Cape Cod Real Estate Market Update End of 2024
<p>Cape Cod Real Estate Market Update: November & December 2024</p>
<p>The Cape Cod real estate market wrapped up 2024 with some notable trends in November and December. As we close the year, let’s take a closer look at what happened and what it could mean for buyers and sellers moving forward.</p>
<p><iframe height="300" src="https://capecodagents.stats.showingtime.com/infoserv/s-v1/vpcW-y2m?w=400&h=300" style="border: 0; width: 400px; margin: 9px; float: right;"></iframe></p>
<p><strong>Inventory: Seasonal Decline, But the Market is Still Active</strong><br />
As expected, inventory dipped during the late fall months, with many sellers holding off until the new year to list their homes. At the end of December, there were just under 500 single-family homes on the market—down from October but still higher than the same period in 2023. Inventory and price remain lopsided as most of the available inventory continues to be in the higher price brackets -- we ended the year with only 134 homes listed below $775k (median). As a result, buyers looking for more affordable options still find themselves in competitive situations.</p>
<p><strong>Days on Market: Slower, But Not Stalled</strong><br />
The average Days on Market (DOM) in December crept up slightly, reflecting a more balanced pace compared to the frenzied buying of recent years. However, this trend doesn’t necessarily indicate a cooling market. Instead, it reflects the mix of inventory, as higher-priced or unique homes tend to take longer to sell. Entry-level and mid-range properties are still moving quickly, especially when priced competitively.</p>
<p><iframe height="300" src="https://capecodagents.stats.showingtime.com/infoserv/s-v1/vxtD-fUT?w=400&h=300" style="border: 0; width: 400px; margin: 9px; float: right;"></iframe></p>
<p><strong>Median Sales Price: Holding Strong</strong><br />
The median sales price for single-family homes dropped from the peak of $825k in October finishing at $775k in December—consistent with seasonal trends and marking a 6% increase compared to December 2023. While the pace of price growth has slowed from the double-digit gains of 2021 and 2022, Cape Cod real estate continues to appreciate steadily.</p>
<p><strong>Looking Ahead to 2025</strong><br />
The late fall and early winter months often set the tone for the spring market, and current indicators suggest that demand for Cape Cod homes will remain strong in 2025. Whether you’re buying, selling, or considering an investment, it’s a great time to review your strategy. Whichever seat you are in, whether buying, selling or vacation renting, the professionals at Chatelain Real Estate are here to give you the expert advice you will need to make your transaction a success. For more market data check out our blog category <a href="https://www.capecodchatelains.com/blog/category/real-estate-trends/"> Real Estate Trends.</a> You can also <a href="http://www.capecodchatelains.com/contact-us/">give us a call any time</a> - we look forward to hearing from you.</p>
<p> </p>
<table align="center" border="1" cellpadding="10" cellspacing="10">
<caption>
<h2 style="text-align: center;">Recent Market Summary</h2>
</caption>
<tbody>
<tr>
<td style="text-align: center;"> </td>
<td style="text-align: center;"> Sept </td>
<td style="text-align: center;"> Oct </td>
<td style="text-align: center;"> Nov </td>
<td style="text-align: center;"> Dec </td>
</tr>
<tr>
<td style="text-align: center;"> Closed Sales </td>
<td style="text-align: center;"> 243 </td>
<td style="text-align: center;"> 310 </td>
<td style="text-align: center;"> 262 </td>
<td style="text-align: center;"> 234 </td>
</tr>
<tr>
<td style="text-align: center;"> Inventory </td>
<td style="text-align: center;"> 777 </td>
<td style="text-align: center;"> 743 </td>
<td style="text-align: center;"> 623 </td>
<td style="text-align: center;"> 462 </td>
</tr>
<tr>
<td style="text-align: center;"> Median Sales Price</td>
<td style="text-align: center;"> $810k </td>
<td style="text-align: center;"> $825k </td>
<td style="text-align: center;"> $739k </td>
<td style="text-align: center;"> $775k </td>
</tr>
<tr>
<td style="text-align: center;"> Avg Days on Market </td>
<td style="text-align: center;"> 42 </td>
<td style="text-align: center;"> 51 </td>
<td style="text-align: center;"> 40 </td>
<td style="text-align: center;"> 57 </td>
</tr>
<tr>
<td style="text-align: center;"> Avg % of Original Price </td>
<td style="text-align: center;"> 96% </td>
<td style="text-align: center;"> 96% </td>
<td style="text-align: center;"> 96% </td>
<td style="text-align: center;"> 94% </td>
</tr>
</tbody>
</table>
<p> </p>
<p> </p>
Cape Cod Real Estate Market Update: November & December 2024
The Cape Cod real estate market wrapped up 2024 with some notable trends in November and December. As we close the year, let’s take a closer look at what happened and what it could mean for buyers and sellers moving forward.
Inventory: Seasonal Decline, But the Market is Still
Active
As expected, inventory dipped during the late fall months, with
many sellers holding off until the new year to list their homes. At
the end of December, there were just under 500 single-family homes
on the market—down from October but still higher than the
same period in 2023. Inventory and price remain lopsided
as most of the available inventory continues to be in the
higher price brackets -- we ended the year with only
134 homes listed below $775k (median). As a
result, buyers looking for more affordable options still find
themselves in competitive situations.
Days on Market: Slower, But Not Stalled
The average Days on Market (DOM) in December crept up slightly,
reflecting a more balanced pace compared to the frenzied buying of
recent years. However, this trend doesn’t necessarily
indicate a cooling market. Instead, it reflects the mix of
inventory, as higher-priced or unique homes tend to take longer to
sell. Entry-level and mid-range properties are still moving
quickly, especially when priced competitively.
Median Sales Price: Holding Strong
The median sales price for single-family homes dropped from the
peak of $825k in October finishing at $775k in
December—consistent with seasonal trends and marking a 6%
increase compared to December 2023. While the pace of price growth
has slowed from the double-digit gains of 2021 and 2022, Cape Cod
real estate continues to appreciate steadily.
Looking Ahead to 2025
The late fall and early winter months often set the tone for the
spring market, and current indicators suggest that demand for Cape
Cod homes will remain strong in 2025. Whether you’re buying,
selling, or considering an investment, it’s a great time to
review your strategy. Whichever seat you are in,
whether buying, selling or vacation renting, the professionals at
Chatelain Real Estate are here to give you the expert advice you
will need to make your transaction a success. For more market data
check out our blog category
Real Estate Trends. You can also give us a call any
time - we look forward to hearing from you.
| Sept | Oct | Nov | Dec | |
| Closed Sales | 243 | 310 | 262 | 234 |
| Inventory | 777 | 743 | 623 | 462 |
| Median Sales Price | $810k | $825k | $739k | $775k |
| Avg Days on Market | 42 | 51 | 40 | 57 |
| Avg % of Original Price | 96% | 96% | 96% | 94% |