April 2017 Cape Cod Real Estate Statistics: Prices Rise, Pending Sales Fall

According to preliminary data released this week by the Cape Cod & Islands Association of REALTORS® (CCIAOR), 403 homes sold in April, 325 single-family homes and 78 condominiums. Median sales price was $399,125 for single-family homes and $273,500 for condominiums. Last April, 479 homes (388 single- family homes and 91 condos) sold at a median price of $365,000 for single-family homes and $268,000 for condominiums.

Year-to-date, 1,129 single-family homes have sold for a median price of $380,000 and 256 condominiums have sold for a median price of $251,750 – compared to last year through April, 1,109 single-family homes had sold for a median price of $352,000 and 280 condominiums had sold for a median price of $265,000. 

“The decrease in closed home sales does not mean decreased buyer activity. In fact, we are seeing the opposite — continued strong buyer activity and buyers acting quickly when they find a house they want. However, the historically low inventory levels are causing those prices to rise and shrink closed sales just due to the lack of supply.” noted Gregory Murphy, President of CCIAOR.

Sales pending at the end of April were 362 for single-family homes and 78 for condominiums – a 17.7 percent decrease for single-family and a 23.5 percent decrease for condominiums, which will show up in closed home sales in the coming months. Last April, there were 440 pending single-family homes and 102 pending condominiums.

At the end of April, there were 2,103 single-family homes for sale and 487 condominiums for sale in the Cape Cod & Islands Multiple Listing Service. Last April, there were 2,944 single-family homes and 718 condos listed as active for sale.

Data released reflects all residential and condominiums in the Cape Cod & Islands Multiple Listing Service for Barnstable County.

For more Cape Cod real estate statistics, visit CapeCodRealEstateStats.com .

 

2017-05-12T14:31:07+00:00