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 sellers and buyers more comfortable with the transaction process so we expect to see activity pick back up in the market (in fact we have already seen activity start to increase). While June 2020 likely won't be as busy as June 2019, we expect to see positive trends towards a more normal market continue. Additionally, short-term seasonal vacation rentals are now open with some restrictions as well as increased cleaning requirements and, with restaurants starting to open with limited capacity/outdoor seating, the Cape is on its way to a subdued but wonderful summer. Stay healthy and safe everyone!
|Median Sales Price||$441K||$440K||$455K|
|Avg Days on Market||124||116||102|
|Avg % of Original Price||94%||95%||95%|