On Cape Cod, the inventory of high-end listings at the end of the third quarter is near record levels with 253 listings compared to a record level of 283 at the same time last year.
On Cape Cod, the high-end market is predominately in the $2-$3 million range.
Q1-Q3 2016 has repeated the strong performance of the past five years with a record-tying 68 sales thus far (tied with 2014).
Property: 132 Shore Road Town: Chatham Lot: 1.3 acres Selling price: $10,800,000 Days on Market: 32
The elegant nicely renovated 1900s house was sold for $5,600,000 in 2008 and completely renovated by the current owners.
Source: MLS
Days on the market were down significantly to 305 days compared to 387 days in 2015 and an average since 2007 of 363 days. The range is remarkably wide with sales occurring from 1 day to more than 10 years.
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 the first three-quarters of 2016, 13 of the 15 towns on Cape Cod had sales at the $2,000,000+ level.
[gallery size="medium" ids="44713,44703,44723"]
For additional information about LandVests brokerage, real estate consulting, and appraisal services, please contact:
To landvest.com .jpg)
Follow Us on Social Media