Q1 2023 Market Report - Cape Cod

Market Insights

CAPE COD

A L ET T ER FROM OUR ChiefExecutiveOfficer

No matter the market, one thing that stays steady is the expertise of our associates.

Throughout my more than 20-year career in the industry, I?ve learned that change in real estate is constant.

Gibson Sotheby?s International Realty was born in 2006, a time when the future of real estate was uncertain, and we grew to become the market leader in spite of that When the pandemic spread to alter nearly every facet of life, helping our clients safely live their best and fullest lives guided everything we did. Today? as interest rates climb and inventory is lacking? we face similar questions: Do we rise to the occasion? Or do we surrender to the challenge?

Our associates are always adapting, persevering, and providing crucial support and compassion to the thousands of people who need to make a move this year. That?s nothing new And in shifting markets, that?s one thing that will never change There has never been a better time to work with a trusted real estate professional,and we?re ready to guide you with the highest levels of experience,stability,and expertise

Colleen Barry, CEO

Gibson Sotheby's International Realty

Nicole Rideout Hartwick Chief Strategy Officer

Gibson Sotheby?s International Realty

Family values and a culture of support are essential to our company ethos

Relationshipsareat theveryheart ofourbusiness.Theyalwayshave been,andtheyalwayswillbe.

UpperCape

SINGLE FAM ILY

L I ST I N GS TA K EN

Q12023

229 (-6% YOY)

Q12022

305

AVERAGE DAYS ON M A RK ET

Q12023

50 (+61% YOY)

Q12022

31

M EDI A N SA L E PRI CE

Q12023

$699,500 (+11% YOY)

Q12022

$625,000

SOL D L I ST I N GS

Q12023

192 (-12% YOY)

Q12022

219

39 Shorewood Drive, Falmouth

Source: CCIMLS For the purpose of this report,Upper Cape includes Bourne,Falmouth,Mashpee,Sandwich

Bourne

SINGLE FAM ILY

N EW L I ST I N GS

Q12023

28 (-22% YOY)

Q12022 36

M EDI A N SA L E PRI CE

Q12023

$575,938 (+2% YOY)

Q12022

$562,500

Falmouth

SINGLE FAM ILY

N EW L I ST I N GS

Q12023

84 (-28% YOY)

Q12022 117

M EDI A N SA L E PRI CE

Q12023

$690,000 (+2% YOY)

Q12022

$670,000

AVERAGE DAYS ON M A RK ET

Q12023

75 (+200% YOY)

Q12022 25

SOL D L I ST I N GS

Q12023

26 (-38% YOY)

Q12022 42

AVERAGE DAYS ON M A RK ET

Q12023

43 (+34% YOY)

Q12022 32

SOL D L I ST I N GS

Q12023

81(-2% YOY)

Q12022 83

Mashpee

SINGLE FAM ILY

N EW L I ST I N GS

Q12023

56 (-34% YOY)

Q12022 86

M EDI A N SA L E PRI CE

Q12023

$899,500 (+23% YOY)

Q12022

$730,000

Sandwich

SINGLE FAM ILY

N EW L I ST I N GS

Q12023

61(-7% YOY)

Q12022 66

M EDI A N SA L E PRI CE

Q12023

$695,000 (+22% YOY)

Q12022

$567,500

AVERAGE DAYS ON M A RK ET

Q12023

56 (+40% YOY)

Q12022 40

SOL D L I ST I N GS

Q12023 38 (-11% YOY)

Q12022 43

AVERAGE DAYS ON M A RK ET

Q12023

42 (+75% YOY)

Q12022 24

SOL D L I ST I N GS

Q12023

47 (-7% YOY)

Q12022 51

Source: CCIMLS

UpperCape

CONDOM INIUM S

N EW L I ST I N GS

Q12023

57 (-22% YOY)

Q12022 74

AVERAGE DAYS ON M A RK ET

Q12023

42 (+7% YOY)

Q12022

39

M EDI A N SA L E PRI CE

Q12023

$513,500 (+3% YOY)

Q12022

$496,950

SOL D L I ST I N GS

Q12023

42 (-34% YOY)

Q12022 64

5 Truro Road,

99 Reflection Drive, Sandwich the

Mashpee

Source: CCIMLS For the purpose of this report,Upper Cape includes Bourne,Falmouth, Mashpee,Sandwich

of this Bourne,Falmouth,Mashpee,Sandwich

Bourne

CONDOM INIUM S

N EW L I ST I N GS

Q12023

3 (-66% YOY)

