Published October 25, 2026 in Market Update

Lower Cape sales rose even with mortgage rates above 7%

By Liza Elmstrom

Real estate, Lower Cape

Mortgage rates topped 7% in September 2026 for the first time since January 2025, according to Realtor.com. Most people expected that to slow things down. On the Lower Cape, it did not.

The Real Estate Data Aggregator counted 79 homes sold across Orleans, Chatham, and North Chatham in the three months ending August 31, 2026. That is up 11.3% from the same stretch a year before. Pending sales rose 8.6% too, so the pipeline heading into fall looks solid.

Here is the catch. The Real Estate Data Aggregator shows homes for sale fell 22.8% from a year ago. More buyers, fewer choices. That combination shapes everything you see below.

What rates are actually doing nationally

CNBC reported the average 30-year fixed rate at 7.41% as of October 21, 2026, down slightly from 7.50% the week before. That is still high. Nationally, CNBC also reported mortgage purchase applications fell 7% for the week and were 18% lower year over year. The Lower Cape held up better than that national picture suggests.

Orleans (02653): fastest movers

The Real Estate Data Aggregator counted 30 homes sold in Orleans in the three months ending August 31, 2026, up 7.1% from 2025. The median sale price came in at $876,250, down 2.6% from a year before. So prices softened a little, but demand did not disappear.

Speed is the real story in Orleans. The Real Estate Data Aggregator put the median days on market at 25, which is 27 days shorter than the same period last year. Nearly 37% of homes went under contract within two weeks of listing, up 27.1 points year over year. Sellers who priced right did not wait long.

Chatham (02633): most sales, tightest supply

Chatham led the Lower Cape with 37 homes sold, up 12.1% from 2025, according to the Real Estate Data Aggregator. The median sale price was $1,250,000, down 4.5% from a year ago. Prices dipped a little, but homes moved fast. The median days on market was just 20, nine days quicker than last year.

Supply tightened hard here. The Real Estate Data Aggregator counted 40 homes for sale, down 14.9% from 2025. At 3.3 months of supply, Chatham has the least inventory of the three towns. Nearly 44% of homes went under contract within two weeks, up 4.9 points year over year.

North Chatham (02650): highest prices, rising fast

North Chatham is the smallest slice of the Lower Cape market. The Real Estate Data Aggregator counted 12 homes sold in the three months ending August 31, 2026, up 20% from 2025. The median sale price was $2,375,000, up 13.1% from a year ago. That is the only town of the three where prices rose.

Supply is very tight here. The Real Estate Data Aggregator counted just 10 homes for sale, down 23.1% from 2025. Months of supply dropped to 2.6. One thing to note: the share of homes going under contract within two weeks fell 22.2 points to 11.1%. With only 12 sales, that shift reflects a small number of homes, not a trend you can count on.

How the three towns compare

What this means if you own here

Nationally, Realtor.com reported that 20.8% of listings took a price cut in September 2026, the highest share since October 2022. The Lower Cape is not immune to that pressure. Two of the three towns saw median prices dip. But the speed numbers and the sale-to-list ratios say well-priced homes are still finding buyers quickly.

Supply is the thing to watch. The Real Estate Data Aggregator shows 88 homes for sale across the Lower Cape, down 22.8% from a year ago. Fewer choices for buyers means less competition for sellers who price well from the start.

One more thing: these numbers cover whole ZIP codes. One street can read very differently from the ZIP code average. The home two doors down may have sold faster or slower, higher or lower, than what you see here.