Cape Cod Market Report 2021 Q2

First page 1 Next page Last page

Created by Bill Silver

Q2 2021 Report

Two Astounding New Records For Cape Cod Real Estate

To view this report as a VIDEO click this button



2 Q2 2021 Cape Cod Market Results

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

11 Records set in Q 2

Bill Silver

Cape Cod ARE

MLS Map of Q2 Sold Properties

Map

Cape Cod Associates

Harwich Port, MA 508-432-8600

Q2 2021 Cape Cod Market Results

Text

Hi! I’m Bill Silver. I am a realtor with Cape Cod Associates Real Estate in lovely downtown Harwich Port. The data for this report is for: Single Family Homes – in Barnstable County – listed on Cape Cod and Islands MLS.

Since COVID hit in Q1 2020 the Cape Cod Real Estate Market has been setting new records. Q2 2021 continues this trend with 11 new records. And two of them are especially ASTOUNDING . Let’s see the results.

Cape Cod Associates

Harwich Port, MA 508-432-8600

Median Days On Market

Cape Cod Associates RE

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

$600 K -

Record # 1 < 21 Q4 2021

$500 K -

$400 K -

$300 K -

$200 K -

$100 K -

-33 %

-36 %

2 %

-24 %

Q / Q

21 %

-37 %

2 %

21 %

14 %

-40 %

31 %

-75%

-6 %

4 %

-87%

4 %

-30 %

Y / Y

-18 %

-15 %

-16 %

1 %

-9 %

-10 %

-63 %

2 %

-65 %

Median Days On Market

Text

Days on Market is defined by Cape Cod and Islands MLS as the interval between the date a listing goes on the market (Status is ACTIVE) and the date the listing goes under agreement (Status is CONTIGENT). Going back to 2018 and 2019 the Days on Market results showed a consistent pattern. But in 2020 COVID radically changed that pattern into one of rapid decrease.

In Q2 the median Days on Market was down to an astounding 6 days – a 91% decrease from Q1 2020. This result of less than one week breaks the previous low record of 21 days set in Q4 2020. Note, the average Days on Market in Q2 was 30 days. This makes me think that there is a lot more we should know about Days on Market. I plan to publish soon a report dedicated to Days on Market.

Cape Cod Associates

Harwich Port, MA 508-432-8600

Median Sold Price – Q2 2021

Q/Q: Q1 - 21

Y/Y: Q2 - 20

$ 619 K

$ 590 K

$ 455 K

Record #2 > $590K – Q1 2021

Median Sold Price – Q2 2021

Text

Quarter-to-Quarter, the median sold price was UP 4.9% from the $590K in Q1. Year-to-Year, the median sold price was UP 36% from the $455K in Q2 last year.

The median sold price in Q2 was $619 thousand dollars. This is the highest median sold price in the history of Cape Cod real estate – and breaks the previous record just set in Q1.

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 -

$619

$590

$564

$500 K -

$530

$455

$400 K -

$439

$438

$435

$430

$425

$415

$405

$300 K -

$200 K -

$100 K -

5 %

1 %

Q / Q

-4 %

5 %

1 %

-5 %

-.7 %

4.6 %

4.9 %

17 %

-.1 %

1 %

6 %

21 Quarters

2 %

5 %

2 %

Y / Y

8 %

6 %

8 %

3 %

5 %

35.6 %

36 %

21 %

1 %

4 %

29 %

Median Sold Price History

Text

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 42%. Starting in Q1 2016, Year-to- Year quarterly prices have gone UP 21 quarters in a row.

Cape Cod Associates

Harwich Port, MA 508-432-8600

# Sales – Q2 2021

Q/Q: Q1 - 21

Y/Y: Q2 - 20

856

912

1,064

# Sales – Q2 2021

Text

The number of single-family homes sold in Barnstable County in Q2 was 1,064. Quarter - to - Quarter, Q2 Sales were UP 24.3% from the 856 sales in Q1.

Much more importantly, Year – to – Year, sales were UP 16.7% from the 912 in Q2 last year.

Cape Cod Associates

Harwich Port, MA 508-432-8600

More Q2 2021 Records

3.  DOM Q/Q % Decrease -75 %

Previous LOW % -40 % Q4-2020

4.  DOM Y/Y % Decrease -87 %

Previous LOW % -65 % Q1-2021

 Price Y/Y % Increase +36.0 % Previous High % +35.6 Q1-2021

 Median Price / SqFt $383 K Previous High

$355 K Q1-2021

 $SqFt % Y/Y Increase +29 % Previous High % +26 % Q1-2021

More Q2 2021 Records

Text

In Q2 Days on Market decreased 75% from Q1. This Quarter-to-Quarter decrease is almost double the previous record of 40% set in Q4 2020. In Q2 Days on Market decreased 87% from Q2 2020. This Year-to-Year decrease is higher than the previous record of 65% set in Q1. In Q2 the Median Sold Price increased by 36.0% from Q2

last year. This Year-to-Year price increase tops the previous record high of 35.6% set in Q1. In Q2 the Median Price per Square Foot of $383 K tops the previous record high of $355 K just set in Q1. The Price Per Square Foot Year-to-Year increase of 29% tops the previous high of 26% set in Q1.

Cape Cod Associates

Harwich Port, MA 508-432-8600

More Q2 2021 Records

8.  Building $/SqFt

$205 K

$186 K Q1-2021

Previous High

9.  B$/SqFt Y/Y % Inc.

+31% Previous High % +22% Q4-2020

 Sold $ / Final List $ +102.7 % Previous High % +100.0 Q1-2021

10.

 Sold $ / Orig. List $ +102.9 % Previous High % +99.7 % Q1-2021

11.

More Q2 2021 Records

Text

In Q2 the Building Only Price per Square Foot was $205 K . This is a new all-time high – replacing the $186K result in Q1 2021. The Year-to-Year increase of 31% for the Building Only Price Per Square Foot is also a new high, replacing the previous high of 22% in Q1 2021.

The Ratio of Sold Price vs. Final List Price was 102.7%. This is the first time ever that this ratio was greater than $100%. It replaces the previous high of 100.0 % in Q1. The Ratio of Sold Price vs. Original List Price was 102.9%. This is also the first time that this ration was greater than 100%. It replaces the high of 99.7 % in Q1.

Cape Cod Associates

Harwich Port, MA 508-432-8600

Q2 2021 Cape Cod Market Report

That’s my Market Report for Q2 2021 . Thanks for watching.

For all my Cape Cod Market Reports, Real Estate Guide, and Cape Cod Lifestyle Info go to:

Follow me on FaceBook and LinkedIn

See my videos on my YouTube channel:

B ~ i ! l # l S $ i % l ^ v & e * r x . x C x o x m

Bill Silver Cape Cod

Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17

Made with FlippingBook - professional solution for displaying marketing and sales documents online