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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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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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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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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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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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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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
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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%
6.
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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