9 6

6

5

0

+22.2%

2022

+133.3%

+116.7%

+109.1%

+14.3%

+53.8%

2023 2024 Provincetown (Town) & Truro (Town) & Wellfleet (Town): Single-Family Detached Each data point represents year-to-date activity. Data is from August 2, 2024.

All data from data provided by Cape Cod and Islands Association of REALTORS®. InfoSparks © 2024 ShowingTime.

Mark Lynett

Office: 508.487.2430 Cell: 518.879.9838 mark.lynett@gibsonsir.com

Gibson Sotheby's International Realty

July Homes for Sale | Condominiums Provincetown (Town)

Truro (Town)

Wellfleet (Town)

30

26 25

25

21 20

15

10

5

5

5

5 4

4 3

0

+19.0% 2022

0.0%

-25.0%

+4.0%

0.0%

+33.3%

2023 2024 Provincetown (Town) & Truro (Town) & Wellfleet (Town): Condo/Townhouse Each data point represents year-to-date activity. Data is from August 2, 2024.

All data from data provided by Cape Cod and Islands Association of REALTORS®. InfoSparks © 2024 ShowingTime.

Mark Lynett

Office: 508.487.2430 Cell: 518.879.9838 mark.lynett@gibsonsir.com

Gibson Sotheby's International Realty

July Pending Sales | Single Family Provincetown (Town)

Truro (Town)

Wellfleet (Town)

40

36 32 30

30

20

19

20

17 15 12 9

10

0

-47.1% 2022

+58.3%

+12.5%

+66.7%

+5.3%

-16.7%

2023 2024 Provincetown (Town) & Truro (Town) & Wellfleet (Town): Single-Family Detached Each data point represents year-to-date activity. Data is from August 2, 2024.

All data from data provided by Cape Cod and Islands Association of REALTORS®. InfoSparks © 2024 ShowingTime.

Mark Lynett

Office: 508.487.2430 Cell: 518.879.9838 mark.lynett@gibsonsir.com

Gibson Sotheby's International Realty

July Pending Sales | Condominiums Provincetown (Town)

Truro (Town)

Wellfleet (Town)

80

66

64

62

60

40

20

15

14

13

10

8 4

0

-3.1%

2022

+7.1%

-60.0%

+6.5%

-13.3%

+100.0%

2023 2024 Provincetown (Town) & Truro (Town) & Wellfleet (Town): Condo/Townhouse Each data point represents year-to-date activity. Data is from August 2, 2024.

All data from data provided by Cape Cod and Islands Association of REALTORS®. InfoSparks © 2024 ShowingTime.

Mark Lynett

Office: 508.487.2430 Cell: 518.879.9838 mark.lynett@gibsonsir.com

Gibson Sotheby's International Realty

July Closed Sales | Single Family Provincetown (Town)

Truro (Town)

Wellfleet (Town)

35

30

30

28

27 25

20

18 16 15

15

14

12 10

9

5

0

-43.8% 2022

+7.1%

-10.0%

+33.3%

+20.0%

+3.7%

2023 2024 Provincetown (Town) & Truro (Town) & Wellfleet (Town): Single-Family Detached Each data point represents year-to-date activity. Data is from August 2, 2024.

All data from data provided by Cape Cod and Islands Association of REALTORS®. InfoSparks © 2024 ShowingTime.

Mark Lynett

Office: 508.487.2430 Cell: 518.879.9838 mark.lynett@gibsonsir.com

Gibson Sotheby's International Realty

July Closed Sales | Condominiums Provincetown (Town)

Truro (Town)

Wellfleet (Town)

70

60

61

60

58

50

40

30

20

14

13

12 9

10

6 3 0

-3.3%

2022

-14.3%

-66.7%

+5.2%

+8.3%

+100.0%

2023 2024 Provincetown (Town) & Truro (Town) & Wellfleet (Town): Condo/Townhouse Each data point represents year-to-date activity. Data is from August 2, 2024.

All data from data provided by Cape Cod and Islands Association of REALTORS®. InfoSparks © 2024 ShowingTime.

