Are there Ups and Downs in the Cape Cod Real Estate Market?
Are there Ups and Downs in the Cape Cod Real Estate Market? The short answer is yes, like all real estate markets. More specifically, there are ups and downs each month, as well as the ups and downs that happen in the real estate cycles over a decade or so.
The chart below shows the ups and downs over a 17 year period for Barnstable County Real Estate. The data is from the Cape and Islands MLS which is one MLSs that we are a part of. And interestingly, it provides the answer to the age old question, "How's the real estate market? on Cape Cod"
In this case, for all price points and including all 15 Cape Cod towns, the answer is a resounding, "H M M M M M M M ... let me think about that." Each year is an M with most activity in the middle and near the ends but not as much in the beginnings of the years.
Of course each Cape Cod town has its own ups and downs, and rightly so with the various town sizes and shorelines that each has to offer. I'll be posting the data and graphs for each town in the next few blogs. Hopefully we can spot some trends that will help to identify the next market move. But so far, real estate on Cape Cod is still moving upward.
For reference, the 15 Towns on Cape Cod are:
Bourne, Falmouth, Sandwich, Mashpee, Barnstable, Yarmouth, Dennis, Harwich, Brewster, Chatham, Orleans, Eastham, Wellfleet, Truro, and Provincetown. Wareham like to be included on the Cape Cod towns list, but because they are "Over the Bridge", we tend to call them "Off Cape".