Cape Cod Market Watch

January, 2014

Volume 8, Issue 1

2013 Market Results for the Cape Cod Real Estate Market
Residential Properties Sales Average Price Days On Market Active Listings 2012 4786 $445,500 209 2844 2013 4709 $450,700 180 2742

Market Watch, January 2014

The incredible rebound of the residential real estate market in 2012 appears to have slowed for 2013 particularly the 2nd half of the year. Inventory is tight and has dropped another 3.6%. When comparing the last two years, active residential units on 1/1/12 to 1/1/14 there is a significant drop of 22%. Taking a look ahead to 2014 many economists forecast in the WSJ and NY Times that 2014 will continue to show slight gains but not at the exciting pace of the last 2 years. Zillow is reporting a 3% gain nationwide. Lawrence Yun, NAR chief economist predicts that a 30-year fixed rate mortgage will be at 5.5% by the end of the year, a sign that the economy has strengthened. Our Cape Cod market continues to show momentum for the 1st quarter of 2014 with approximately 700 properties pending or under agreement at the start of the year.

The Residential Market

Single Family and Condos in 2013, 4709 properties were sold with an average price of $450,700. In 2012, 4786 properties were sold with an average sale price of $445,500. This indicates a 1.7% decrease in number of sales and a 1.2% increase in the average sale price in 2013.

Kinlin Grover
Kinlin Grover Properties Residential Sides Average Price Active Listings 2012 1362 $486,400 415 2013 1413 $468,400 430 Residential Sales Kinlin Grover had 1413 sales sides in 2013 compared to 2012 with 1362 sides, indicating a 3.7% increase. The average sale price for KG residential sales in 2013 was $468,400 and in 2012 the average price was $486,400. This indicates an 3.7% decrease in 2013. Kinlin Grover has an active units market share of 15.7% and sales market share of 15%.

High End Residential Sales Average Price Days On Market Active Listings

2012 278 $1,998,700 310 473

2013 289 $1,829,800 310 502

The High-end Market Report

Residential Sales over $1MIn 2013, 289 properties were sold. In 2012, 278 were sold, indicating a 3.9% increase. The average sales price decreased from $1,998,700 to $1,839,800 in 2013 - an 8.4% decline.

Kinlin Grover Sales Over $1M

Residential Sales over $1MIn 2013, 84 sides were sold and in 2012, 87 sides were sold, a 3% decrease. The average sale price in 2013 was $1,700,000. In 2012 the average was $1,809,200, a 6% decrease. Kinlin Grover maintains a 13.5% market share for active listings and a 14.7% market share for sales of $1M+ listings. Source: Cape Cod & Islands Multiple Listing Service, Inc.

KG High End Residential Residential Sides Residential Average Price Active Listings

2012 87 $1,809,200 68

2013 84 $1,700,000 74

Editor: Bett McCarthy

Assistant Editor: Brian Johnson

Cape Cod Market Watch

Residential Average Sale Price (and number of sales)

Year end 2013

PROVINCETOWN

611,200 (173)

TRURO

496,800 (68)

485,200 (83) BARNSTABLE CENTERVILLE COTUIT HYANNIS HYANNIS PORT MARSTONS MILLS OSTERVILLE 368,900 (317) 539,200 (91) 383,600 (222) 623,600 (75) 250,400 (207) 724,400 (14) 395,900 (94) 935,800 (136) 365,200 (424) ORLEANS DENNIS BOURNE SANDWICH BARNSTABLE 513,400 (584) FALMOUTH MASHPEE 290,600 (552) 386,500 (383) YARMOUTH HARWICH BREWSTER CHATHAM 796,000 (215) WELLFLEET

477,200 (129) EASTHAM 408,500 (224) 639,000 (157)

378,000 (232)

432,100 (329)

Barnstable County Sales

Source: Cape Cod & Islands Multiple Listing Service, Inc. & Trendgraphix

Year to date sales in Units

Kinlin Grover

William Robert Raveis Paul RE Properties

Today Real Estate

Real Estate Associates

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