- 2014 was a record year for the high-end $2,000,000+ market with 93 sales vs 69 in 2013 and the previous record of 92 sales in 2012.
- Inventories are tightening with 188 listings at year-end vs 215 at the end of 2013.
- Pent-up demand and a strong stock market have been fueling the market. Tightening inventories could drive up prices.
- Chatham is the high-end sales leader 2014 with 23 sales. Barnstable had 17 sales with 11 in Osterville.
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. In 2014, there were high-end sales in 13 of the 15 Cape Cod towns. These towns include: Barnstable (17, 11 in Osterville), Bourne (5), Brewster (1), Chatham (23), Dennis (6), Eastham (3), Falmouth (17), Harwich (4), Mashpee (6), Orleans (6), Provincetown (3), Truro (1), and Yarmouth (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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