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Cape Cod Real Estate
Detailed, up-to-date knowledge of:
- Current real estate market dynamics that are influencing prices
Cape Cod property has become increasingly more complex as
property values rise and prices stabilize.
Current Cape Cod Real Estate Trends
Cape Cod is in the midst of a changing and variable trend in Real Estate Sales. With prices up 7% from 2013 and Cape Cod property sales down 6%, more opportunities exist for Buyers to find the home that meets their need. During the past year, the average Cape Cod home sells in over 143 days and the number of properties for sale exceeds 2,800 throughout the Cape. The inventory of properties for sale is approximaely 10 months at the current rate of sale and the selling price averages 89% of list price.
Currently Available Build-able Lots
The Cape Cod area in 2014 had over 600 residential 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.
Cape Cod has grown from a vacation community to a more year-round community. Approximately, 60% of the Cape is occupied year-round which is up from 40% just 10 years ago.
Current 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.
The Old King's Highway Regional District Act was passed into Law by the State of Massachusetts in 1973 to preserve and protect the historic appearance of Cape Cod. The Old King's Highway Historic Committees review all plans for construction and renovation of structures north of Route 6 the Mid-Cape Highway. Covering over 80 square miles, the Old King's Highway Historic District is one of the largest in the United States and extends from Sandwich to Orleans. The south side of the Cape has certain sections of its geography controlled by Historic Committees such as South Dennis Historic Committee.
Historical Zone Regulations
The Historic Committees regulate the appearance, size and location of structures from single family homes and commercial buildings to sheds, barns, fences, landscapes, walls and signs. Their main purpose is to review the historic appropriateness of how structures will appear to the public including paint colors, roofing, siding, window configurations and the location of structures on individual lots. The committees concentrate on making sure that the size or mass of structures is consistent with the location or setting that surrounds each property.
Benefits of Historic Regulation
Historic Committees on Cape Cod provide a consistent review board for all construction, renovation, repair and remodeling. The greatest value is that what is seen by each resident or visitor is the consistent appearance of what is appropriate to the Cape. While not requiring all homes, and structures to look the same, the Historic Committee prevents the construction of anything that simply looks out of place. Therefore, preserving what is beautiful on Cape Cod forever and extending into the future the design and construction style of the antique homes of our forefathers.
Cape Cods First Residents
Cape Cod homes are a living record of Cape Cod history, a story begun in ancient times and exhibits a changing pattern of style and usage found nowhere else in the World. Beginning with the Pilgrims, Cape Cod was named by the famous Sea Captain Gosnold in 1602. The Pilgrims brought with them little furniture and architectural styles dating back to cozy English Cottages. Cape Cod homes also emphasized privacy for those travel weary settlers. Sea Captains developed and their families developed styles that would guard the sea in expectations of the return of the ships hence the name widows watch for majestic roof decks to look seaward.
History of Building Trends
Initially, the use of wood became the preferred building material because of availability and necessity. Shingles and clapboard helped create the style and the roof designs and other design features were for protection from the weather. Simplicity and frugality dominated the trends from historic times through today.
Evolving Building Styles
The Cape Cod style home has evolved to allow for expanded floor plans and modern living. Noted for uniquely designed additions that often were attached at sharp angles to existing homes, the requirements for families to gather inside a Great Room or family room with large dining rooms changed the exterior architecture.