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 indicate that we have passed the minimum supply level in this market cycle. However ever increasing median sales prices led to a 2% drop in affordability in April (down to 85), a point of growing concern for the long-term health of the Cape Cod real estate market. While single-family homes continue to be below 100 on the affordability index the condominium market has essentially been increasing its affordability since October 2018. Condominium affordability is at 144 on the index, which means Barnstable County's median household income is 144% of what is necessary to qualify for the median priced condominium.
|Median Sales Price||$408K||$421.5K||$425K|
|Avg Days on Market||130||120||120|
|Avg % of Original Price||91%||93%||94%|