Location, Location, Location: Cape Cod is a Seller’s Market

The Cape Cod Real Estate Market

One might think the midst of a global pandemic isn’t the time to ponder buying or selling. Well think again. Our new normal of social distance is lending itself to major life changes, for people of all ages and all walks of life. The real estate market is currently booming, particularly on Cape Cod, which is indicative of several factors in our economy and society. Working from home has become a more viable option for countless industries, opening up a whole new host of possibilities in terms of housing. The long commute is no longer a necessity, attracting more people to this side of the Bourne and Sagamore bridges.

But on Cape Cod, although we are known for our endless array of picture-perfect beaches and lighthouses from Falmouth to Provincetown, which tourists flock to each season from all over the world, we are also infamous for the shortage of inventory for those who call the Cape home. It’s no secret that tourism drives our economy, and many of the jobs on the lower end of the pay scale contribute to the life blood of the area’s ambiance and charm – chefs, waitstaff, baristas, musicians, fishermen, and artists – just to name a few. Many of these Cape Codders are also raising children or hoping to start a family, while contributing to the mainstay in vital industries such as education and healthcare – teachers, nurses, first responders and, as we have learned firsthand most recently – farmers and grocery store employees.

One of the positive aspects to the pandemic is the fact it has provided the opportunity to re-evaluate what is most important. For some, that means more time together, requiring more space – perhaps a sprawling home with an expansive backyard, making social distance doable, and a swimming pool to avoid the crowds. Or the other – a cozy condo or apartment, with access to public transportation and downtown amenities.

If you’re considering selling, think about how you can also make a positive contribution to the quality of life for another Cape Codder. Coastal Point Properties has our finger on the pulse of Cape Cod, and we can match you up with the perfect buyer. You never know how that transaction will create a positive ripple effect for years to come.