All of our monthly market updates
We are glad to see inventory building up in 2019. With approximately 5.8 months of inventory of single-family homes the market is reaching sustainability (particularly favoring neither buyers nor sellers). It is also worth noting that the year-over-year comparisons of month's supply has been up since July 2018 which could [...]
We'll go ahead and say it now, "this was a decent winter for weather." Why does this matter for the real estate market on Cape Cod? With the seasonality of sales here an easy winter sets up sellers to get their properties on the market earlier in the year: i.e. February and March instead of March and April. Last month [...]
February saw the beginning of the Spring market on Cape Cod and the numbers tell an interesting tale. We notice that average days on market has been steadily increasing while average percent of original price received has been declining. It seems that buyers in the market are responding to overpriced houses by waiting [...]
January Review:
January followed the trend of the last few months of throwing trends out of the window. The economy recovered much of the ground lost in December but still feels shaky to many investors. As a result mortgage rates seem to be on uncertain ground as well, though they are still at historic lows hovering in the low 4% [...]
Hello to all and Happy New Year! We wish you health and happiness for 2019
If we had to choose a word for December it would be: schizophrenic. Between large swings in the stock market, concomitant swings in the mortgage market and an uncertain future of rate hikes, frankly we feel a little addled. The local housing [...]
After a busier than usual late fall we are starting to see the seasonal cooling off around the holidays. Closed sales, inventory and median sales price were all down in November as both sellers and buyers tend to back off this time of year. We also note that with 5.8 months supply of inventory the market is healthier [...]
Median Sales prices continue to climb in both the single family and condominium markets and, as a result, we saw a considerable drop in the affordability index for Barnstable County in October. The inventory of homes dropped less than 2% since September and the current months of inventory, 6.6, is considered a healthy [...]
August Review: The big news here is that inventory continues to grow. We currently have 6.4 months of single family home inventory in Barnstable County as well as increasing number of homes for sale (labeled as inventory in the table below). Generally a market with around 5 and 6 months of inventory is considered healthy so we are [...]
June Review: The numbers for June continue the ongoing trends... compared to last year, median sales price of single family homes is up 10%, days on market is down 20% but inventory is even for the first time since 2009. Additionally, when we look at the first 6 months of 2018, months supply of inventory is up 40% from January, which may [...]
May Review: Last month was characterized by the Spring market frenzy. While 399 closed single family homes may not seem like much of a frenzy, compared to the January-April dearth, it was. Overall though, sales and inventory are down compared to this time last year, which we believe says more about the unusually busy 2017 market leaving us [...]