Q12022 9

M EDI A N SA L E PRI CE

Q12023

$561,500 (+26% YOY)

Q12022

$442,500

Falmouth

CONDOM INIUM S

N EW L I ST I N GS

Q12023

18 (-5% YOY)

Q12022 19

M EDI A N SA L E PRI CE

Q12023

$488,500 (-18% YOY)

Q12022

$598,000

AVERAGE DAYS ON M A RK ET

Q12023

45 (-57% YOY)

Q12022 106

SOL D L I ST I N GS

Q12023

4 (-66% YOY)

Q12022 12

AVERAGE DAYS ON M A RK ET

Q12023

38 (+216% YOY)

Q12022 12

SOL D L I ST I N GS

Q12023 10 (0% YOY)

Q12022 10

Mashpee

CONDOM INIUM S

N EW L I ST I N GS

Q12023

32 (-17% YOY)

Q12022 39

M EDI A N SA L E PRI CE

Q12023

$515,000 (+4% YOY)

Q12022

$493,500

Sandwich

CONDOM INIUM S

N EW L I ST I N GS

Q12023 4 (-42% YOY)

Q12022 7

M EDI A N SA L E PRI CE

Q12023

$366,000 (-10% YOY)

Q12022

$409,500

AVERAGE DAYS ON M A RK ET

Q12023 40 (+48% YOY)

Q12022 27

SOL D L I ST I N GS

Q12023 24 (-36% YOY)

Q12022 38

AVERAGE DAYS ON M A RK ET

Q12023 58 (+427% YOY)

Q12022 11

SOL D L I ST I N GS

Q12023 4 (0% YOY)

Q12022 4

Source: CCIMLS

WhiteGlove LUXURY BEGINS WITH SERVICE

Gibson Sotheby?s International Realty?s White Glove program is designed to provide luxurious and comprehensive home preparation services with professional project management and no upfront costs. White Glove offers our clients value at every stage of the home selling or buying process with an exclusive suite of seamless services powered by Zoom Casa.

Curious to learn more? Contact us today

43 Webster Road, West Yarmouth

Source: CCIMLS For the purpose of this report,Mid Cape includes Barnstable,Dennis,Yarmouth

MidCape

SINGLE FAM ILY

L I ST I N GS TA K EN

Q12023

229 (-27% YOY)

Q12022

314

AVERAGE DAYS ON M A RK ET

Q12023

46 (+48% YOY)

Q12022

31

M EDI A N SA L E PRI CE

Q12023

$570,000 (0% YOY)

Q12022

$570,000

SOL D L I ST I N GS

Q12023

202 (-29% YOY)

Q12022

285

Barnstable

SINGLE FAM ILY

N EW L I ST I N GS

Q12023

98 (-38% YOY)

Q12022 160

M EDI A N SA L E PRI CE

Q12023

$629,000 (+7% YOY)

Q12022

$582,500

AVERAGE DAYS ON M A RK ET

Q12023

55 (+66% YOY)

Q12022 33

SOL D L I ST I N GS

Q12023

91(-31% YOY)

Q12022 133

80 Merchant Avenue, Yarmouth

Dennis

N EW L I ST I N GS

Q12023

45 (-16% YOY)

Q12022

54

M EDI A N SA L E PRI CE

Q12023

$587,000 (-6% YOY)

Q12022

$627,000

Yarmouth

SINGLE FAM ILY

N EW L I ST I N GS

Q12023

86 (-14% YOY)

Q12022 100

M EDI A N SA L E PRI CE

Q12023

$532,000 (-0 6% YOY)

Q12022

$535,000

AVERAGE DAYS ON M A RK ET

Q12023

45 (+4% YOY)

Q12022 43

SOL D L I ST I N GS

Q12023

38 (-30% YOY)

Q12022 55

AVERAGE DAYS ON M A RK ET

Q12023

34 (+61% YOY)

Q12022 21

SOL D L I ST I N GS

Q12023 73 (-24% YOY)

Q12022 97

SINGLE FAM ILY Source: CCIMLS

MidCape

CONDOM INIUM S

N EW L I ST I N GS

Q12023

54 (-31% YOY)

Q12022 79

AVERAGE DAYS ON M A RK ET

Q12023

35 (-23% YOY)

