Cape Cod Market Report 2020 Q3 FB

Created by Bill Silver

Q 3 2020 Results

The greatest quarter ever for

Cape Cod Real Estate

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Cape Cod Associates

© Bill Silver 2020 Realtor® Cell: 508-277-1000 Bill@BillSilver.com

Harwich Port, MA 508-432-8600

2 Q3 2020 Cape Cod Market Results

Single Family Homes in Barnstable County

13 New Records

set in Q3

To see the VIDEO

CLICK

Bill Silver

Cape Cod ARE

Cape Cod Associates

© Bill Silver 2020 Realtor® Cell: 508-277-1000 Bill@BillSilver.com

Harwich Port, MA 508-432-8600

Q3 2020 Cape CodMarket Results

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Text

Hi! I’m Bill Silver. I am a realtor with Cape Cod Associates Real Estate in lovely downtown Harwich Port. Q2 results were amazing. But, Q3 blew the roof off the Cape Cod real estate market, setting 13 new records. This symbol indicates a new record.

You will see them all in this report – with a summary at the end. I hope you think it’s useful. This report is also available as a Video. To watch it Click the VIDEO button.

Cape Cod Associates

© Bill Silver 2020 Realtor® Cell: 508-277-1000 Bill@BillSilver.com

Harwich Port, MA 508-432-8600

Median Sold Price – Q 3 2020

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Single Family Homes | In Barnstable County | Listed on CC&I MLS

Q/Q: Q2 - 20

Y/Y: Q3 - 19

$ 530 K

$ 455 K

$ 439 K

Cape Cod Associates

© Bill Silver 2020 Realtor® Cell: 508-277-1000 Bill@BillSilver.com

Harwich Port, MA 508-432-8600

Median Sold Price – Q2 2020

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Text

The data for this report is for: Single Family Homes – in Barnstable County – listed on Cape Cod and Islands MLS. The median sold price in Q3 was $530 thousand dollars, the highest median sold price in the history of Cape Cod, and the first time the median price topped $500,000.

Quarter-to-Quarter, the median sold price was UP 17% from the $455K in Q2. This is the highest quarterly increase ever. Year-to-Year, the median sold price was also UP 21% from the $439K in Q3 last year. This is the highest yearly increase since Q3 2002.

Cape Cod Associates

© Bill Silver 2020 Realtor® Cell: 508-277-1000 Bill@BillSilver.com

Harwich Port, MA 508-432-8600

Median Sold Price History

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$ K 600

530

435 439

420

407 419

397 397

380 388

365

358

350 358

335 419 335

HIGH Quarter of each Year

Q4 04

Q4 05

Q2 06

Q3 07

Q1 08

Q4 09

Q3 10

Q4 11

Q4 12

Q3 13

Q4 14

Q4 15

Q4 16

Q4 17

Q4 18

Q3 19

Q3 20

Cape Cod Associates

© Bill Silver 2020 Realtor® Cell: 508-277-1000 Bill@BillSilver.com

Harwich Port, MA 508-432-8600

Median Sold Price History HIGH Quarter of Each Year

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Text

Here are the Quarterly High Median Sold Prices over the last 17 years. By far, the most frequent high quarter was Q4.

Since the previous low quarter in Q4 2011 the Median Sold Price has gone UP 58%.

Cape Cod Associates

© Bill Silver 2020 Realtor® Cell: 508-277-1000 Bill@BillSilver.com

Harwich Port, MA 508-432-8600

# Sales – Q 3 2020

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Single Family Homes | In Barnstable County | Listed on CC&I MLS

Q/Q: Q2 - 19

Y/Y: Q3 - 18

912

1,074

1,666

Cape Cod Associates

© Bill Silver 2020 Realtor® Cell: 508-277-1000 Bill@BillSilver.com

Harwich Port, MA 508-432-8600

# Sales – Q3 2020

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The number of single-family homes sold in Barnstable County in Q3 was 1,666 . It is the most sales in one quarter in the history of Cape Cod real estate. A giant leap up from the previous high of 1,447 in Q2 1999.

Quarter - to - Quarter, Q3 Sales were UP 88% from the 912 sales in Q2. This is the highest Quarter – to – Quarter increase since the 93% in Q3 2016. Year – to – Year, sales were UP 55% from the 1,074 in Q3 last year. This is another record – topping the 45% increase in Q2 2010.

