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 [...]
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 [...]
Buyers are looking for homes that sparkle. Some homes for sale on Cape Cod have been recently renovated and benefit from fresh paint, new floors or carpets, and updated appliances in the kitchen, bath or both. A home with newer updates is definitely more appealing to buyers (but worth it? Please see our thoughts here) and with our simple trick you too can make your home look its best without spending thousands of dollars.
Ready? Vinegar, warm water, elbow grease. No kidding. Too often we see homes that are, quite simply, dirty. Many sellers do a decent job cleaning their homes by sweeping, vacuuming, and mopping floors. What so many people miss are the walls! Spend a little time with some diluted white vinegar and wash every surface in your home. You will be amazed at how much grime can appear on a rag from, what you thought was, a 'clean' flat wall. Spend a little extra time by beds, furniture, paintings, and anywhere that people touch (light switches, around door knobs etc...). Haven't you noticed that light discoloration on the wall when you move the bureau? When your home is empty and that bureau is gone, every potential buyer walking through will notice it as well. Another great tip: use a 'Magic Eraser' or similar product for larger marks, but be careful, these can change the texture of paint which is very visible in certain light.
If you are trying to squeeze every ounce of potential value out of your homes consider this inexpensive way to make it more appealing to buyers. When someone walks in and can see everything that is wonderful about your home without the distraction of dirty walls, you give yourself a great shot at a higher sale price!
If you are considering listing your home, please give us a call to put two generations of tradition and three decades of experience in your pocket. And to see a few houses that don't need this treatment take a look at some of our listings here. Or for some more tips for homeowners check out our blogs tagged here.
Are you interested in the health of the Cape Cod real estate market? How it compares to Massachusetts' real estate trends? We have had some time to review the market data from 2019 and have some interesting findings to report. We'll take a few key points and break them [...]
After the holidays the January market saw an increase in new listings which was up nearly 14% from January 2019. We are hopeful this trend will continue and result in more months supply of inventory as we enter the Spring season. We also note several trends in other metrics that indicate what the Spring may look like. Days [...]
The numbers are in for December 2019. When considering the fall market we see that closed sales have remained relatively consistent but new listings have not kept pace so inventory has been declining since September. Compared to December in 2018, inventory is down approximately 21% and new listings about 17%; this coupled [...]