Mark Lynett

Office: 508.487.2430 Cell: 518.879.9838 mark.lynett@gibsonsir.com

Gibson Sotheby's International Realty

July Median Days on Market | Single Family Provincetown (Town)

Truro (Town)

Wellfleet (Town)

70

60

50

58

48

40

35 29

30

25 20

18 13

10

8

6 0

-39.6%

2022

+346.2%

+316.7%

+20.7%

-69.0%

-68.0%

2023 2024 Provincetown (Town) & Truro (Town) & Wellfleet (Town): Single-Family Detached Each data point represents year-to-date activity. Data is from August 2, 2024.

All data from data provided by Cape Cod and Islands Association of REALTORS®. InfoSparks © 2024 ShowingTime.

Mark Lynett

Office: 508.487.2430 Cell: 518.879.9838 mark.lynett@gibsonsir.com

Gibson Sotheby's International Realty

July Median Days on Market | Condominiums Provincetown (Town)

Truro (Town)

Wellfleet (Town)

100

80

75

60

40

36 27 21

20

11

14 10

13

6 0

+27.3%

2022

+30.0%

+1,150.0%

+50.0%

+107.7%

-52.0%

2023 2024 Provincetown (Town) & Truro (Town) & Wellfleet (Town): Condo/Townhouse Each data point represents year-to-date activity. Data is from August 2, 2024.

All data from data provided by Cape Cod and Islands Association of REALTORS®. InfoSparks © 2024 ShowingTime.

Mark Lynett

Office: 508.487.2430 Cell: 518.879.9838 mark.lynett@gibsonsir.com

Gibson Sotheby's International Realty

July Months Supply of Homes for Sale | Single Family Provincetown (Town)

Truro (Town)

Wellfleet (Town)

14.0

12.0

11.1 10.0

8.0

6.0

5.0

5.0

4.8

3.8

4.0

2.4

2.2 2.0

1.6

0.0

1.2

+127.3%

2022

+200.0%

+100.0%

+122.0%

+4.2%

+58.3%

2023 2024 Provincetown (Town) & Truro (Town) & Wellfleet (Town): Single-Family Detached Each data point represents year-to-date activity. Data is from August 2, 2024.

All data from data provided by Cape Cod and Islands Association of REALTORS®. InfoSparks © 2024 ShowingTime.

Mark Lynett

Office: 508.487.2430 Cell: 518.879.9838 mark.lynett@gibsonsir.com

Gibson Sotheby's International Realty

July Months Supply of Homes for Sale | Condominiums Provincetown (Town)

Truro (Town)

Wellfleet (Town)

3.5

3.1

3.1

3.0

3.0

2.5

2.0

1.5

2.4

2.3

2.3

+53.3%

-25.8%

2.3

1.9 1.5

1.0

0.5

0.0

+26.3% 2022

+29.2%

0.0%

+30.4%

2023 2024 Provincetown (Town) & Truro (Town) & Wellfleet (Town): Condo/Townhouse Each data point represents year-to-date activity. Data is from August 2, 2024.

All data from data provided by Cape Cod and Islands Association of REALTORS®. InfoSparks © 2024 ShowingTime.

Mark Lynett

Office: 508.487.2430 Cell: 518.879.9838 mark.lynett@gibsonsir.com

Gibson Sotheby's International Realty

July Median Percent of Last List Price | Single Family Provincetown (Town)

Truro (Town)

Wellfleet (Town)

120.0%

100.0% 101.0%

100.0%

95.8%

93.0%

100.0%

97.9%

96.0%

94.4% 86.9%

80.0%

60.0%

40.0%

20.0%

0.0%

+3.0% 2022

-5.6%

-3.1%

-9.3%

+1.7% +2.1%

2023 2024 Provincetown (Town) & Truro (Town) & Wellfleet (Town): Single-Family Detached Each data point represents year-to-date activity. Data is from August 2, 2024.

All data from data provided by Cape Cod and Islands Association of REALTORS®. InfoSparks © 2024 ShowingTime.