Cape Cod Associates

© Bill Silver 2020 Realtor® Cell: 508-277-1000 Bill@BillSilver.com

Harwich Port, MA 508-432-8600

# Sold History

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1,700

1,666

1,364

1,291

1,228

1,220

1,210

1,175

1,121

1,103

1,090

1,048

982

973 992

907

860

849

HIGH Quarter of each Year

Q2 04

Q2 05

Q2 06

Q2 07

Q2 08

Q4 09

Q2 10

Q2 11

Q2 12

Q2 13

Q2 14

Q3 15

Q2 16

Q2 17

Q2 18

Q2 19

Q3 20

Cape Cod Associates

© Bill Silver 2020 Realtor® Cell: 508-277-1000 Bill@BillSilver.com

Harwich Port, MA 508-432-8600

# Sold History

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Here are the Number of Sales for the High Quarter for each of the last 17 Years . Since the previous LOW {High Quarter} in Q3 2011 the Number of Sales has gone UP 196%.

Cape Cod Associates

© Bill Silver 2020 Realtor® Cell: 508-277-1000 Bill@BillSilver.com

Harwich Port, MA 508-432-8600

Dollar Volume (Millions)

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Single Family Homes | In Barnstable County | Listed on CC&I MLS

Q/Q: Q2 - 20

Y/Y: Q3 - 19

$ 1,260 M

$ 436 M

$ 662 M

Cape Cod Associates

© Bill Silver 2020 Realtor® Cell: 508-277-1000 Bill@BillSilver.com

Harwich Port, MA 508-432-8600

Dollar Volume (Millions)

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Dollar Volume is the number of dollars sold. It’s the sum of the sold price for all the sales in the quarter. The Dollar Volume for Cape Cod real estate in Q3 was 1 Billion, 260 Million Dollars – an all-time high. It is the first time any quarter has had more than a Billion dollars in sales.

Quarter – to – Quarter, Q3 was up an amazing, record setting 189% from the $436 million in Q2. Year – to – Year, Q3 was Up 90% from the $662 million in Q3 last year. This was another record result.

Cape Cod Associates

© Bill Silver 2020 Realtor® Cell: 508-277-1000 Bill@BillSilver.com

Harwich Port, MA 508-432-8600

© Bill Silver 2020 Cape Cod Associates RE

Dollar Volume (Millions)

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$1,300

1,260

22 Year History (Highest Quarter)

736

683 666 679

647 638

581

566

552 558

542

525

501

466

460

437

396

392

369 355

329

Q1 09

Q2 00

Q3 01

Q2 02

Q3 03

Q2 04

Q2 05

Q2 06

Q2 07

Q2 08

Q4 09

Q2 10

Q3 11

Q4 12

Q2 13

Q2 14

Q4 15

Q2 16

Q2 17

Q2 18

Q2 19

Q3 20

Dollar Volume History

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Text

Here are the Quarterly High Dollar Volumes over the last 22 years. By far, the most frequent high quarter was Q2 .

Since the previous LOW Quarterly High in Q3 2011 the Dollar Volume has gone UP 321%.

Cape Cod Associates

© Bill Silver 2020 Realtor® Cell: 508-277-1000 Bill@BillSilver.com

Harwich Port, MA 508-432-8600

© Bill Silver 2020 Cape Cod Associates RE

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Living Area ( SqFt) HIGH Quarter of each Year

1,

7

7

0

1,

1,

1,

6

1,

6

6

1,

7 4 1, 6

6

7

1,

1,

6

6

1,

5

3

1,

6

6

1,

4

4

6

6

6

3

3

6

1,

7

3

3

2

8

8

1,

2

6

2

1,

0

8

5

0

0

5

9

5

8

1,

2

7

5

1,

5

5

7

4

0

Q4 04

Q2 05

Q2 06

Q3 07

Q1 08

Q4 09

Q4 10

Q4 11

Q2 12

Q4 13

Q4 14

Q2 15

Q4 16

Q4 17

Q3 18

Q2 19

Q3 20

Living Area (SqFt)

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Text

Here are the Square Foot High Quarters for the last 17 years. The 1,770 Square Feet in this Q3 is a Record high. Each quarter was the high quarter at least once. The most frequent high quarter was Q4.

You can see that houses on Cape Cod have quite steadily gotten larger. In the period between Q4 2004 and Q3 2020 the median size of a sold house increased by 15%.

Cape Cod Associates

© Bill Silver 2020 Realtor® Cell: 508-277-1000 Bill@BillSilver.com

Harwich Port, MA 508-432-8600

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Price per Square Foot

$350 K

$ 315

$ 288

$ 284

$ 278

$ 277

$ 270

$ 264

$ 264

$ 252

$ 242

$ 241

$ 238

$ 227

$ 223

$ 220

$ 220

$ 214

HIGH Quarter of each Year

Q3 04

Q4 05

Q2 06

Q2 07

Q1 08

Q4 09

Q4 10

Q2 11

Q4 12

Q2 13

Q4 14

Q4 15

Q4 16

Q3 17

Q3 18

Q4 19

Q3 20

© Bill Silver 2020 Cape Cod Associates

Price per Square Foot

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Text

Here are the High Quarter, Median Sold Price per Square Foot results for the last 17 years. The 315 dollars per Square Foot result in Q3 is another Record high.

