Cape Cod | Massachusetts High-End Market Watch, Year End 2017

Market Highlights

Inventory down 9% (182 vs 201 last year).
Sales down slightly (95 vs record 98 last year).
Top sale: $14,000,000. 26 Neel Road, Harwich Port.
Special properties, expertly presented, reaching out to a broad market with a strong value proposition, are well received by the market.

Active Listings

On Cape Cod, Massachusetts, in 2017, the year end inventory of high-end listings decreased by 9% to 182 listings compared to 201 last year and the record of 232 listings in 2015. On average, since 2008 there have been 197 listings at year end.

High-End Sales

Sales were down slightly in 2017 (95), compared to the all-time record last year of 98 sales. On average, since 2008 there have been 76 sales at year end.

2017 – Top Sale

Property: 26 Neel Road • Town: Harwich Port • Selling price: $14,000,000

Waterfront property with two parcels on 6.4 acres and 616 ft of sandy beach. House and carriage house with potential for an additional residence. Per MLS, second highest sale ever on Cape Cod.

Highest & Median Sale

Days on Market

Days on market for high-end sales increased significantly to 431 from 374 last year and were also above the average from 2008-2017 of 363. The range is remarkably wide with sales occurring in 1 day to more than 6 years.

Sales by Town

In 2017, 14 of the 15 towns on Cape Cod had sales at the $2,000,000+ level. Barnstable led with 23 sales, of which 14 were in Osterville. This compared well to last year: 23 sales, 26 in 2015, and a 10-year average of 20 sales. Chatham followed with 14 sales, down from 24 last year. Falmouth had 12 sales vs 13 last year. Provincetown was very active this year, with 10 sales vs an average of 3 sales over the past 10 years.