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 [...]
June Review:
The main driver in the market right now is still low inventory which is currently and will continue to influence the real estate trends on Cape Cod for a while at least. As you take a look at our infographic, note that many indicators are now trending negative compared to last year. Closed sales, pending sales and [...]
April Review:
As we venture into April we can start comparing market numbers from COVID impacted months in 2020; put simply, the market now is far hotter than it was right at the start of the pandemic. As you can see in our "What's Up & What's Down?" graphic at right market activity is up in every category except for inventory and days on [...]
March Review:
The real estate market on Cape Cod continues to be exceptional. An interesting point in this month's data is that, for the fist time since June 2020, closed sales are actually down compared to the previous year. This suggests, more than anything, that inventory is so low we simply can't keep increasing the closed sales [...]