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