Curious About Cape Cod Real Estate Trends? Start Here!

With its charming lighthouses, delicious seafood, and serene beaches, Cape Cod offers a unique blend of natural beauty and relaxed living. The allure of this coastal vacation spot has had quite an effect on its real estate market. Recent rising prices have painted a captivating picture of the Cape Cod real estate market. We’ll delve into the intricacies of this market, exploring median home prices across the four main regions of Cape Cod – Upper Cape, Mid Cape, Lower Cape, and Outer Cape.

Please note that the data analyzed is from MLSPIN (Massachusetts Property Information Network). While MLSPIN provides comprehensive real estate data, it does not include all sales on Cape Cod and the Islands.

The Highs and Lows Across the Cape

Over the past three months (March 20 to June 20, 2023), the median sales prices for single-family homes on Cape Cod have revealed a compelling story. Let’s break it down by region.

Upper Cape: The Gateway to the Cape

Upper Cape, known as the gateway to Cape Cod, includes the towns of Bourne, Falmouth, Mashpee, and Sandwich. These towns offer a mix of quiet neighborhoods and bustling tourist attractions. The median sale price for single-family homes during the last three months ranged from $605,000 in Bourne to $767,500 in Falmouth.

Mid-Cape: The Heart of the Cape

Moving to the heart of the Cape, Mid Cape comprises Barnstable, Dennis, and Yarmouth. This region is home to several picturesque villages and harbors. Despite this, the median prices here were slightly lower than in the Upper Cape. Dennis came in on the lower end with a median price of $640,000, while Barnstable saw a higher median at $695,000.

Lower Cape: The Luxurious Peninsula

Lower Cape, arguably the most prestigious and scenic region of Cape Cod, is where the prices begin to climb. Harwich had a lower median sale price of $825,000, while Chatham, known for its luxurious homes, boasted the highest median sales price on the Cape at $1,575,000. Orleans also came in at over a million, with a median sales price of $1,375,000.

Outer Cape: The Crown of Cape Cod

Outer Cape, including Eastham, Provincetown, Truro, and Wellfleet, features premium properties. The median home prices in this region vary significantly, with Provincetown leading at $2,125,000 and Wellfleet on the lower end at $850,000. Eastham and Truro fall in between, with median prices of $899,500 and $1,314,500 respectively. The pricing mirrors the charm of Outer Cape’s unspoiled beaches, historic appeal, and cultural vibrancy.

While these figures reflect the past three months’ real estate activity, they also underline the broader trend of rising home prices on Cape Cod. From the gateway of Upper Cape to the luxurious peninsula of Lower Cape, the real estate market across the region is a testament to the allure of Cape Cod life. Whether it’s a quaint, classic cottage in Dennis or a waterfront property in Chatham, the Cape’s unique charm and beauty continue to attract a wide range of buyers. As the summer of 2023 unfolds, we’ll be watching to see how these trends evolve in one of Massachusetts’ most coveted vacation destinations.

Interested in listing a property on the Cape or looking for a home to rent or buy? Give us a call at 617.314.9400 to get matched with a Senné Associate and start your real estate journey today.