At the end of the second quarter, the high-end inventory of listings, active and pending, was up by 21% to a record 318 listings compared to 263 last year and the previous record of 271 listings in 2016. The majority (53%) of these listings were in the $2-$3 million range and 70% were in the $2-$4 million range. Twenty percent were $5,000,000+, 9 % were $7,000,000+ and 5% were $10,000,000+. Inventories dropped significantly in 2021, more so in 2022 to a bottom of 161. At the end of Q2 2025, they exceed the ten year average of 233 listings.
Sales volume at the end of the second quarter was up by 20% with a record 118 sales compared to 98 sales last year, and better than the ten-year average of 75 sales. The majority (59%) of these sales were in the $2-$3 million range and 78% were in the $2-$4 million range. Four percent were $7,000,000+ and one was $10,000,000+. High-end sales volume had a post-COVID retraction in 2023, but now exceeds the COVID peak level of 116 sales in 2021. Climate change risks and insurance that is costly, with limited coverage or not available, are increasing concerns for owners and buyers of coastal properties. Turnkey properties have an advantage over new construction with likely increases in building costs. Buyers will benefit from improving inventories and will find exceptional deals for high-risk properties. On the other hand, demand is strong as is pricing.
522 Shore Road
Town: Chatham
Selling price: $11,250,000
Chatham Harbor waterfront on almost 3 elevated acres with views over the harbor to the Atlantic. Classic shingled estate property built in 1930 with 5,900 sq ft, 7 bedrooms. Originally listed for $13,950,000 and on the market for 327 days.
Days on market for high-end sales at the end of the second quarter were up by 9% to 126 from 116 last year and are significantly below the ten-year average of 246. The record low was 86 days in 2023. The range of days on market is wide, from 0 to 583.
At the end of the second quarter, 14 of the 15 towns on Cape Cod had sales at the $2,000,000+ level. Chatham led the pack with 22 sales followed by Barnstable with 20 sales (6 in Osterville) and Falmouth with 19 sales. Mashpee and Provincetown tied with 12 sales. Compared to last year, Falmouth increased 10 to 19 sales; Mashpee increased 4 to 12 sales. Harwich decreased 14 to 4 sales and Sandwich decreased 10 to 2 sales.
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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