Location and lifestyle are driving the Cape’s real estate market.
When it comes to buying and selling real estate, the old adage, “location, location, location,” still rings true—and when it comes to Cape Cod’s real estate market, that motto is especially relevant. Realtors across the Cape agree that in the years following the real estate crash of 2008, Cape Cod’s market fared better than other parts of the state, and even the country. Though properties experienced a drop in values, in terms of the volume of properties the numbers held strong and, over the past few years, have even increased.
Local agents attribute the Cape’s stronger than average showing to its beautiful location and unique lifestyle attractions. Whether buyers are searching for a property with views of Cape Cod Bay, or a home in the village section of town, or a small cottage within walking distance of the beach, at the end of the day, they are all seeking the same thing—that famous Cape Cod experience. They are seeking the relaxed and casual lifestyle that comes from visiting or living in this world-famous seaside environment.
While the local market still has its share of buyers who want to call this place their home for 12 months a year as well as buyers seeking to retire in an area that, historically speaking, gets less snow than the rest of the state, agents say that there are still a good number of clients searching for that second home where they can truly relax, rejuvenate, and play—even if only for a few months.
Agents agree that it is the beautiful beaches, lush golf courses, and the overall Cape Cod lifestyle that continue to attract buyers to the region. A lack of available land has had little negative impact on the market with many buyers willing to buy a property in an area that they love and then renovate or tear down the house that may be sitting on it and build the home of their dreams.
Cape realtors have also been busy serving clients who are not quite ready to buy a second home, but still want to escape to the Cape each summer. The agents say that there has been no lack of renters searching for a piece of Cape Cod that they can call their own, even if only for a week or two during the summer months. Some agents say they have even seen an increase in the number of property owners who have decided to lease out their homes during the summer.
With plenty of golf courses, water activities, outstanding restaurants, and other amenities, the appeal to leave the city and retreat to a vacation spot like Cape Cod, whether for a few weeks, few months, or even permanently, appears to be on the rise. As many search for a less harried lifestyle in an environment that feeds their soul, nurtures their spirit, and promotes their emotional well-being, they don’t have to look any further than this unique coastal world.