We are running out of superlatives to describe the Cape Cod real estate market at this point. Median Sales price continues to climb and is at an all time high for single-family homes, $660,000. Months supply of inventory is just over one month, and less than a month for homes less than $650,000 -- remember that 5-6 months worth of inventory felt tight in 2018 and 2019, so 1 months worth of inventory is abysmally limited. Sellers are still receiving nearly 100% asking price though the amount is not quite as high as the peak in the late Spring and early Summer.
There may be a change in the air though. With recent announcements that the federal bond buying will end as soon as March and interest rates expected to rise again, we expect this to affect the market one way or another.
Whichever seat you are in, whether buying, selling or vacation renting, 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. You can also give us a call any time - we look forward to hearing from you.
|Median Sales Price||$626k||$640k||$660k|
|Avg Days on Market||23||30||26|
|Avg % of Original Price||101%||99.8%||99.5%|