Cape Cod Housing Shortage Drives Bidding Wars This Spring

Exterior Home Sold by Coldwell Banker

On the Cape (as in many parts of the country and resort destinations), turns out that having less than two months of inventory, along with decades of housing underproduction and second home owners choosing the beach house as their primary residence, drives prices to new heights.

“Low inventory levels continue to drive up prices. According to the Cape Cod & Islands Association of Realtors’ latest data, the median sales price of a single-family home in Barnstable County set a new record high in the region, rising to $653,500. The median sales price for condominiums was $339,500,” reported Boston Agent Magazine.

In March, 43% of Cape homes sold above asking price, along with the accompanied bidding wars, compared to only 11% of Cape listings in March ’20 that sold above asking price. How much these most recent homes are selling over asking price will be known once the closings hit the record books in May and June. How those comps and continued supply/demand imbalances play out will surely keep above asking prices and bidding wars par for the course throughout 2021.

To learn more, or for a complimentary custom micro-market analysis or property report, check in with Aviator Properties Team.


About the Author

I'm a top-performing Realtor and the founder of Aviator Properties Team at Coldwell Banker Realty, the world's premier real estate brokerage. With over 20 years of business experience and a proven track record of success, I help clients buy, sell, and invest in extraordinary properties throughout Boston and Metro West. Based in Chestnut Hill, I operate out of Coldwell Banker Brookline and my home office in Newton, MA.

I have a broad range of expertise covering new construction luxury homes, antique historic homes, high-performance passive homes, multifamily investment properties, condos, townhouses, and single-family houses. My clients have benefited from this diverse background and my ability to decipher trends and provide strategic guidance on the ever-changing real estate market. From first-time homebuyers to seasoned investors, I am committed to delivering exceptional service and successful outcomes for each of my clients.

My experience is not limited to real estate. Previous to becoming a Realtor, I worked for a decade in TV production, earned my MBA at Babson College in Wellesley, and founded and served as CEO of my Boston-based startup, Mimoco, merging consumer products, toys, electronics, licensing, and content creation generating more than $30M in sales.

As an entrepreneurial problem solver, I bring a unique approach to real estate that draws upon my cross-functional skill set in finance, development, management, sales, marketing, and negotiation. My clients describe me as overly organized, detail-oriented, analytical, and a communicative professional who is trusted in delivering favorable results and creating win-win situations.

When I'm not helping clients achieve their real estate goals, I am a dedicated husband and father of two teenage children (and two crazy cats). In my free time, I enjoy playing tennis, drone photography, live music, and exploring the world through travel. As a private pilot, I also love to take to the skies and find new perspectives.

As your mission-driven co-pilot, I promise to go above and beyond to elevate your real estate experience to the highest level with the least amount of stress. Let me be your secret weapon in your home buying or selling mission. I value my clients and look forward to sharing my passion for winning at real estate with you!

Real Estate Accreditations: Massachusetts and National Association of REALTORS®, Accredited Buyers Representative, Luxury Property Specialist, Resort and Second-Home Property Specialist, NAR Green