August Review:
The Cape Cod real estate market remains low on inventory and high on confusion. We have been inundated these last weeks with requests for a quick look into our crystal ball and an idea about when the top, or bottom, of the market will be. Unfortunately our crystal ball only reliably predicts the next day of the week. The driving force in the Cape Cod real estate market continues to be low inventory. How larger economic trends will impact the cost of borrowing money and mortgage rates specifically, we simply don't know. What we can say is that, if you need to buy or sell a house on Cape Cod, there are transactions happening, both cash and conventional, and we can make it happen.
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.
| May | June | July | Aug | |
| Closed Sales | 296 | 324 | 286 | 304 |
| Inventory | 428 | 504 | 558 | 553 |
| Median Sales Price | $749k | $711k | $686k | $700k |
| Avg Days on Market | 28 | 17 | 24 | 23 |
| Avg % of Original Price | 104.4% | 104.2% | 101.9% | 99.6% |