Mark Lynett

Office: 508.487.2430 Cell: 518.879.9838 mark.lynett@gibsonsir.com

Gibson Sotheby's International Realty

July Median Percent of Last List Price | Condominiums Provincetown (Town)

Truro (Town)

Wellfleet (Town)

120.0%

106.3% 105.5% 100.0%

100.0%

99.4%

97.5%

97.8%

98.8%

99.4%

-8.3%

-7.3%

-0.6%

+1.9% +1.1%

98.9%

80.0%

60.0%

40.0%

20.0%

0.0%

-0.6% 2022

2023 2024 Provincetown (Town) & Truro (Town) & Wellfleet (Town): Condo/Townhouse Each data point represents year-to-date activity. Data is from August 2, 2024.

All data from data provided by Cape Cod and Islands Association of REALTORS®. InfoSparks © 2024 ShowingTime.

Mark Lynett

Office: 508.487.2430 Cell: 518.879.9838 mark.lynett@gibsonsir.com

Gibson Sotheby's International Realty

July Dollar V olume of Closed Sales | Single Family Provincetown (Town)

Truro (Town)

Wellfleet (Town)

$40M

$34,082,921 $32,055,350

$32,152,000 $30,202,500

$29,864,400

$30M

$27,610,500 $25,357,900

$22,619,000 $21,115,000

$20M

$10M

$0

-33.6% 2022

-16.7%

+7.3%

+42.1%

+43.0%

-13.9%

2023 2024 Provincetown (Town) & Truro (Town) & Wellfleet (Town): Single-Family Detached Each data point represents year-to-date activity. Data is from August 2, 2024.

All data from data provided by Cape Cod and Islands Association of REALTORS®. InfoSparks © 2024 ShowingTime.

Mark Lynett

Office: 508.487.2430 Cell: 518.879.9838 mark.lynett@gibsonsir.com

Gibson Sotheby's International Realty

July Dollar V olume of Closed Sales | Condominiums Provincetown (Town)

Truro (Town)

Wellfleet (Town)

$70M

$62,348,277

$60M $54,566,375 $51,050,418

$50M

$40M

$30M

$20M

$10M

$7,716,000 $6,428,900

$5,376,500

$4,711,500

$3,179,700 $1,855,500

$0

-6.4% 2022

-30.3%

-60.6%

+22.1%

+19.6%

+71.4%

2023 2024 Provincetown (Town) & Truro (Town) & Wellfleet (Town): Condo/Townhouse Each data point represents year-to-date activity. Data is from August 2, 2024.

All data from data provided by Cape Cod and Islands Association of REALTORS®. InfoSparks © 2024 ShowingTime.

Mark Lynett

Office: 508.487.2430 Cell: 518.879.9838 mark.lynett@gibsonsir.com

Gibson Sotheby's International Realty

July Dollar V olume of Closed Sales | All Property Types Provincetown (Town)

Truro (Town)

Wellfleet (Town)

$120M

$100M $94,500,277 $88,649,296

$80M $73,669,418

$60M

$40M $33,073,900

$36,631,400

$34,575,900

$33,910,850 $30,790,200 $26,491,500

$20M

$0

-16.9% 2022

-19.9% 2023

-1.9%

+28.3%

+38.3%

-9.2%

2024 Provincetown (Town) & Truro (Town) & Wellfleet (Town) Each data point represents year-to-date activity. Data is from August 2, 2024.

All data from data provided by Cape Cod and Islands Association of REALTORS®. InfoSparks © 2024 ShowingTime.

Mark Lynett 518.879.9839 Mark.Lynett@GibsonSIR.com

Gibson Sothehy's INTERNATIONAL REALTY

© 2023 Sotheby's International Realty ® and the Sotheby's International Realty Logo are service marks licensed to Sotheby's International Realty Affiliates LLC and used with permission. Gibson Sotheby's International Realty fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated. Any services or products provided by independently owned and operated franchisees are not provided by, affiliated with or related to Sotheby's International Realty Affiliates LLC nor any of its affiliated companies. If your property is listed with a real estate broker. please disregard. It is not our intention to solicit the offerings of other real estate brokers. All information provided is based on third-party sources.The Broker makes no warranty as to the accuracy of the information provided to the Broker by a third party. Source: CCAIOR Flex MLS. Outer Cape in this report consists of Provincetown, Truro. and Wellfleet