Market Insights
CAPE COD
A L ET T ER FROM OUR
ChiefExecutiveOfficer
The third quarter came to a close with another strong showing in the housing market in Eastern Massachusetts However, economic conditions are changing and we are seeing the signs of a coming market shift. This is something that experts have been predicting ? that inflation would need to be addressed and that those measures would slow economic growth and impact the housing market
On the top of everyone?s minds are mortgage interest rates. Rates had been held at historic lows for a long time Recently the Federal Reserve has been raising the Federal Funds Rate in an attempt to tame inflation. Most experts believe that while the Fed may continue their policy with additional increases, the largest increases are behind us
The question most clients are asking is how much will the housing market change? For the answer, we will look back at the last recession and how Massachusetts withstood those difficult conditions It is important to note that experts do not expect the same kind of negative impact as we saw as a result of the mortgage crisis of 2008 Mortgage practices have been far more rigorous and homeowners have a great deal more equity in their home today
The price index graph on the right shows home prices in Massachusetts and the bordering states compared to Florida and Nevada.As you can see,our region was less impacted.This demonstrates that there is no national housing forecast, just as there is no national weather forecast When it rains in Nevada,you don? t necessarily need an umbrella in Boston
Our colleagues in the mortgage industry are bringing back some financial instruments to help buyers and sellers in this shifting market. These include rate buy downs and adjustable rate mortgages. Both of these are designed to help consumers to contend with short term rake hikes
During changing market conditions, it is critically important that you work with a knowledgeable professional If you have questions about the value of your current home or about how you can prepare to purchase a home today,please connect with one of our agents.
Colleen Barry, CEO Gibson Sotheby's International Realty
HOM E PRICE INDEX FROM FHFA
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Nicole Rideout Hartwick Chief Strategy Officer
Gibson Sotheby?s International Realty
Family values and a culture of support are essential to our company ethos
REA D M ORE I N T H E J UN E I SSUE OF RI SM EDI A
UpperCape
DAYS ON M
RK ET
Bourne
SINGLE FAM ILY
N EW L I ST I N GS
Q3 2022 63 (-8% YOY) Q3 2021 69
M EDI A N SA L E PRI CE
Q3 2022
$540,000 ( 2% YOY) Q3 2021 $555,000
Falmouth
SINGLE FAM ILY
N EW L I ST I N GS
Q3 2022 152 (-10% YOY) Q3 2021 170
M EDI A N SA L E PRI CE
Q3 2022
$700,000 (+1% YOY)
Q3 2021 $689,000
AVERAGE DAYS ON M A RK ET
Q3 2022 31(+7% YOY) Q3 2021 29
SOL D L I ST I N GS
Q3 2022 48 ( 11% YOY) Q3 2021 54
AVERAGE DAYS ON M A RK ET
Q3 2022 18 (-10% YOY) Q3 2021 20
SOL D L I ST I N GS
Q3 2022 121(-21% YOY) Q3 2021 155
Mashpee
SINGLE FAM ILY
N EW L I ST I N GS
Q3 2022 78 (-8% YOY) Q3 2021 85
M EDI A N SA L E PRI CE
Q3 2022 $829,950 (+22% YOY) Q3 2021 $675,000
