March Review:
The Cape Cod real estate market continues to languish in abysmally low inventory levels. For comparison, the number of homes for sale in March in Barnstable county in the years before the pandemic were; 2017 : 2,412 --- 2018 : 1,971 --- 2019 : 2,288 --- 2020 : [...]
February Review:
We hate sounding like a broken record, but here goes anyway. Inventory is as low as we have seen and continues to decline. When drilling down into homes less than $650k, the dearth is even more concerning. At the time of writing (3/15), there are 38 single family homes for sale in Barnstable County for less than [...]
We’ve spilled gallons of ink this year describing how difficult the market is for buyers and speculating about the policy and housing production solutions needed to turn things around. But what about buyers who need to buy something right now? Are they out of luck? Absolutely not!! The market may be crazy, but there is a method to the [...]
January Review:
The Cape Cod real estate market continues its trends of high prices and low inventory, but there may be a change in the air...or not. The graphic at right illustrates how the market compares to January 2021. If you can remember that far back, January was the start of the true frenzy before "Percent of Original Price [...]
December Review:
December closed out 2021 much as expected, with low inventory and continued high prices; however, there are a few things worth pointing out. First, the seasonal supply curve in 2021 followed the more typical trend seen before the pandemic. This seasonality sees more homes come on the market in the Spring, Summer and early [...]
November Review:
We are running out of superlatives to describe the Cape Cod real estate market at this point. Median Sales price continues to climb and is at an all time high for single-family homes, $660,000. Months supply of inventory is just over one month, and less than a month for homes less than $650,000 -- remember that 5-6 months [...]
October Review:
The Cape Cod real estate market remains starved for inventory which continues to drive prices up. However there is good news if you are a buyer (and frankly we are a long way off from bad news for sellers). First, homes are spending longer on the market (30 days) than they were at the minimum in June (22 days). Second, [...]
Sept Review:
The Cape Cod real estate market is slowly becoming more predictable, though it is far from what we had been used to. Let's take a look at how the market has been evolving for the past few months. First, median sales price remains at record highs and is steadily increasing. We have seen median sales price increase overall [...]
Aug Review:
August saw the continued increase in single family home inventory; however because of the high amount of buyer activity, the added number of homes for sale was not enough to improve the months supply of inventory (which is now at 1.4 months). The short story, low inventory continues to drive the real estate market on Cape [...]
July Review:
The real estate market on Cape Cod continues with the same trends we have now seen for months. Inventory is (very) slowly creeping up but remains far too low to meet demand from buyers. By comparison, in July 2020, there were 1,184 single family homes on the market, in July 2021, it was only 544. Currently single family [...]