Market Insights

Real Estate Prices

Price Trend of Building Lots

With so little land left to develop, prices of build-able lots have increased but are still affordable. New zoning laws, Conservation restrictions and the process of building in environmentally sensitive areas, has slowed growth to a more manageable pace.

Price Trend of Home Prices

After four years of 25% annual growth, home prices have begun to flatten and decline slightly since the peak in 2004. During the 2007 year, prices are down almost 10% from 2006, and the number of sales has declined by nearly 8%. The downward trend continued into 2008 with prices down 12% and sales down 11%.

Development Trends

Cape Cod today is becoming a haven for environmental and conservation oriented citizens. The total area of Cape Cod's nearly 4,000 acres is now developed to approximately 30% of the land leaving only about 3% of land left to be developed.

State and Local Development Restrictions

The Cape Cod Commission was chartered by the County of Barnstable to review development projects of residential and commercial real estate that consist of 10,000 square feet or more. Their purpose is to preserve and protect the environment as well as the safety and enjoyment of the community.

Environmental Limitations

With the advent of the Federal Government's Rivers Act and the Wetlands Protection Act, Cape Cod benefits from specific guidelines and restrictions that govern construction and development within 100 feet of any environmentally sensitive area. Because much of Cape Cod is about water, all the Towns and Villages have specific regulations that help protect the environment for everyone's benefit.

Water and Sewer Use Considerations

Cape Cod homes are over 90% supplied by Town owned water provided by the Town's Water District. The majority of residential and commercial properties are served by private sewers which are governed by the State's Title V Septic System requirements as managed and controlled by each individual Town Board of Health.

Building Lot Size Regulations

Individual Towns on Cape Cod have a substantial set of Zoning By-Laws which govern the size of build-able lots and the regulations pertaining to Lot Coverage, square footage, height and the set back distances of homes or structures from Lot Lines, neighbors and environmentally sensitive areas such as Wetlands.

Real Estate Trends

Cape Cod is in the midst of a changing and variable trend in Real Estate Sales. With prices down 12% from 2007 and Sales down 118%, more opportunities exist for Buyers to find the home that meets their need. During early 2008, the average Cape Cod home sells in over 158 days and the number of Cape Cod properties for sale exceeds 5,800 throughout the Cape.

Available Build-able Lots

The Cape Cod area in early 2008 had over 630 lots for sale. Many of these lots have received building permits for specific homes. Others may face a long process of permitting to achieve a building permit.

Residential Demographics

With a median family income of $60,000, Cape Cod has a population with a median age of 42 years old and approximately 53 of adults are married. Some 63% have completed some college and live in homes with a median price of $330,000.