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. Additionally, the months supply of single family homes is 1.7, which is a substantially lower than the 5-6 months in a healthy, slightly seller favored, market. As we drill down even more, there are only 0.6 months supply of single family homes priced from $297k - $419k (that is only 57 total homes for sale in this price range in all of Barnstable County). These factors continue to depress the affordability of homes on Cape Cod which is something that will have broader implications in the future local economy. If you are considering selling your home, now is a great time to do so. Even with the seasonal slowdown commencing, buyer appetite for homes on Cape Cod remains unsated and we expect the low inventory and exceptionally low mortgage rates to continue driving higher sale prices
Stay healthy and safe everyone! Contact us today, we are always glad to discuss the market in further detail if you have questions. For more market data check out our blog category Real Estate Trends.
|Median Sales Price||$550k||$550k||$585k|
|Avg Days on Market||97||84||63|
|Avg % of Original Price||97%||98%||98%|