Sandwich
SINGLE FAM ILY
N EW L I ST I N GS
Q3 2022 99 (-17% YOY) Q3 2021 120
M EDI A N SA L E PRI CE
Q3 2022
$640,000 (+4% YOY)
Q3 2021 $611,000
AVERAGE DAYS ON M A RK ET
Q3 2022 29 (+16% YOY) Q3 2021 25
SOL D L I ST I N GS
Q3 2022 62 ( 16% YOY) Q3 2021 74
AVERAGE DAYS ON M A RK ET
Q3 2022 31(+94% YOY) Q3 2021 16
SOL D L I ST I N GS
Q3 2022 75 (-21% YOY)
Q3 2021 95
INIUM S
ON
Bourne
CONDOM INIUM S
N EW L I ST I N GS
Q3 2022
21(+75% YOY)
Q3 2021 12
M EDI A N SA L E PRI CE
Q3 2022 $628,950 (+116% YOY) Q3 2021 $289,900
Falmouth
CONDOM INIUM S
N EW L I ST I N GS
Q3 2022 19 (-29% YOY)
Q3 2021 27
M EDI A N SA L E PRI CE
Q3 2022
$788,550 (+43% YOY)
Q3 2021 $549,950
AVERAGE DAYS ON M A RK ET
Q3 2022 20 (-82% YOY) Q3 2021 114
SOL D L I ST I N GS
Q3 2022 16 (+45% YOY) Q3 2021 11
AVERAGE DAYS ON M A RK ET
Q3 2022 14 (-33% YOY) Q3 2021 21
SOL D L I ST I N GS
Q3 2022 12 (-45% YOY)
Q3 2021 22
Mashpee
CONDOM INIUM S
N EW L I ST I N GS
Q3 2022 36 (-41% YOY) Q3 2021 62
M EDI A N SA L E PRI CE
Q3 2022 $455,150 ( 6% YOY) Q3 2021 $485,000
Sandwich
CONDOM INIUM S
N EW L I ST I N GS
Q3 2022 4 (-33% YOY) Q3 2021 6
M EDI A N SA L E PRI CE
Q3 2022 $390,000 (+13% YOY)
Q3 2021 $343,500
AVERAGE DAYS ON M A RK ET
Q3 2022 18 (-14% YOY) Q3 2021 21
SOL D L I ST I N GS
Q3 2022 32 ( 31% YOY) Q3 2021 47
AVERAGE DAYS ON M A RK ET
Q3 2022 17 (+183% YOY) Q3 2021 6
SOL D L I ST I N GS
Q3 2022 9 (+50% YOY)
Q3 2021 6
WhiteGlove
LUXURY BEGINS WITH SERVICE Gibson Sotheby?s International Realty?s White Glove program is designed to provide luxurious and comprehensive home preparation services with professional project management and no upfront costs. White Glove offers our clients value at every stage of the home selling or buying process with an exclusive suite of seamless services powered by Zoom Casa.
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Dennis
SINGLE FAM ILY
N EW L I ST I N GS
Q3 2022 79 (-31% YOY)
Q3 2021 116
M EDI A N SA L E PRI CE
Q3 2022 $650,000 (+32% YOY) Q3 2021 $490,000
Yarmouth
SINGLE FAM ILY
N EW L I ST I N GS
Q3 2022 129 ( 28% YOY)
Q3 2021 181
M EDI A N SA L E PRI CE
Q3 2022 $550,000 (+22% YOY)
Q3 2021 $450,000
AVERAGE DAYS ON M A RK ET
Q3 2022 15 (-28% YOY) Q3 2021 21
SOL D L I ST I N GS
Q3 2022 73 ( 30% YOY) Q3 2021 105
AVERAGE DAYS ON M A RK ET
Q3 2022 13 (0% YOY) Q3 2021 13
SOL D L I ST I N GS
Q3 2022 116 (-22% YOY) Q3 2021 149
INIUM S
Dennis
CONDOM INIUM S
N EW L I ST I N GS
Q3 2022 26 (-39% YOY) Q3 2021 43
M EDI A N SA L E PRI CE
Q3 2022 $287,500 (+19% YOY) Q3 2021 $240,250
Yarmouth
CONDOM INIUM S
N EW L I ST I N GS
Q3 2022 39 (+11% YOY)
Q3 2021 35
M EDI A N SA L E PRI CE
Q3 2022 $400,000 (+37% YOY) Q3 2021 $290,000
AVERAGE DAYS ON M A RK ET
Q3 2022 56 (+143% YOY) Q3 2021 23
SOL D L I ST I N GS
Q3 2022 22 ( 38% YOY) Q3 2021 36
AVERAGE DAYS ON M A RK ET
Q3 2022 10 ( 73% YOY) Q3 2021 37
SOL D L I ST I N GS
Q3 2022 28 (-20% YOY) Q3 2021 35
RealScout
RealScout is the industry's #1collaborative home search app. Our clients rave about this innovative, mobile-friendly search tool! Want to try the future of the home buying search process? Contact our team to get started today.
