July Market Report: Housing sales up from last year, pendings way up

According to preliminary data released today by the Cape Cod & Islands Association of REALTORS® (CCIAOR), 493 homes sold in July,  390 single-family homes and 103 condominiums. Median sales price was $355,000 for single-family homes and $245,000 for condominiums. Last July, 412 homes (328 single family homes and 84 condos) sold at a median price of $330,000 for single-family homes and $277,250 for condominiums.

Year-to date, 2,122 single family homes have sold for a median price of $360,000 and 559 condominiums have sold for a median price of $249,900 – compared to last year through July, 2,027 single family homes had sold for a median price of $350,000 and 504 condominiums had sold for a median price of $250,000.

“We’re now in full summer swing! Traditionally, this is the time when future buyers want to find their own little piece of the Cape. Closed sales are growing, thus a higher median sales price continues to show we’re in a good real estate market that has balance for both buyers and sellers,” stated CCIAOR President, Aleta Azarian.

Sales pending at the end of July were 606 for single-family homes and 147 for condominiums – a 74.1 percent increase for single-family and a 77.1 percent increase for condominiums, which will show up in closed home sales in the coming months. Last July, there were 348 pending single-family homes and 83 pending condominiums.

“Moving forward, pending sales numbers show extremely positive signs that interest has sustained from the pent-up demand of the early spring bad weather. We’re still borrowing buyers that would have put a house under contract in February, March and April,” Azarian continued.

At the end of July, there were 2,999 single family homes for sale and 655 condominiums for sale in the Cape Cod & Islands Multiple Listing Service. Last July, there were 3,750 single family homes and 867 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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