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Cape Cod Real Estate Prices - A Case Study

Everyone knows that Cape Cod real estate prices have soared over the last few years. Here’s a perfect example of what is going on. On one of my other Cape Cod websites, I had a forum where visitors can ask questions about Cape Cod & the Islands. One person asked about a cottage colony that they had stayed at years ago, and whether it was still operating. I told them that the property had been sold and I was unsure of it’s status. Periodically, I would revisit these forum posts to make sure the links are not out of date or broken.

So, I am clicking around on the links and see that the cottage colony that they asked about was again for sale. When I first responded to the person’s question, the page was showing that the cottage colony had sold 2 years earlier. When I revisited the link I saw it was for sale again. Originally sold in November of 2003 for $625,000, this cottage colony is for sale again for $1.1 million.

Lets’ do the math. Originally sold for $625,000 and for sale 2 years later for $1.1 million. OK, that’s just about 2 years or 730 days. So we take the price difference $475,000 and divide it by 730 and realize that the cottage colony’s value appreciated at a rate of $626.02 per day over those 2 years. Pretty amazing, huh? Not a bad investment if it sells at the asking price.

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