FEBRUARY 2026 SNAPSHOT
YTD February 2026: Outer Cape Real Estate Overview
Through February 2026, the Outer Cape market continues to show the measured pace typical of early season. Truro led in transaction volume with 7 single-family closings, while Provincetown saw its median single-family price climb to $2.15M. New listing activity dropped sharply across all three towns, signaling tight supply heading into spring.
Wellfleet's single-family median surged 61.6% year-over-year to $1.13M, though with only 4 closings, this reflects the composition of individual transactions rather than a broad shift. Sale-to-list ratios remain healthy across the board, confirming that well-priced properties continue to attract serious buyers.
February 2026: Median Sale Prices
Source: Cape Cod & Islands Association of REALTORS (CCAIOR) via InfoSparks. YTD through February 2026.
TOWN ANALYSIS
Market Performance by Town
Provincetown
Strong Pricing, Measured Pace
Single-Family Homes (YTD February 2026)
- Median Sale Price: $2,150,000 (+27.3%)
- Closed Sales: 2 transactions
- Median Days on Market: 11 days
- Homes for Sale: 17 properties
Condominiums (YTD February 2026)
- Median Sale Price: $807,500 (-27.5%)
- Closed Sales: 8 transactions
- Median Days on Market: 42 days
- Homes for Sale: 30 properties
February is still early season on the Outer Cape with limited transaction volume. Small sample sizes can create large year-over-year swings that reflect individual property characteristics rather than broader market shifts.
Truro
Volume Leader with 7 Single-Family Closings
Single-Family Homes (YTD February 2026)
- Median Sale Price: $945,000 (-12.1%)
- Closed Sales: 7 transactions
- Median Days on Market: 34 days
- Homes for Sale: 12 properties
Condominiums (YTD February 2026)
- Median Sale Price: $494,000 (+62.0%)
- Closed Sales: 1 transaction
- Median Days on Market: 148 days
- Homes for Sale: 8 properties
Truro led the Outer Cape in single-family transaction volume with 7 closings (+40% YoY), generating $7.1M in dollar volume. The median sale price of $945K reflects a 12.1% decline year-over-year, driven by the mix of properties sold rather than weakening demand. Sale-to-list ratio of 98.4% remains strong.
Wellfleet
Surging Prices with Very Tight Inventory
Single-Family Homes (YTD February 2026)
- Median Sale Price: $1,131,250 (+61.6%)
- Closed Sales: 4 transactions
- Median Days on Market: 55 days
- Homes for Sale: 9 properties
Condominiums (YTD February 2026)
- Median Sale Price: $695,000
- Closed Sales: 1 transaction
- Median Days on Market: 84 days
- Homes for Sale: 3 properties
Wellfleet's single-family median surged 61.6% to $1.13M, but with only 4 closings, this reflects the composition of individual transactions. Just 1.9 months of supply and zero pending sales signal extremely tight conditions. No prior-year condo comparison is available as there were zero condo sales in YTD February 2025.
MARKET TRENDS
Comparative Analysis
Single-Family Median Sale Price by Town (YTD February 2026)
Condo/Townhouse Median Sale Price by Town (YTD February 2026)
New listing activity dropped sharply across all three Outer Cape towns, with single-family new listings down 69-78% year-over-year. This supply constraint heading into spring positions well-prepared sellers for strong results.
KEY INSIGHTS
What This Means for Buyers & Sellers
For Buyers
Supply Constraints Demand Preparation
With new listings down 69-78% across all three towns, buyers face tight inventory heading into spring. Properties that are well-priced continue to move, and competition for quality homes remains real.
- Provincetown single-family homes sold in just 11 median days on market
- Truro offers the most transaction volume with 7 single-family closings YTD
- Condo inventory in Provincetown (30 units) provides more selection
- Wellfleet's 1.9 months supply signals very competitive conditions
For Sellers
Low Inventory Creates Opportunity
New listing activity is at its lowest in years, creating a window for sellers who list early in the spring season. Sale-to-list ratios of 96-99% confirm that proper pricing leads to strong outcomes.
- Single-family new listings down 69-78% across all Outer Cape towns
- Truro sale-to-list ratio of 98.4% reflects strong buyer conviction
- Spring listing preparation should begin now for optimal positioning
- Professional presentation continues to differentiate in a selective market
DATA SOURCES
Methodology & Sources
This report reflects transactions in Provincetown, Truro, and Wellfleet only, excluding broader Cape Cod data.
Data Source: Cape Cod & Islands Association of REALTORS (CCAIOR) via InfoSparks. YTD through February 2026.
Last updated: March 4, 2026. Note: February is still early season on the Outer Cape with limited transaction volume. Small sample sizes can create large year-over-year swings that reflect individual property characteristics rather than broader market shifts.