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Cape Cod Market Update January 2021

December Review: Nov Market update

 December's market performance continued the trend we have been seeing since June - massive seasonally adjusted increases in median price, closed sales, and new listings.  Why?  Massive seasonally adjusted decreases in inventory - December 2020 saw only 40% of the inventory of 2019.  But these numbers are offset somewhat by a large increase (33%) in new listings as well - we are seeing supply come on the market in response to increased demand, leading to a 39% increase in closed sales.    So what's the moral?  Depends on which side of the table you are on.  For buyers, don't lose hope!  Surely demand is outstripping supply, but we are seeing historically high numbers of homes come on the market to meet that demand.  Make sure your ducks are in a row and you are ready to pounce when the right home comes on.  For sellers, there has absolutely never been a better time to sell your home on Cape Cod than this very moment.  

Whichever seat you are in, whether buying or selling, the professionals at Chatelain Real Estate are here to give you the expert advice you will need to make your transaction a success. For more market data check out our blog category Real Estate Trends.  

Give us a call any time - we look forward to hearing from you.

 

 

 

Recent Market Summary

    Oct     Nov     Dec  
    Closed Sales    564     457     491  
   Inventory     808     724     542  
   Median Sales Price   $550k     $585k     $570K  
   Avg Days on Market    84     63     57  
   Avg % of Original Price    98%     98%     98%  

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