Cape Cod Q2 2022 Market Report

Q2 2022

CAPE COD

Market Report

P R E S E N T E D B Y PA U L E . G R O V E R

Welcome to the 2022 Second Quarter Cape Cod Market Report If there was one word to describe the

across the country, we can be certain

economic outlook as we move into the

that luxury property on Cape Cod is

third quarter of the year, it would most

extremely finite and the lifestyle that it

likely be uncertainty.

offers is as desirable as ever.

Afterall, we have all read the headlines.

More than ever, it is important to have

Like other markets, the real estate

a real estate broker with the knowledge

market is indeed changing and,

and expertise to advise you through

currently, we are seeing a needed

these changing conditions. It is my hope

return to more balanced conditions in

that this report helps to provide clarity

many areas.

and leaves you feeling more confident in your understanding of the current

What is certain is that the Cape Cod

market. Should you have any questions

market remained strong through the

about the market or wish to learn more,

end of the second quarter, as you will

I am always available as a resource to

see in this report. In particular, the

you and your family.

luxury sector (defined as $2 million and above) had an impressive showing with transactions up nearly 50% compared to the first quarter. Transactions above $5 million were up 67%.

Paul E. Grover, Principal Broker

While the uncertainty that we face today - one rooted in social and economic concerns - is very different from that of two years ago, perhaps it is one of the key forces that continues of Cape Cod. Like Palm Beach, the

$175M+

Hamptons, and other premier markets

2021 SALES VOLUME

to drive high-end buyers to the shores

PA U L E . G R O V E R P R I N I C I PA L B R O K E R

$4.06M+

$1.5B+

2 0 2 1 AV E R A G E S A L E P R I C E

CAREER SALES VOLUME

Cape Cod

Luxury Market Summary

835 Sea View Osterville, Massachusetts

RESIDENTIAL, $2M+ Q2 2022

% Δ (QTR)

Q1 2022

% Δ (YR)

Q2 2021

$2,000,000 - $2,999,999

46

CARET-UP 35.3%

34

CARET-DOWN 25.8%

62

$3,000,000 - $3,999,999

27

CARET-UP 68.8%

16

CARET-UP 42.1%

19

$4,000,000 - $4,999,999

12

CARET-UP 100%

6

CARET-UP 20%

10

$5,000,000+

29

CARET-UP 20.8%

24

CARET-UP 3.6%

28

114

CARET-UP 42.5%

80

CARET-DOWN 4.2%

119

Q2 2022

% Δ (QTR)

Q1 2022

% Δ (YR)

Q2 2021

$2,000,000 - $2,999,999

30

CARET-DOWN 3.2%

31

CARET-UP 3.4%

29

$3,000,000 - $3,999,999

17

CARET-UP 21.4%

14

CARET-UP 21.4%

14

$4,000,000 - $4,999,999

4

0%

4

CARET-DOWN 33.3%

6

$5,000,000+

10

CARET-UP 42.9%

7

CARET-UP 11.1%

9

Total

61

CARET-UP 8.9%

56

CARET-UP 5.2%

58

Sold

Q2 2022

% Δ (QTR)

Q1 2022

% Δ (YR)

Q2 2021

$2,000,000 - $2,999,999

37

CARET-UP 60.9%

23

CARET-UP 8.8%

34

$3,000,000 - $3,999,999

18

CARET-UP 38.5%

13

CARET-UP 20%

15

$4,000,000 - $4,999,999

2

CARET-DOWN 33.3%

3

CARET-DOWN 60%

5

$5,000,000+

10

CARET-UP 67%

6

CARET-UP 42.9%

7

Total

67

CARET-UP 48.9%

45

CARET-UP 9.8%

61

Active

Total

Pending

All data from the Cape Cod and Islands Association of REALTORS ®

78 Triton Way New Seabury, Massachusetts

Upper Cape | Mid Cape | Lower Cape | Outer Cape

Cape Cod K E Y TA K E A W AY S

CARET-UP18.1% Median Sale Price YOY

867

$13.75M

# of Homes Sold Q2

Highest Sale

S I N G L E FA M I LY H O M E S

Q2 2022

% Δ (QTR)

Q1 2022

% Δ (YR)

Q2 2021

New Listings

1284

CARET-UP 67.6%

766

CARET-DOWN 12.3%

1464

Pending Sales

1006

CARET-UP 40.7%

715

CARET-DOWN 13.2%

1159

867

CARET-UP 30.8%

663

CARET-DOWN 18.7%

1067

$727,869

CARET-UP 12%

$650,000

CARET-UP 18.1%

$616,233

Inventory of Homes for Sale

504

CARET-UP 83.9%

274

CARET-DOWN 9.4%

556

Months Supply of Inventory

1.6

CARET-UP 100%

0.8

CARET-UP 23.1%

1.3

Cape Cod

Closed Sales

Median Sales Price

All data from the Cape Cod and Islands Association of REALTORS ®

Sandwich | Bourne | Mashpee | Falmouth

Upper Cape K E Y TA K E A W AY S

CARET-UP18.9% Median Sale Price YOY

267

$9.3M

# of Homes Sold Q2

Highest Sale

S I N G L E FA M I LY H O M E S

Q2 2022

% Δ (QTR)

