January Housing Market Update: Pending sales show strong buyer interest

According to preliminary data released today by the Cape Cod & Islands Association of REALTORS® (CCIAOR), 277 homes sold in January, 215 single-family homes and 62 condominiums. Median sales price was $348,000 for single-family homes and $277,000 for condominiums. Last January, 290 homes (231 single- family homes and 59 condos) sold at a median price of $350,000 for single-family homes and $285,000 for condominiums.

Year-to-date, 215 single-family homes have sold for a median price of $348,000 and 62 condominiums have sold for a median price of $277,000 – compared to last year through January, 231 single-family homes had sold for a median price of $350,000 and 59 condominiums had sold for a median price of $285,000.

“The market conditions clearly show there is no reason to wait to list your house. If you are thinking about selling, call a REALTOR® today. Inventory levels remain low in spite of pent-up demand. New properties coming on the market are generating a tremendous amount of interest, as evidenced by the pending sales we saw at the end of January,” CCIAOR President, Laura Usher said.

Sales pending at the end of January were 387 for single-family homes and 77 for condominiums – an 80.0 percent increase for single-family and a 54.0 percent increase for condominiums, which will show up in closed home sales in the coming months. Last January, there were 215 pending single-family homes and 50 pending condominiums.

At the end of January, there were 2,142 single-family homes for sale and 503 condominiums for sale in the Cape Cod & Islands Multiple Listing Service. Last January, there were 2,825 single family homes and 641 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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