Market Report 2023 Q1

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My Market Report for Q1 2023. Features info on: Median Price, # Sales, $Dollar Volume, and Days On Market.

# of Sales at a 12 Year L O W

Plus a FORECAST For Q2

Click here to see the Video version of this report

Q1 2023 Cape Cod Market Report

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Hi! I’m Bill Silver. I’m a realtor with Cape Cod Associates Real Estate in lovely downtown Harwich Port.

Cape Cod Associates

Harwich Port, MA 508-432-8600

Median Sold Price - Q1 2023

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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 Q1 was $675 thousand dollars. Quarter-to-Quarter, the median sold price was DOWN -1.5% from the $685K in Q4. This is a small price Q1 DiP.

But prices really did continue to rise. Because, more importantly, Year-to-Year, the median sold price was UP 4% from the $649K in Q1 last year.

Cape Cod Associates

Harwich Port, MA 508-432-8600

Median Sold Price History

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Here are the Quarterly Median Sold Prices over the last 4 years. Since Q1 2020 the median sold price has gone UP 54%.

Starting in Q2 2016, the Year-to Year quarterly price has gone UP 28 quarters in a row. An overall increase of 97%.

Cape Cod Associates

Harwich Port, MA 508-432-8600

# Sales – Q1 2023

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The number of single-family homes sold in Barnstable County in Q1 was 535. This is a new record LOW for sales in Q1. Quarter - to - Quarter, Q1 Sales were DOWN 30.9% from the 774 sales in Q4.

Year – to – Year, sales were also down – 19.7% – from the 666 sales in Q1 last year.

Cape Cod Associates

Harwich Port, MA 508-432-8600

# Sold History

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Here. Here are the Number of Sales for each Quarter over the last 4 years. The 535 sales in Q1 were the lowest # of Sales in a quarter since the 529 sales in Q1 2011 – a span of 48 quarters.

The good news is that in all 4 years there was a Q1 DiP. So, we can reasonably expect that Q 2 sales will be higher than Q 1 .

Cape Cod Associates

Harwich Port, MA 508-432-8600

Dollar Volume – Q1 2023

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Dollar Volume is the total number of sales dollars for all sales in the quarter. The numbers shown are in Millions. The total number of dollars of all properties sold in Q1 was $496 Million dollars. Quarter - to - Quarter, the Dollar Volume in Q1 was DOWN 33% from the $741 million in Q4 2022.

Year – to – Year, the Dollar Volume in Q1 was also down. A drop of 17% from the $598 million in Q1 last year.

Cape Cod Associates

Harwich Port, MA 508-432-8600

Dollar Volume History

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Here are the Dollar Volume results for the last 4 years. The $496 Million total in Q1 2023 is the lowest Dollar Volume since the $474 Million in Q1 2020.

These numbers represent the Yearly Dollar Volume for the past three years. Note, these numbers represent Billions.

Cape Cod Associates

Harwich Port, MA 508-432-8600

Days On Market – Q1 2023

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The Median Days On Market for Q1 was 25 Days. Quarter-to-Quarter, this is a 56% increase over the 16 Days in Q4 last year.

Year-to-Year, this is a 150% increase over the 10 Days in Q1 last year.

Cape Cod Associates

Harwich Port, MA 508-432-8600

Cape Cod Associates

Harwich Port, MA 508-432-8600

Days On Market History

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Here are the median Days On Market results for the last 4 years. From the time Covid hit, Q1 2020, to only 5 quarters later, Q2 2021, the median Days On Market went from 69 to 6, an incredible drop of 87%.

Since Q2 2021 the median Days On Market has gone Up from 6 to 25, an overall increase of 417%. For an in-depth look at Cape Cod real estate Days On Market go to the Market page of my website: www.billsilvermarket.com

Cape Cod Associates

Harwich Port, MA 508-432-8600

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