Q12022

46

M EDI A N SA L E PRI CE

Q12023

$325,000 (-1% YOY)

Q12022

$330,000

SOL D L I ST I N GS

Q12023

40 (-32% YOY)

Q12022

59

Source: CCIMLS For the purpose of this report,Mid Cape includes Barnstable,Dennis,Yarmouth

7 Jonquil Road, Yarmouth

Barnstable

CONDOM INIUM S

N EW L I ST I N GS

Q12023

19 (-29% YOY)

Q12022 27

M EDI A N SA L E PRI CE

Q12023

$307,000 (-4% YOY)

Q12022

$321,000

AVERAGE DAYS ON M A RK ET

Q12023

32 (-13% YOY)

Q12022 37

SOL D L I ST I N GS

Q12023 8 (-52% YOY)

Q12022 17

Dennis

CONDOM INIUM S

N EW L I ST I N GS

Q12023

18 (-28% YOY)

Q12022 25

M EDI A N SA L E PRI CE

Q12023

$249,000 (-26% YOY)

Q12022

$340,000

Yarmouth

CONDOM INIUM S

N EW L I ST I N GS

Q12023

17 (-37% YOY)

Q12022 27

M EDI A N SA L E PRI CE

Q12023

$395,000 (+19% YOY)

Q12022

$329,500

AVERAGE DAYS ON M A RK ET

Q12023

41(-28% YOY)

Q12022 57

SOL D L I ST I N GS

Q12023

13 (-35% YOY)

Q12023 20

AVERAGE DAYS ON M A RK ET

Q12023

33 (-25% YOY)

Q12022 44

SOL D L I ST I N GS

Q12023

19 (-13% YOY)

Q12022 22

Source: CCIMLS

RealScout

RealScout is the industry's #1collaborative home search app. Our clients rave about this innovative, mobile-friendly search tool! Want to try the future of the home buying search process? Contact our team to get started today.

LowerCape

SINGLE FAM ILY

L I ST I N GS TA K EN

Q12023

115 (+8% YOY)

Q12022

106

AVERAGE DAYS ON M A RK ET

Q12023

44 (+15% YOY)

Q12022 38

M EDI A N SA L E PRI CE

Q12023

$750,000 (-10% YOY)

Q12022

$835,000

SOL D L I ST I N GS

Q12023

97 (-14% YOY)

Q12022

113

7 Kenneth Lane, Orleans

Source: CCIMLS For the purpose of this report,Lower Cape includes Brewster,Chatham, Harwich,Orleans

Brewster

SINGLE FAM ILY

N EW L I ST I N GS

Q12023

27 (+68% YOY)

Q12022 16

M EDI A N SA L E PRI CE

Q12023

$661,000 (-14% YOY)

Q12022

$770,000

Chatham

SINGLE FAM ILY

N EW L I ST I N GS

Q12023

36 (-5% YOY)

Q12022 38

M EDI A N SA L E PRI CE

Q12023

$852,500 (-29% YOY)

Q12022

$1,212,500

AVERAGE DAYS ON M A RK ET

Q12023 44 (-13% YOY)

Q12022 51

SOL D L I ST I N GS

Q12023 19 (0% YOY)

Q12022 19

AVERAGE DAYS ON M A RK ET

Q12023 58 (+38% YOY)

Q12022 42

SOL D L I ST I N GS

Q12023 25 (-34% YOY)

Q12022 38

Harwich

SINGLE FAM ILY

N EW L I ST I N GS

Q12023

30 (-16% YOY)

Q12022 36

M EDI A N SA L E PRI CE

Q12023

$682,500 (+13% YOY)

Q12022

$600,000

Orleans

AVERAGE DAYS ON M A RK ET

Q12023 31(+158% YOY)

Q12022 12

SOL D L I ST I N GS

Q12023

36 (-2% YOY)

Q12022 37

N EW L I ST I N GS

Q12023

22 (+37% YOY)

Q12022 16

M EDI A N SA L E PRI CE

Q12023

$1,450,000 (+44% YOY)

Q12022

$1,000,001

AVERAGE DAYS ON M A RK ET

Q12023

53 (-22% YOY)

Q12022 68

SOL D L I ST I N GS

Q12023

17 (-10% YOY)