Q1 2022

% Δ (YR)

Q2 2021

New Listings

384

CARET-UP 26.7%

303

CARET-DOWN 19.3%

476

Pending Sales

300

CARET-UP 14.1%

263

CARET-DOWN 18.7%

369

Closed Sales

267

CARET-UP 23.6%

216

CARET-DOWN 27.8%

370

$733,775

CARET-UP 16.4%

$630,567

CARET-UP 18.9%

$617,119

Inventory of Homes for Sale

190

CARET-UP 79.2%

106

CARET-UP 1.1%

188

Months Supply of Inventory

1.9

CARET-UP 72.7%

1.1

CARET-UP 26.7%

1.5

Upper Cape

Median Sales Price

All data from the Cape Cod and Islands Association of REALTORS ®

Barnstable | Dennis | Yarmouth

Mid Cape K E Y TA K E A W AY S

CARET-DOWN 35.8%

$650K

$13.75M

New Listings YOY

Median Sales Price

Highest Sale

S I N G L E FA M I LY H O M E S

Q2 2022

% Δ (QTR)

Q1 2022

% Δ (YR)

Q2 2021

New Listings

393

CARET-UP 24.8%

315

CARET-DOWN 35.8%

612

Pending Sales

341

CARET-UP 13.7%

300

CARET-DOWN 31.3%

496

Closed Sales

305

CARET-UP 7%

285

CARET-DOWN 28.2%

425

$650,200

CARET-UP 12.2%

$579,635

CARET-UP 15.8%

$561,573

Inventory of Homes for Sale

183

CARET-UP 71%

107

CARET-DOWN 16.1%

218

Months Supply of Inventory

1.4

CARET-UP 75%

0.8

CARET-UP 7.7%

1.3

Mid Cape

Median Sales Price

All data from the Cape Cod and Islands Association of REALTORS ®

Chatham | Orleans | Brewster | Harwich

Lower Cape K E Y TA K E A W AY S

CARET-UP 88.9%

$1.12M

Inventory for Sale QOQ

Median Sales Price

$7.28M Highest Sale

S I N G L E FA M I LY H O M E S

Q2 2022

% Δ (QTR)

Q1 2022

% Δ (YR)

Q2 2021

New Listings

217

CARET-UP 106.7%

105

CARET-DOWN 18.7%

267

Pending Sales

174

CARET-UP 59.6%

109

CARET-DOWN 16.7%

209

Closed Sales

141

CARET-UP 24.8%

113

CARET-DOWN 22.1%

181

$1,115,991

CARET-UP 23.7%

$901,814

CARET-UP 16.1%

$961,207

Inventory of Homes for Sale

85

CARET-UP 88.9%

45

CARET-DOWN 19.8%

106

Months Supply of Inventory

1.6

CARET-UP 77.8%

0.9

CARET-UP 33.3%

1.2

Lower Cape

Median Sales Price

All data from the Cape Cod and Islands Association of REALTORS ®

Provincetown | Truro | Wellfleet | Eastham

Outer Cape K E Y TA K E A W AY S

CARET-UP109.3% New Listings QOQ

$1.16M

$3.98M

Median Sales Price

Highest Sale

S I N G L E FA M I LY H O M E S

Q2 2022

% Δ (QTR)

Q1 2022

% Δ (YR)

Q2 2021

New Listings

90

CARET-UP 109.3%

43

CARET-DOWN 13.5%

104

Pending Sales

60

CARET-UP 39.5%

43

CARET-DOWN 27.7%

83

Closed Sales

50

CARET-UP 2%

49

CARET-DOWN 45.1%

91

$1,159,505

CARET-UP 9%

$1,063,752

CARET-UP 19.5%

$970,143

Inventory of Homes for Sale

46

CARET-UP 187.5%

16

CARET-UP 4.5%

44

Months Supply of Inventory

2.2

CARET-UP 214.3%

0.7

CARET-UP 46.7%

1.5

Outer Cape

Median Sales Price

All data from the Cape Cod and Islands Association of REALTORS ®

An Elevated Real Estate Experience 867 Main Street

140 Newbury Street

(508) 364-3500

Osterville, MA 02655

Boston, MA 02116

pgrover@robertpaul.com

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