Published October 2, 2026 in Market Update

Higher mortgage rates did not cool every part of Upper Cape

By Liza Elmstrom

Real estate, Upper Cape

CNBC reported the average 30-year fixed rate hit 7.30% on September 30, 2026. Realtor.com said rates crossed 7% for the first time since January 2025. That is real pressure on buyers. But the Real Estate Data Aggregator's numbers for the three months ending July 31, 2026 tell a more complicated story here on Upper Cape.

Speed is the headline

In several ZIP codes, buyers had to move fast. The Real Estate Data Aggregator counted more than 4 in 10 homes going under contract within two weeks of listing in five of the ZIP codes tracked. That share climbed year over year in most of them.

ZIP 02540, which covers part of Falmouth, led every ZIP code tracked. The Real Estate Data Aggregator counted 52.2% of homes there going under contract within two weeks. That share rose 20.7 points from the same period in 2025. Median days on market there fell 27 days shorter than a year before, landing at just 18 days.

Worth noting: the median sale price in 02540 dipped 10.8% from 2025, to $999,250. More homes sold, but at lower prices. That is a small, honest admission. Buyers got deals, and sellers still moved homes quickly.

North Falmouth and East Falmouth were just as fast

ZIP 02556, North Falmouth, hit exactly 50% of homes under contract within two weeks. The Real Estate Data Aggregator counted only 8 homes for sale there, down 42.9% from a year before. At 1.2 months of supply, there was almost nothing to choose from. The median sale price rose 3.7% to $1,062,500.

ZIP 02536, East Falmouth, was close behind at 45.5% under contract within two weeks. That share jumped 15.9 points from 2025. Median days on market fell 16 days shorter, to just 21 days. The Real Estate Data Aggregator counted 37.8% of homes there selling above list price, up 19 points from a year before.

Sandwich and Mashpee held their own

ZIP 02563, Sandwich, saw 40% of homes go under contract within two weeks, up 19.5 points from 2025. The Real Estate Data Aggregator counted 30.4% of homes selling above list price there, also up 13.7 points. Median days on market fell to 21 days.

ZIP 02649, Mashpee, counted 144 homes sold in the three months ending July 31, 2026. That is up 38.5% from the same period in 2025. Homes for sale dropped 26.5%. Median days on market fell 20 days shorter to just 29 days. The Real Estate Data Aggregator put 38.3% of homes there under contract within two weeks, up 12.2 points.

Not every ZIP moved the same way

Some ZIP codes were quieter. The Real Estate Data Aggregator counted 16.7% of homes in 02635, Cotuit, going under contract within two weeks. That share fell 22.4 points from 2025. ZIP 02668, West Barnstable, came in at 18.2%, down 15.1 points. ZIP 02534, Bourne, was at 20%, with no year-over-year comparison available.

ZIP 02537, East Sandwich, had 5.4 months of supply, up 2.8 months from 2025. That is the most breathing room of any ZIP tracked. Buyers there had more choices. The median sale price dipped 4.8% to $785,000. Still, 44.1% of homes there went under contract within two weeks, up 9.5 points from 2025.

What the rate picture means here

Realtor.com reported that nationally, 20.8% of listings took a price cut in September 2026. That is the highest share since October 2022. The Federal Housing Finance Agency put national home price growth at 2.6% year over year through July 2026. Upper Cape is not immune to rate pressure. But the Real Estate Data Aggregator's numbers show most ZIP codes here are still moving faster than a year ago, not slower.

One street can read very differently from the whole ZIP code. The numbers above are averages. Your home's style, condition and price point all shift where it lands. Happy to map what that looks like for your specific address.