Selling prices are heating up along with the weather. Like a Cape Cod Spring, things were off to a slow start, but no longer! Average and median sale prices are up nearly 10% while unit sales are significantly down. This is a clear seller's market. Low inventory continues to be the biggest story and well priced homes are selling very quickly. After several quarters of slow price growth, the continued lack of homes on the market is finally putting strong pressure on prices. Note, in particular, the trend of sales distribution towards the upper middle price range ($500,000 - $749,999) as well as near-luxury home sales ($750,000 - $999,999). Homeowners thinking of selling should consider acting now while buyers are willing to pay more to get into this market.
| All Kinlin Grover Sales | 2017 | 2018 | % Change |
|---|---|---|---|
| Sales | 365 | 296 | - 18.8 |
| Average Sale Price | $430,836 | $563,944 | + 30.9 |
| Median Sale Price | $369,000 | $434,500 | - 1.1 |
| Cape Cod High-End Single Family |
2017 | 2018 | % Change |
|---|---|---|---|
| Sales | 64 | 61 | - 4.7 |
| Average Sale Price | $1,715,846 | $1,904,975 | + 11.0 |
| Median Sale Price | $1,337,250 | $1,450,000 | + 8.4 |
| Cape Cod Condominiums | 2017 | 2018 | % Change |
|---|---|---|---|
| Sales | 180 | 178 | - 1.1 |
| Average Sale Price | $308,312 | $346,980 | + 12.5 |
| Median Sale Price | $249,500 | $276,250 | + 10.7 |
| Days On Market | 152 | 112 | - 26.3 |
| Cape Cod Single Family Sales |
2017 | 2018 | % Change |
|---|---|---|---|
| Sales | 810 | 706 | - 12.8 |
| Average Sale Price | $509,553 | $559,229 | + 9.8 |
| Median Sale Price | $374,750 | $405,000 | + 8.1 |
| Days On Market | 147 | 125 | - 15.0 |
| Commercial and Land | 2017 | 2018 | % Change |
|---|---|---|---|
| Sales | 50 | 42 | - 16.7 |
| Average Sale Price | $236,912 | $246,223 | + 3.9 |
| Median Sale Price | $212,500 | $175,000 | - 17.6 |
| Days On Market | 426 | 372 | - 12.7 |
| Residential Sales Distribution |
2017 | 2018 | % Change |
|---|---|---|---|
| Under $350,000 | 468 | 379 | - 19.0 |
| $350,000 - $499,999 | 285 | 245 | - 14.0 |
| $500,000 - $749,999 | 132 | 163 | + 23.5 |
| $750,000 - $999,999 | 54 | 56 | + 3.7 |
| $1 Million+ | 64 | 61 | - 4.7 |