Q12022 19

SINGLE FAM ILY Source: CCIMLS

18 West Road, Units 215 & 311, Orleans

Source: CCIMLS For the purpose of this report,Lower Cape includes Brewster,Chatham, Harwich,Orleans

LowerCape

CONDOM INIUM S

N EW L I ST I N GS

Q12023

36 (+9% YOY)

Q12022

33

AVERAGE DAYS ON M A RK ET

Q12023

40 (-32% YOY)

Q12022

59

M EDI A N SA L E PRI CE

Q12023

$390,000 (+11% YOY)

Q12022

$350,500

SOL D L I ST I N GS

Q12023

25 (-26% YOY)

Q12022 34

Brewster

CONDOM INIUM S

N EW L I ST I N GS

Q12023

14 (+16% YOY)

Q12022 12

M EDI A N SA L E PRI CE

Q12023

$405,000 (+17% YOY)

Q12022

$344,000

Chatham

CONDOM INIUM S

N EW L I ST I N GS

Q12023 7 (+16% YOY)

Q12022 6

M EDI A N SA L E PRI CE

Q12023

$379,000 (-27% YOY)

Q12022

$525,000

AVERAGE DAYS ON M A RK ET

Q12023 59 (+84% YOY)

Q12022 32

SOL D L I ST I N GS

Q12023 10 (-9% YOY)

Q12022 11

AVERAGE DAYS ON M A RK ET

Q12023 66 (-50% YOY)

Q12022 132

SOL D L I ST I N GS

Q12023 3 (-40% YOY)

Q12022 5

Harwich

CONDOM INIUM S

N EW L I ST I N GS

Q12023

6 (+20% YOY)

Q12022 5

M EDI A N SA L E PRI CE

Q12023

$307,500 (+6% YOY)

Q12022

$289,000

Orleans

CONDOM INIUM S

N EW L I ST I N GS

Q12023

9 (-10% YOY)

Q12022 10

M EDI A N SA L E PRI CE

Q12023

$390,278 (+12% YOY)

Q12022

$380,000

AVERAGE DAYS ON M A RK ET

Q12023 21(-72% YOY)

Q12022 75

SOL D L I ST I N GS

Q12023

6 (-14% YOY)

Q12022 7

AVERAGE DAYS ON M A RK ET

Q12023 15 (-64% YOY)

Q12022 42

SOL D L I ST I N GS

Q12023 6 (-45% YOY)

Q12022 11

Source: CCIMLS

DI SCOVER T H E EASE OF

Deposit Link

DepositLink is a simple, secure and efficient way for real estate companies and escrow holders to collect earnest money deposits and commissions electronically through the ACH network.

DepositLink is a Game Changer

- With Same Day ACH,payments clear in less than 24 hours

- Safely request deposits and commissions from anywhere

- Securely connect to more than 16,000 banks and credit unions nationwide

- Unique workflows and reporting for sales and rentals

- Divide payments among multiple buyers or tenants

- Track the status of transfers in real-time with your phone

- Issue refunds and co-broke payments electronically in seconds

Security is Our #1Priority

- We NEVERsave or store any banking info

- Clients?contact information is NEVERshared

- Bank-level 256-bit key data encryption

- Two-factor authentication login

- 2-step identity and account verification

6 Center Street, Provincetown

Source: CCIMLS For the purpose of this report,Outer Cape includes Eastham,Wellfleet, Truro,Provincetown

OuterCape

SINGLE FAM ILY

L I ST I N GS TA K EN

Q12023

48 (+11% YOY)

Q12022

43

AVERAGE DAYS ON M A RK ET

Q12023

46 (+48% YOY)

Q12022

31

M EDI A N SA L E PRI CE

Q12023

$766,750 (-4% YOY)

Q12022

$800,000

SOL D L I ST I N GS

Q12023

44 (-10% YOY)

Q12022

49

Eastham

SINGLE FAM ILY

N EW L I ST I N GS

Q12023

23 (-4% YOY)

Q12022 24

M EDI A N SA L E PRI CE

Q12023

$695,000 (-5% YOY)

Q12022

$736,500

Wellfleet

SINGLE FAM ILY

N EW L I ST I N GS

Q12023

11(+83% YOY)

Q12022 6

M EDI A N SA L E PRI CE

Q12023

$1,050,000 (+19% YOY)

Q12022

$878,750

AVERAGE DAYS ON M A RK ET

Q12023

40 (+100% YOY)

