Have housing prices peaked on Cape Cod?

Since mid 2020 prices for residential property in all 15 towns of Cape Cod have skyrocketed.

Have we hit the peak yet? We are recently seeing sale prices on purchase agreements UNDER the asking price…. and we are beginning to see the average sale price as a percent of list price to be UNDER 100%. This may mean that the spring market will be more favorable to buyers. Inventory is still lower than expected by many…. you may want an appraisal BEFORE you buy so you do not pay too much for your Cape home.