The supply and demand imbalance still favors sellers.”

After a record-breaking year for $10 million-plus properties in 2021, we saw a pull back in 2022 primarily due to a lack of inventory. However, transactions still were markedly higher than pre-covid levels. While we don’t expect interest rates to be a factor on the upper end of the market as most buyers are cash buyers, the continued political and economic uncertainty seems to have high-end buyers taking pause at the outset of 2023. The supply and demand imbalance still favors sellers with only four properties priced over $10 million actively for sale on all of Cape Cod.”

Chris Rhinesmith