Barnstable County on Pace for Sustainable Sales Increase

According to preliminary data released today by the Cape Cod & Islands Association of REALTORS® (CCIAOR), 472 homes sold in May, 379 single family homes and 93 condominiums. Median sales price was $375,000 for single family homes and $225,000 for condominiums. Last May, 490 homes (383 single family homes and 107 condos) sold at a median price of $370,000 for    single-family homes and $234,000 for condominiums.

Year-to-date, 1,254 single family homes have sold for a median price of $365,000 and 320 condominiums  have sold for a median price of $261,000 – compared to last year through May, 1,271 single family homes   had sold for a median price of $353,000 and 315 condominiums had sold for a median price of $240,000.

“As expected, the Barnstable County market is on pace for a healthy, sustainable sales increase this year compared to last year. While we are one percent behind in closed sales, an extreme high number of pending sales continue to show many properties are in the process of closing – delayed from the usual timing due to the winter weather we had. When these properties close, year over year closed sales should show moderate, sustainable increase,” said CCIAOR President, Aleta Azarian.

At the end of May, 691 single-family homes and 172 for condominiums were pending sale – an 84.8 percent increase for single-family and a 75.5 percent increase for condominiums, which will show up in closed home sales in the coming months. Last May, there were 374 pending single family homes and 98 pending condominiums.

“Inventory continues to come on the market as there is more to choose from now two to three months ago.   If you haven’t looked to see what is on the market recently, it’s time to call a REALTOR® and see what is on the market to take advantage of continued low interest rates,” Azarian continued.

At the end of May, there were 2,902 single family homes for sale and 637 condominiums for sale in the Cape Cod & Islands Multiple Listing Service. Last May, there were 3,638 single family homes and 846 condos listed as active for sale.

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

2017-05-05T20:26:46+00:00

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