- High-end $2,000,000+ sales in the first three quarters of 2014 were strong with 68 sales compared to 52 in the first three quarters of 2013.
- Inventories are high, especially at the higher end of the price range.
- Pent-up demand and a strong stock market are fueling the market, but excess inventory means sellers must compete for buyers.
- Chatham is the sales leader for the first three quarters of 2014 with 18 sales.
Starting around 2002 the high-end market on Cape Cod broadened as the perennial top markets were perceived as being too expensive and as buyers bid up the prices of special properties in other towns. For the first three quarters of 2014, there were high-end sales in 11 of the 15 Cape Cod towns. These towns include: Barnstable (13, 8 in Osterville), Bourne (5), Chatham (18), Dennis (4), Eastham (3),Falmouth 12),Harwich (2),Mashpee (5),Orleans (2), Provincetown (3), and Truro (1).
The LandVest High-End Market Watch is a periodic review of select high-end markets in Maine, Massachusetts, New Hampshire, Vermont and the Adirondacks. Market data are collected from Multiple Listing Services and do not include private listings. LandVest makes no representation as to the accuracy of the data and therefore is not responsible for any actions taken as a result of use of or reliance on this information.
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