There is always opportunity in markets like this but you need to be prepared to hold your investment for 5 plus years in order to hit the jackpot.
The important things for a buyer to do when they are ready to purchase a home are: have a preapproval ready so you know what you can afford, check out various web sites to see what type of location and styles are available to you and then work with a good buyer's agent. They will listen to you wish list and try to locate just what you want in the price range you have to work with and then guide you in the buying process and negotiate the offer then help you with the rest of the sales process.
Great time to buy, so if you are getting less for your property, take it, move on and pay less for your upgrade
As you may know, the Cape has many second homeowners. Most second homeowners are financially stable and usually do not need to sell. Thus, I do not think prices have fallen that much, except in cases where the property was over-priced to begin with! if a house should have been $300,000 but the Seller listed it for $400,000 and then reduced it to $350,000.......I do not consider that as "prices are falling". It is important that if you are buying, that you use a reputable Buyer's Agent. A good Buyer's Agent will be able to explain the overall market here on the Cape. And, as a side note, as noted on the Barnstable County Registry of Deeds website- volume and prices are higher! Here in Provincetown, volume is also up!
A lady Jeanne posted that she has a house in Harwich that she needs to sell. I've sent her a link to your question. Maybe she will contact you and you can make a deal!
Sorry, I don't know the market well enough to answer you, but thought it would be cool to get you two together!