Q: "What is the relationship of sale price to asking price in the current residential market?"
A: There is not a common pattern amongst the three outer Cape towns, but in many segments of the residential market, we have seen a slight drop during the past 12 months in the percentage of sale price to list price. Keep in mind, however, that these percentages do not reflect original list prices. Many of the properties that sold experienced one or more price reductions during the course of their time on the market, and the statistics that are published reflect the percentage of Sale Price to current list price. For examples of this in chart form for Provincetown, Truro and Wellfleet, see this entry on provincetownrealestate.com.
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