Blog :: 12-2020

After more than 25 years of living, working and playing on Cape Cod we have a lot to share about the area.  Our blog topics run the gamut from fun things to do, working with contractors, and homeownership tips and tricks, so check back frequently to see what's new.  If you have questions or would like to learn more about Cape Cod or owning property on this beautiful peninsula please contact us for more information and to set up a showing for any listing. 

Cape Cod Market Update December 2020

November Review: Nov Market update

  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.

 

 

 

Recent Market Summary

    Sept     Oct     Nov  
    Closed Sales    559     564     457  
   Inventory     921     808     724  
   Median Sales Price   $550k     $550k     $585k  
   Avg Days on Market    97     84     63  
   Avg % of Original Price    97%     98%     98%