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LowerCape
Brewster
SINGLE FAM ILY
N EW L I ST I N GS
Q3 2022 49 (-24% YOY) Q3 2021 65
M EDI A N SA L E PRI CE
Q3 2022
$765,000 (+10% YOY) Q3 2021 $695,000
Chatham
SINGLE FAM ILY
N EW L I ST I N GS
Q3 2022 47 (-32% YOY) Q3 2021 70
M EDI A N SA L E PRI CE
Q3 2022
$930,000 (-6% YOY)
Q3 2021 $999,000
AVERAGE DAYS ON M A RK ET
Q3 2022 10 (-60% YOY) Q3 2021 25
SOL D L I ST I N GS
Q3 2022 52 ( 16% YOY) Q3 2021 62
AVERAGE DAYS ON M A RK ET
Q3 2022 26 (-16% YOY) Q3 2021 31
SOL D L I ST I N GS
Q3 2022 38 (-41% YOY)
Q3 2021 65
Harwich
SINGLE FAM ILY
Q3 2022 67 (-22% YOY) Q3 2021 86
M EDI A N SA L E PRI CE
Q3 2022 $711,000 (+23% YOY) Q3 2021 $575,000
Orleans
SINGLE FAM ILY
N EW L I ST I N GS
Q3 2022 29 (-27% YOY) Q3 2021 40
M EDI A N SA L E PRI CE
Q3 2022 $1,288,500 (+31% YOY) Q3 2021 $976,500
AVERAGE DAYS ON M A RK ET
Q3 2022 13 (0% YOY) Q3 2021 13
N EW L I ST I N GS Q3 2022 63 ( 11% YOY) Q3 2021 71
SOL D L I ST I N GS
AVERAGE DAYS ON M A RK ET
Q3 2022 44 (+47% YOY) Q3 2021 30
SOL D L I ST I N GS
Q3 2022 20 (-37% YOY) Q3 2021 32
Brewster
CONDOM INIUM S
N EW L I ST I N GS
Q3 2022 13 (-60% YOY) Q3 2021 33
M EDI A N SA L E PRI CE
Q3 2022 $485,000 (+21% YOY) Q3 2021 $400,000
Chatham
CONDOM INIUM S
N EW L I ST I N GS
Q3 2022 6 (0% YOY) Q3 2021
M EDI A N SA L E PRI CE
Q3 2022 $627,000 (+9% YOY) Q3 2021 $575,000
AVERAGE DAYS ON M A RK ET
Q3 2022 5 (-38% YOY) Q3 2021 8
SOL D L I ST I N GS
Q3 2022 11( 59% YOY) Q3 2021 27
AVERAGE DAYS ON M A RK ET
Q3 2022 18 (-50% YOY) Q3 2021 36
SOL D L I ST I N GS
Q3 2022 9 (0% YOY)
Q3 2021 9
Harwich
CONDOM INIUM S
N EW L I ST I N GS
Q3 2022 14 (-6% YOY) Q3 2021 15
M EDI A N SA L E PRI CE
Q3 2022
$355,000 ( 35% YOY) Q3 2021 $352,000
Orleans
CONDOM INIUM S
N EW L I ST I N GS
Q3 2022 6 (-60% YOY)
Q3 2021 15
M EDI A N SA L E PRI CE
Q3 2022
$453,500 (+23% YOY)
Q3 2021 $367,500
AVERAGE DAYS ON M A RK ET
Q3 2022 23 (+35% YOY) Q3 2021 17
SOL D L I ST I N GS
Q3 2022 15 (+36% YOY) Q3 2021 11
AVERAGE DAYS ON M A RK ET
Q3 2022 59 (+211% YOY) Q3 2021 19
SOL D L I ST I N GS
Q3 2022 10 (-16% YOY)
Q3 2021 12
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Eastham
SINGLE FAM ILY
N EW L I ST I N GS
Q3 2022 40 (-27% YOY) Q3 2021 55
M EDI A N SA L E PRI CE
Q3 2022 $713,000 (+12% YOY) Q3 2021 $635,000
