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 [...]
April Review:
April certainly was a little unusual. When the Spring market should have been in full swing much came to a grinding halt instead. Closed sales were down 22% from April 2019 and saw a decrease from March 2020, which is unusual as well. We expect the trend of low sales to continue into May since the lagging indicator of number [...]
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It’s May! Usually by this time, the Spring real estate market is well underway as everyone wants to be settled into their dream Cape home by the summer. Flowers are blossoming, I’m yelling at people doing the Bloom Run (don’t worry, it’s my parents), and all of my buyers are patiently enduring my lecture about putting in competitive offers [...]
As 2020 starts rolling into the Spring market, February brought some interesting happenings. February closings, inventory and supply of homes are all down nearly 20% compared to 2019. We did see a 15% increase in pending sales last month which may portend more closings in March. Inventory compared to January is on the [...]
We get a lot of questions from folks interested in the issue of housing affordability here on the Cape, so we thought we’d give a quick overview of the issue and some of the potential solutions being discussed. [...]