August Market Report – Strong Seller’s Market

 WEST YARMOUTH, MA—(September 24, 2015) According to preliminary data released today by the Cape Cod & Islands Association of REALTORS® (CCIAOR), 387 homes sold in August,  303 single-family homes and 84 condominiums. Median sales price was $365,000 for single-family homes and $305,000 for condominiums. Last August, 453 homes (350 single-family homes and 103 condos) sold at a median price of $384,400 for single-family homes and $300,000 for condominiums.
Year-to-date, 2,434 single-family homes have sold for a median price of $361,500 and 646 condominiums have sold for a median price of $256,000 – compared to last year through August, 2,377 single-family homes had sold for a median price of $355,000 and 607 condominiums had sold for a median price of $260,000.

“As the summer season winds down, second homeowners are closing up their summer homes. Many are making decisions about whether or not to sell their property or permanently live on the Cape year-round. During this process, they will realize that it is a strong seller’s market with home prices currently on the upswing,” stated CCIAOR President, Aleta Azarian.

Sales pending at the end of August were 613 for single-family homes and 146 for condominiums – a 77.7 percent increase for single-family and a 43.1 percent increase for condominiums, which will show up in closed home sales in the coming months. Last August, there were 345 pending single-family homes and 102 pending condominiums.

“We have many serious homebuyers in the fall, especially when they can tour the inventory of homes that were occupied with owners or renters throughout the summer. It’s also a great time of year for buyers before the cold winter months set in,” continued Azarian.

At the end of August, there were 3,077 single-family homes for sale and 664 condominiums for sale in the Cape Cod & Islands Multiple Listing Service. Last August, there were 3,843 single-family homes and 866 condos listed as active for sale.

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

2017-05-05T20:26:45+00:00

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