Wellfleet
SINGLE FAM ILY
N EW L I ST I N GS
Q3 2022 24 (-4% YOY)
Q3 2021 25
M EDI A N SA L E PRI CE
Q3 2022
$1,000,000 (+18% YOY)
Q3 2021 $844,000
AVERAGE DAYS ON M A RK ET
Q3 2022 17 (+54% YOY) Q3 2021 11
SOL D L I ST I N GS
Q3 2022 36 ( 7% YOY) Q3 2021 39
AVERAGE DAYS ON M A RK ET
Q3 2022 11(-62% YOY) Q3 2021 29
SOL D L I ST I N GS
Q3 2022 20 (+33% YOY)
Q3 2021 15
Truro
SINGLE FAM ILY
N EW L I ST I N GS
Q3 2022 24 (+33% YOY)
Q3 2021 18
M EDI A N SA L E PRI CE
Q3 2022 $1,611,000 (+13% YOY) Q3 2021 $1,425,000
Provincetown
SINGLE FAM ILY
N EW L I ST I N GS
Q3 2022 16 (+14% YOY)
Q3 2021 14
M EDI A N SA L E PRI CE
Q3 2022
$2,300,000 (+95% YOY)
Q3 2021 $1,175,000
AVERAGE DAYS ON M A RK ET
Q3 2022 22 (+10% YOY) Q3 2021 20
SOL D L I ST I N GS
Q3 2022 6 ( 62% YOY) Q3 2021 16
AVERAGE DAYS ON M A RK ET
Q3 2022 84 (+236% YOY) Q3 2021 25
SOL D L I ST I N GS
Q3 2022 8 (-38% YOY)
Q3 2021 13
Eastham
CONDOM INIUM S
AVERAGE DAYS ON M A RK ET
Q3 2022 4 (-42% YOY) Q3 2021 7
M EDI A N SA L E PRI CE
Q3 2022
$571,950 (+74% YOY) Q3 2021 $328,000
N EW L I ST I N GS Q3 2022 6 ( 14% YOY) Q3 2021 7
Q3 2022 55 (+150% YOY) Q3 2021 22
SOL D L I ST I N GS
Wellfleet
CONDOM INIUM S
N EW L I ST I N GS
Q3 2022 1(-83% YOY)
Q3 2021 6
M EDI A N SA L E PRI CE
Q3 2022
$525,000 (+59% YOY)
Q3 2021 $329,000
AVERAGE DAYS ON M A RK ET
Q3 2022 37 (-9% YOY) Q3 2021 41
SOL D L I ST I N GS
Q3 2022 5 (+66% YOY)
Q3 2021 3
Truro
CONDOM INIUM S
N EW L I ST I N GS
Q3 2022 7 (-58% YOY) Q3 2021 17
M EDI A N SA L E PRI CE
Q3 2022
$675,000 (+35% YOY) Q3 2021 $500,000
Provincetown
CONDOM INIUM S
N EW L I ST I N GS
Q3 2022 50 (-12% YOY) Q3 2021 57
M EDI A N SA L E PRI CE
Q3 2022
$862,000 (+25% YOY) Q3 2021 $687,000
AVERAGE DAYS ON M A RK ET
Q3 2022 12 (-78% YOY) Q3 2021 54
SOL D L I ST I N GS
Q3 2022 6 ( 53% YOY) Q3 2021 13
AVERAGE DAYS ON M A RK ET
Q3 2022 29 (-55% YOY) Q3 2021 64
SOL D L I ST I N GS
Q3 2022 39 (+30% YOY) Q3 2021 30
Brewster
2404 Main Street Brewster,MA 02631
Main Office:
Rental Office:
HarwichPort
587 Route 28
Harwich Port,MA
Main Office:
Rental Office:
Chatham
409 Main Street
Chatham,MA 02633
Main Office:
Rental Office:
Orleans
6 Route
Orleans,MA
Main Office:
Rental Office:
Dennis
563 Route 6A
Main Office:
Rental Office:
Provincetown
168 Commercial Street
Provincetown,MA
Main Office:
Rental Office:
