2020 was an unusual year to say the least and the vacation rental market on Cape Cod was no exception. Local hotels and motels suffered as many vacationers were either unable to travel or reluctant to be in shared spaces. However, when comparing our experience as short-term vacation rental brokers to the hotel industry, we found the comfort [...]
December Review:
December's market performance continued the trend we have been seeing since June - massive seasonally adjusted increases in median price, closed sales, and new listings. Why? Massive seasonally adjusted decreases in inventory - December 2020 saw only 40% of the inventory of 2019. But these numbers are offset somewhat by [...]
November Review:
While 2020 is remarkable with exceptionally high median sales prices and low inventory, it is beginning to see the usual winter slow down - although this slow down still outpaces anything we have seen in the past. Median sales price in Barnstable county continues to climb and is up 33% from this time last year. [...]
October Review:
The Cape Cod real estate market continues its unprecedented year. Most remarkably is that median sales price remains at $550,000, up 25% from this time last year. What is driving this increase? Demand. Both closed sales and pending sales are up more than 40% from this time last year and inventory is incredibly low, at [...]
Every few years it is worth evaluating the costs and benefits of paying off your mortgage early. We'll discuss four scenarios with a home purchased for $450,000, 20% down and 2.75% interest on a 30 year fixed rate mortgage. For the purposes of this exercise we will be calculating principal and interest payments and not including mortgage [...]
September Review:
The Cape Cod real estate market continues its foray into uncharted waters. September saw the highest single family median sales price ever recorded in Barnstable County at $550,000. Additionally inventory remains incredibly low with only 921 homes available cape-wide. These two factors are putting incredible pressure on [...]
August Review:
We are in an unprecedented market on Cape Cod folks. Sellers are heavily favored in the current clime as we are seeing multiple offers over asking price on many properties, a norm previously only seen in super-hot markets like Boston, San Francisco and other booming urban areas. Inventory is down 51% from August last year [...]
July Review:
July, like June, saw a significant uptick in real estate activity on Cape Cod. Presumably buyers are seeing the benefits of the Cape lifestyle and, through demand, creating an exceptionally hot market. Closed sales and pending sales are both up significantly from this time last year leading to the dearth of inventory that is [...]
June Review:
June led to some interesting market outcomes. Obviously much of the real estate market, and society, continues to be influenced by the reality of COVID-19. This has, however, impacted the Cape Cod market in an unusual way. According to the [...]
May Review:
The May market felt continued pressure from COVID-19 resulting in uncharacteristically low new listings, closings and inventory. With so much pressure on the supply side, median sales price increased 6.4% from this time last year. Fortunately, Governor Baker's transition into phase 2 of reopening on June 8th has made both [...]