| Q: "What is the relationship of sale price to asking price in the current residential market?"
A: There
is not a common pattern amongst the three outer Cape towns, but in many
segments of the residential market, we have seen a slight drop during
the past 12 months in the percentage of sale price to list price. Keep
in mind, however, that these percentages do not reflect original list
prices. Many of the properties that sold experienced one or more price
reductions during the course of their time on the market, and the
statistics that are published reflect the percentage of Sale Price to current list price.
PROVINCETOWN
|
Time Period |
Average SP%/LP |
Average Days on Market |
Condos |
8/1/07-8/1/08 |
94% |
175 |
|
8/1/06-8/1/07 |
95% |
159 |
|
|
|
|
Single Family |
8/1/07-8/1/08 |
91% |
247 |
|
8/1/06-8/1/07 |
96% |
259 |
TRURO
|
Time Period |
Average SP%/LP |
Average Days on Market |
Condos |
8/1/07-8/1/08 |
91% |
133 |
|
8/1/06-8/1/07 |
95% |
228 |
|
|
|
|
Single Family |
8/1/07-8/1/08 |
93% |
182 |
|
8/1/06-8/1/07 |
91% |
214 |
WELLFLEET
|
Time Period |
Average SP%/LP |
Average Days on Market |
Condos |
8/1/07-8/1/08 |
96% |
208 |
|
8/1/06-8/1/07 |
92% |
162 |
|
|
|
|
Single Family |
8/1/07-8/1/08 |
93% |
204 |
|
8/1/06-8/1/07 |
96% |
177 |
|