Published October 18, 2026 in Market Update

Upper Cape has a few very tight pockets, even with rates above 7%

By Eric Rollo

Real estate, Upper Cape

Realtor.com reported that mortgage rates climbed above 7% for the first time since January 2025. That is the backdrop for every buyer and seller in Upper Cape right now. But the Real Estate Data Aggregator counted homes across this market for the three months ending August 31, 2026, and the picture is not uniform. A few pockets are still very tight. Others have more room.

The tightest spot: 02632

The Real Estate Data Aggregator counted just 1.3 months of supply in ZIP 02632 for the three months ending August 31, 2026. That is the lowest of any ZIP code in this market. Homes for sale there dropped 36.4% from a year before. Buyers have fewer choices, and sellers have less competition.

02556 and 02562: nearly as tight, and fast

The Real Estate Data Aggregator put 02556 at 1.8 months of supply, down 1.7 months from a year before. Nearly 44% of homes there went under contract within two weeks, up 10.5 points year over year. ZIP 02562 also sits at 2 months of supply. There too, 43.8% of homes went under contract in two weeks.

Speed still matters in the tightest ZIPs

Realtor.com noted that 20.8% of listings nationally took a price cut in September, the highest share since October 2022. Upper Cape's tightest pockets are not seeing that same softness. In 02537, 45.2% of homes went under contract within two weeks, up 23 points from a year ago, per the Real Estate Data Aggregator. In 02540, that share was also 45.2%, up 17.5 points.

Not every ZIP is tight

Some parts of Upper Cape have more breathing room. The Real Estate Data Aggregator counted 4.6 months of supply in 02537, up 2.2 months from a year ago. ZIP 02540 came in at 4.1 months, up 1.3 months. ZIP 02655 sits at 4.3 months. More supply means buyers have more time. It also means sellers need to price carefully.

ZIP 02543 is its own story. The Real Estate Data Aggregator counted just 1 home sold there in the three months ending August 31, 2026, with 24.5 months of supply. That is a very small, slow-moving slice of the market. One sale can shift every number, so read those figures with care.

What rates mean for this market

Fannie Mae forecast the average 30-year fixed rate at 7.4% for the fourth quarter of 2026, according to CNBC. They also forecast 7.5% for all of 2027. That is real cost pressure for buyers financing a purchase. But the Federal Housing Finance Agency reported U.S. home prices still rose 2.6% from July 2025 to July 2026. Prices nationally are not falling, even with rates where they are.

For Upper Cape, the story is mixed. Median prices dipped a little in some ZIPs. In 02649 the Real Estate Data Aggregator showed a median sale price of $640,000, down 3.4% from a year before. In 02559 it was $680,000, down 12.3%. But in 02532 it was $630,000, up 16.6%. And in 02536 it was $879,500, up 14.1%. Prices are moving in different directions depending on where you look.

What this means for you

If you own in a tight ZIP like 02632 or 02556, well-priced homes are still getting real attention. The Real Estate Data Aggregator showed sale-to-list ratios of 97.5% and 99.4% in those two ZIPs. Sellers are not giving away much. If you are buying, speed still matters in those pockets. In the looser ZIPs, you have more time to be deliberate.