Q12022 20

SOL D L I ST I N GS

Q12023

29 (+11% YOY)

Q12022 26

AVERAGE DAYS ON M A RK ET

Q12023

48 (+37% YOY)

Q12022 35

SOL D L I ST I N GS

Q12023

7 (-50% YOY)

Q12022 14

Truro

SINGLE FAM ILY

N EW L I ST I N GS

Q12023

11(+83% YOY)

Q12022

6

M EDI A N SA L E PRI CE

Q12023

$915,000 (-70% YOY)

Q12022

$3,070,450

Provincetown

SINGLE FAM ILY

N EW L I ST I N GS

Q12023

3 (-57% YOY)

Q12022

7

M EDI A N SA L E PRI CE

Q12023

$2,210,000 (+6% YOY)

Q12022

$2,075,921

AVERAGE DAYS ON M A RK ET

Q12023

73 (+102% YOY)

Q12022 36

SOL D L I ST I N GS

Q12023

4 (+100% YOY)

Q12022

2

AVERAGE DAYS ON M A RK ET

Q12023

52 (-17% YOY)

Q12022 63

SOL D L I ST I N GS

Q12023

4 (-42% YOY)

Q12022

7

296-A Commercial Street, Provincetown

Source: CCIMLS For the purpose of this report,Outer Cape includes Eastham,Wellfleet,Truro, Provincetown

OuterCape

CONDOM INIUM S

N EW L I ST I N GS

Q12023

36 (-14% YOY)

Q12022

42

AVERAGE DAYS ON M A RK ET

Q12023

58 (+100% YOY)

Q12022

29

M EDI A N SA L E PRI CE

Q12023

$714,950 (+12% YOY)

Q12022

$635,000

SOL D L I ST I N GS

Q12023

32 (-8% YOY)

Q12022

35

Eastham

CONDOM INIUM S

N EW L I ST I N GS

Q12023

1(+100% YOY)

Q12022 0

M EDI A N SA L E PRI CE

Q12023

$377,000 (0% YOY)

Q12022

$377,000

Wellfleet

CONDOM INIUM S

N EW L I ST I N GS

Q12023

6 (-25% YOY)

Q12022 8

M EDI A N SA L E PRI CE

Q12023

$821,500 (+160% YOY)

Q12022

$315,000

AVERAGE DAYS ON M A RK ET

Q12023

149 (+231% YOY)

Q12022 45

SOL D L I ST I N GS

Q12023

4 (+300% YOY)

Q12022 1

AVERAGE DAYS ON M A RK ET

Q12023

144 (+414% YOY)

Q12022 28

SOL D L I ST I N GS

Q12023

1(-66% YOY)

Q12022 3

Truro

CONDOM INIUM S

N EW L I ST I N GS

Q12023

3 (-40% YOY)

Q12022 5

M EDI A N SA L E PRI CE

Q12023

$415,750 (+22% YOY)

Q12022

$338,500

Provincetown

CONDOM INIUM S

N EW L I ST I N GS

Q12023

26 (-10% YOY)

Q12022 29

M EDI A N SA L E PRI CE

Q12023

$775,000 (-6% YOY)

Q12022

$825,000

AVERAGE DAYS ON M A RK ET

Q12023 40 (-33% YOY)

Q12022 60

SOL D L I ST I N GS

Q12023 4 (0% YOY)

Q12022 4

AVERAGE DAYS ON M A RK ET

Q12023 42 (+75% YOY)

Q12022 24

SOL D L I ST I N GS

Q12023 23 (-14% YOY)

Q12022 27

Source: CCIMLS

Brewster

2404 Main Street

Brewster,MA 02631

Main Office: 508 896 5000

Rental Office: 508 255 7100

HarwichPort

587 Route 28

Harwich Port,MA 02646

Main Office: 508.432.6100

Rental Office: 508.255.7100

Chatham

409 Main Street

Chatham,MA 02633

Main Office: 508 945 0000

Rental Office: 508 255 7100

Dennis

563 Route 6A

Dennis,MA 02638

Main Office: 508 385 4944

Rental Office: 508 385 6100

Orleans 6 Route 6A

Orleans,MA 02653

Main Office: 508.255.6000

Rental Office: 508.255.7100

Provincetown

168 Commercial Street

Provincetown,MA 02657

Main Office: 508.487.2430

Rental Office: 508.487.2430