According to preliminary data released last week by the Cape Cod & Islands Association of REALTORS® (CCIAOR), 393 homes sold in March; 324 single-family homes and 69 condominiums. Median sales price was $378,000 for single-family homes and $230,000 for condominiums. Last March, 368 homes (291 single- family homes and 77 condos) sold at a median price of $335,000 for single-family homes and $215,000 for condominiums.
Year-to-date, 796 single-family homes have sold for a median price of $372,750 and 173 condominiums have sold for a median price of $245,000 – compared to last year through March, 721 single-family homes had sold for a median price of $340,000 and 189 condominiums had sold for a median price of $265,000.
“The Cape Cod Real estate market is showing more signs of activity as we head into spring; an increase in pending sales is a hopeful sign of an active summer market. However, historically low inventory continues to exert upward pressure in the median sales price. If this trend continues, it will exacerbate the housing affordability crisis on Cape Cod as homebuyers and sellers fail to find homes in their desired price range.” said Greg Murphy, President of the Cape Cod & Islands Association of REALTORS®.
Sales pending at the end of March were 945 for single-family homes and 226 for condominiums – a 4.4 percent increase for single-family and a 19.6 percent increase for condominiums, which will show up in closed home sales in the coming months. Last March, there were 905 pending single-family homes and 189 pending condominiums.
At the end of March, there were 1,954 single-family homes for sale and 485 condominiums for sale in the Cape Cod & Islands Multiple Listing Service. Last March, there were 2,812 single-family homes and 685 condos listed as active for sale.
Data released reflects all residential and condominiums in the Cape Cod & Islands Multiple Listing Service for Barnstable County.
Detailed town-by-town statistics are available at CapeCodRealEstateStats.com.