Cape Cod Market Report 2021 Q1

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Created by Bill Silver

Q1 2021 Report

Yes, Another Record-Breaking Quarter for Cape Cod Real Estate

Cape Cod Associates

Harwich Port, MA 508-432-8600

2 Q1 2021 Cape Cod Market Results

“ Only ” 8

New Records set in Q 1



Bill Silver

Cape Cod ARE

Cape Cod Associates

Harwich Port, MA 508-432-8600

Q1 2021 Cape Cod Market Results

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Hi! I’m Bill Silver. I am a realtor with Cape Cod Associates Real Estate in downtown Harwich Port. Q4 blew the roof off the Cape Cod real estate market

setting 16 records. Q1 was, again, a very strong quarter, even if it only set 8 records. Let’s see the results.

To view this report as a video click this button 

Cape Cod Associates

Harwich Port, MA 508-432-8600

Median Sold Price – Q1 2021

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

Q/Q: Q4 - 20

Y/Y: Q1 - 20

$ 590 K

$ 564 K

$ 435 K

Cape Cod Associates

Harwich Port, MA 508-432-8600

Median Sold Price – Q1 2021

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Cod real estate – and breaks the record just set in Q4. Quarter-to-Quarter, the median sold price was UP 4.6% from the $564K in Q4. Year-to-Year, the median sold price was UP 35.6% from the $435K in Q1 last year.

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 $590 thousand dollars. This is the highest median sold price in the history of Cape

Cape Cod Associates

Harwich Port, MA 508-432-8600

Median Sold Price History

Cape Cod Associates

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2018 2019 2020 2021 Q4

$600 K -

$590

$564

$500 K -

$530

$455

$439

$438

$435

$430

$400 K -

$425

$415

$405

$300 K -

$200 K -

$100 K -

5 %

1 %

17 %

Q / Q

-4 %

5 %

1 %

-5 %

-.7 %

4.6 %

-.1 %

6 %

1 %

2 %

5 %

2 %

21 %

Y / Y

8 %

6 %

8 %

3 %

5 %

36 %

1 %

29 %

4 %

20 Quarters

Median Sold Price History

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Here are the Quarterly Median Sold Prices over the last 4 years. This visual makes it easier to grasp how steeply Cape Cod home prices have gone up in the time of COVID.

Since Q1 2020 the median sold price has gone UP 36%. Starting in Q1 2016, Year-to- Year quarterly prices have gone UP 20 quarters in a row.

Cape Cod Associates

Harwich Port, MA 508-432-8600

# Sales – Q 1 2021

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

Q/Q: Q4 - 20

Y/Y: Q1 - 20

1,524

775

856

Cape Cod Associates

Harwich Port, MA 508-432-8600

Sales – Q 1 2021

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The number of single-family homes sold in Barnstable County in Q1 was 856. This is a new record for sales in Q1. Quarter - to - Quarter, Q1 Sales were DOWN 44% from the 1,524 sales in Q4. This is

largest quarter-to-quarter decrease in sales in the history of Cape Cod real estate. More importantly, Year – to – Year, sales were UP 10.5% from the 775 in Q1 last year.

Cape Cod Associates

Harwich Port, MA 508-432-8600

# Sold History

Cape Cod Associates

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q2 2018 2019 2020 2021 4

1,700 -

1,666

1,500 -

1,524

Q1 DiP

1,300 -

Q1 DiP

1,210

Q1 DiP

1,100 -

1,175

Q1 DiP

1,084

1,074

1,073

900 -

912

856

700 -

775

729

705

500 -

300 -

-33 %

67 %

-8 %

0 %

-33 %

66 %

-11 %

-0.1 %

-28 %

-44 %

18 %

83%

-9 %

Q / Q

Y / Y

-12 %

-4 %

-2 %

2.8 %

3 %

-1 %

6 %

10 %

-25 %

55 %

42 %

# Sold History

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Here are the Number of Sales for each Quarter over the last 4 years. This visual shows how COVID caused sales to boomerang UP in Q3 and Q4. Even with the record number of sales in Q1 we still had the ever-present Q1Dip: 100% of the time sales go: DOWN in Q1 and UP in Q2. If quarterly sales on Cape Cod are not UP in Q2 it will be the first time ever.

Cape Cod Associates

Harwich Port, MA 508-432-8600

Q1 2021 Records

 Median Price

$590 K

$564 K Q4-2020

Previous High

 QQ Sales % Drop -44 %

Previous LOW

-37 % Q1-2014

 Q1 Dollar Volume $739 M Previous High

$474 M Q1-2020

4.  DOM YY % Drop -65 %

Previous LOW -63 % Q4-2020

Cape Cod Associates

Harwich Port, MA 508-432-8600

Q1 2021 Records

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Here is a brief description of the records set in Q1 2021. They give us added insight into how much COVID has affected our real estate market.

(1) The Q1 median sold price of $590 K was a new high, breaking the old record of $564 K just set in Q4. (2) The 44% decrease in the number of sales was the largest Quarter-to- Quarter decrease ever. The previous record was the 37% Quarter-to- Quarter decrease in Q1 2014.

(3) Dollar Volume is the total price of all the houses sold in the Quarter. The $739 Million dollars sold in Q1 is the highest Q1 Dollar Volume ever. It tops the previous record of $474 Million sold in Q1 last year. (4) The 65% Year-to-Year decrease in Days on Market is the largest since the 63% decrease in Q4.

Cape Cod Associates

Harwich Port, MA 508-432-8600

Q1 2021 Records

5.  Price per SqFt

$355

Previous High

$340 Q4 2020

6.  Price per SqFt House $186

Previous High

$164 Q4 2020

7.  % S old $ / O List $

99.7% 99.4% Q4 2020

Previous High

8.  % S old $ / F List $

100%

Previous High

100% Q4 2020

Cape Cod Associates

Harwich Port, MA 508-432-8600

Q1 2021 Records

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(5) The Q1 Price per Square Foot of $355 Dollars was a record high. The Quarterly, Year-to-Year Price per Square Foot has now gone UP 20 Quarters in a row. (6) The Q1 Price per Square Foot of the House itself was $186 Dollars - a new high. This metric has now gone UP 38 Quarters in a row.

(7) The ratio of Sold Price divided by Original List Price was 99.7%. This tops the previous record of 99.4% set in Q4 last year. ( 8) The ratio of Sold Price divided by the Final List Price was 100%. This ties the previous record of 100% set in Q4 last year.

Cape Cod Associates

Harwich Port, MA 508-432-8600

Q1 2021 Cape Cod Market Report

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Bill Silver Cape Cod

Cape Cod Associates

Harwich Port, MA 508-432-8600

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