The Cape Cod and Islands Association of REALTORS® (CCIAOR) issues monthly and quarterly regional housing data to provide accurate and timely information about the real estate market on Cape Cod. Our reports give an overview on sale prices, days on market, new listing activity, supply and demand by price range and sales by region for residential properties in the association’s MLS. This article is based on insights from our members on who is buying real estate on Cape Cod.
As we end the third quarter of 2026, we see a steady increase in the total number of sales, the total volume of transactions, as well as a slight increase in the median and average sales prices. With an overall median sales price of $775,000, a 5.44% increase over the previous year, it’s fair to say that Cape Homes are holding their value.
People are looking for second homes. They are couples in their early to late 50s or early 60s, many who have children in high school or college. These buyers want a home to enjoy during the summer months and holidays, and they are buying in areas where they have cherished childhood memories. The importance of flex space and multigenerational living options drive many of the premium prices across the region. Provincetown is the only place where second home buyers are couples without children, between the ages of 40 to 50, as these buyers split their time working between home and office.
The Upper Cape region has investors purchasing properties, mainly for renovations and these listings are over the bridge in Wareham and Onset. This region is seeing first-time buyers in their 30s who are professional couples that saved their money by either receiving down payment assistance from their parents and/or living with them.
The Mid-Cape has first-time home buyers who are between 40 and 50 years old, which our members love to see. On the higher end, buyers are more discriminating about the price of a house, which is a change from COVID days where so many people purchased homes well over the asking price.
On the Lower Cape, buyers want turnkey homes, and they are looking at the functionality of the home. They want the primary bedroom suite on the first floor as well as most of their living space. People are coming from Boston, Connecticut, Virginia and Washington, D.C., to purchase a second home on the Lower Cape.
As for the Outer Cape, Provincetown and Truro do not have many first-time home buyers due to the price of housing. The prices have also kept investors away due to the short peak season. At the end of the third quarter 2026, Provincetown had the highest median sale price on the Cape at $1,725,000, a 49.4% increase over the same time in 2025. Wellfleet and Eastham have a more balanced mix of buyers that includes first time home buyers.
Cape Cod remains a vacation home destination for those who love our unique coastal region. As prices and transactions vary greatly by town, we believe it is increasingly important to hire a professional with local experience.
Betsy Hanson is the CEO of Cape Cod and Islands REALTORS®.