The previous high was the 296 dollars per Square Foot set just three months ago in Q2. Each quarter was the high quarter at least once. Q4 was the most frequent high quarter.

Cape Cod Associates

© Bill Silver 2020 Realtor® Cell: 508-277-1000 Bill@BillSilver.com

Harwich Port, MA 508-432-8600

Days On Market The LOW Quarter of Each Year

© Bill Silver 2020

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Cape Cod Associates

100 %

96

94

93

92

91

88

87

82 83

73 73

69

55

51

49

47

Distribution of LOW Quarters

1

2

3

4

35

0

8

9

0

0 %

47 %

53 %

0 %

04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20

Days on Market

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Text

Days on Market is calculated as the number of days between the time a listing goes Active

The 35 days in Q3 is a new Record LOW . This replaces the previous low record of 46 days just set in Q2 this year. The distribution of the LOW quarters shows a pattern of faster sales for homes listed in Q3 and Q2.

and when it goes Under Contact (or Pending).

This chart shows the quarter with the LOWEST Days on Market for the last 17 years .

List vs. Sold Price %

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100 %

SOLD $ 39% of all sales in Q3 were AT or ABOVE the Final List Price!

98.3 %

97.8 %

97.7 % 97.7 %

LIST $

97.5 %

97.4 %

97.4%

96.8 %

96.8 %

96.7 %

96.7 % 96.7 %

96.6 %

96.3 %

96.1 % 96.2 %

96.0 %

95.7 %

%

95.3 %

95.3 %

95.3 %

95.1 % 95.3

95.1 %

95.0 %

94.5 %

94.4 %

94.3 %

93.3 %

92.7 %

92.4 %

92.1 %

91.7 %

91.3 %

90 %

20 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19

© Bill Silver 2020 Cape Cod Associates

List vs. Sold Price %

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Text

This important Real Estate Ratio is the Sold Price divided by the List Price. There are two cases: Original List Price and Final List Price. For both you will see the High Quarter for each year. Here are the Original List Price ratios for the last 17

years. The 97.4% in Q3 is a Record . It tops the previous high of 96.8% in Q3 2018 . Here are the Final List Price ratios for the last 17 years. The 98.3% in Q3 is also a new Record high. It beats the previous high of 97.8% set just last quarter.

Special Note: 39% of all sales in Q3 were AT or ABOVE Final List Price!

Cape Cod Associates

© Bill Silver 2020 Realtor® Cell: 508-277-1000 Bill@BillSilver.com

Harwich Port, MA 508-432-8600

Q3 Inventory

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Single Family Homes | In Barnstable County | Listed on CC&I MLS

Q/Q: Q2 - 20

Y/Y: Q3 - 19

1,377

1,204

1,950

Q2

Q3

Q4

Q1

Q2

Q3

Cape Cod Associates

© Bill Silver 2020 Realtor® Cell: 508-277-1000 Bill@BillSilver.com

Harwich Port, MA 508-432-8600

Q3 Inventory

13

Text

Single Family Homes | In Barnstable County | Listed on CC&I MLS

The Inventory at the End of Q3 was 1,377. This was not a record but is included in this report because it is important market data. Quarter-to-Quarter, Inventory was UP 14% from the 1,204 in Q2.

Year-to-Year, Inventory was DOWN 29% from the 1,950 in Q3 last year. After going DOWN for 4 quarters in a row, Inventory has now gone UP in each of the last 2 quarters.

Summary of Q3 2020 Records

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7. $ Vol Yr. – Yr. % 90%

1. Median Sold Price $530,000

2. Price Qtr. – Qtr. % 17%

8. Living Area (SqFt) 1,770

3. Number of Sales 1,666

9. Price per SqFt $315

4. # Sales Yr. – Yr. % 55%

10. Days on Market 35 (New Low)

5. Dollar Volume $1,260,429,428

11. Sold/List % (Orig.) 97.4%

$ Vol Qtr. – Qtr. % 189%

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12. Sold/List % (Final) 98.3%

13. # New Records 13

Q2 2020 Cape Cod Market Report

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Bill Silver Cape Cod

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Cape Cod Associates

© Bill Silver 2020 Realtor® Cell: 508-277-1000 Bill@BillSilver.com

Harwich Port, MA 508-432-8600

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