PROVINCETOWN, TRURO AND WELLFLEET 4Q2025 FIGURES
A MORE BALANCED AND STABLE MARKET IS GOOD FOR BOTH BUYERS AND SELLERS
A stable market is the kind of real estate market that is good for everyone. Sales and prices equal to last year, and a slight increase in inventory levels, illustrate a strong and consistent market especially in Provincetown. In fact, Provincetown numbers are so close to last year’s that it is uncanny! The one dramatic development is the 28% increase in single-family sales. Inventory levels have increased in the last several quarters as well, creating some welcome market balance in 2025.
More inventory creates more choices for buyers and more competition for sales within each category. Still, when compared with many other markets, our inventory is still limited. Stubbornly higher interest rates – currently around 6.5% – will continue to affect the market.
We must always remember when analyzing the Outer Cape real estate market, that the sample sizes are small compared with other markets on the rest of the Cape and elsewhere. One outsized sale in any market can skew averages wildly. Provincetown and Outer Cape.
PROVINCETOWN
In Provincetown, condominium sales were equal to last year – 113 vs. 113 last year. The average price of condos sold was $1.1M – exactly what it was last year too! Talk about stability. Only 10% of condominium sales were over-asking vs. 27% last year. This means, 90% of properties are selling at or below asking prices.
There are 29 condominiums on the market listed in MLS as of January 15 vs. 25 last year. The average asking price for these condominiums is $1.5M ($1,526 PSF).
Single-family home sales were up a whopping 28% from 29 sales last year to 37 sales this year! The average sales price increased 1% from $2.24M to $2.5M. Last year, single-family sales increased 53% over 2023. It’s great to see that single-family sales are back – a function of more choices for buyers.
Currently, there are 21 single-family properties on the market with an average asking price of $3.2M ($1,367 PSF). Last year there were 19.
TRURO AND WELLFLEET
Truro and Wellfleet had a more mixed performance, but still pretty consistent with last year’s numbers.
The average single-family sales price in Truro was down 13% from $1.6M to $1.4. Sales were up 3% to 38.
Currently, there are 14 single-family properties on the market with an average asking price of $2M ($835 PSF).
Truro condominium sales were down 20% to 16 from 20 last year. The average sale price was down 7% from $535K last year to $500K currently. There are only 7 condominiums on the market – with an average asking price of $737K ($955 PSF).
In Wellfleet, the average sales price of single-family homes was up 2% from $1.1M to $1.3M. Sales were up 6% to 56 from 53. There are currently only 7 single-family properties on the market in Wellfleet with an average asking price is $1.1M ($591 PSF).
Most importantly, we are all hoping that 2026 brings peace and a much-needed respite from all the drama and the uncertainty occurring throughout the world
As we begin the New Year, we will continue to see strong market activity as buyers search for their special home here on the Outer Cape. Moderating prices and stable inventory levels will undoubtedly have a strong effect on sales in 2026. And patient buyers, who are actively searching for a new home here on the Outer Cape, will hopefully find just what they are looking for in the new year. Even as some of these – and other outside forces – effect the Provincetown and Outer Cape real estate market, we can still take comfort in knowing we will continue outperform most other markets. How lucky are we!
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As always, my goal is to keep you engaged in the Outer Cape Real Estate market by providing you with news and market developments as they happen. Watch for interesting stories in your email and on social media here at jon.goode.com. I look forward to seeing you soon. In the meantime, leave it to me to keep you informed. Stay well.