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Cape Cod Market Update March 2022

February Review: Market Update

   We hate sounding like a broken record, but here goes anyway.  Inventory is as low as we have seen and continues to decline.  When drilling down into homes less than $650k, the dearth is even more concerning.  At the time of writing (3/15), there are 38 single family homes for sale in Barnstable County for less than $650k. New listings are not coming on the market at a rate needed to replenish inventory and larger market trends that we are watching, i.e. the expected rate hikes at the fed, have not yet come to pass.  For the foreseeable future, we expect the market to continue to favor sellers and be highly competitive for buyers.

 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.

Recent Market Summary

    Dec     Jan     Feb  
    Closed Sales    370     256     180  
   Inventory     285     231     225  
   Median Sales Price   $650k     $660k     $618k  
   Avg Days on Market    34     34     36  
   Avg % of Original Price    99.9%     99.3%     100.2%