MARCH HOUSING DATA: Better weather boosting sales

March 2016 quick facts market update

According to preliminary data released today by the Cape Cod & Islands Association of REALTORS® (CCIAOR), 348 homes sold in March, 277 single-family homes and 71 condominiums. Median sales price was $340,000 for single-family homes and $210,000 for condominiums. Last March, 267 homes (216 single- family homes and 51 condos) sold at a median price of $365,000 for single-family homes and $245,000 for condominiums.

Year-to-date, 703 single-family homes have sold for a median price of $342,500 and 183 condominiums have sold for a median price of $260,000 – compared to last year through March, 636 single-family homes had sold for a median price of $364,000 and 152 condominiums had sold for a median price of $267,000.

“The first quarter of 2016 produced much milder weather than 2015, leading to more showings, more contracts and more sales,” CCIAOR President-Elect, Greg Murphy said. “Through the first quarter, sales are up 10%, pending sales are up 92% and inventory is lower by 20%. These conditions lead to a favorable situation for sellers as we enter the second quarter of 2016. The year-over-year numbers are in contrast to 2015, when the weather severely hampered
new listings, closed sales and showings, which all led to pending sales,” continued Murphy.
March 2016 market data closed salesSales pending at the end of March were 691 for single-family homes and 145 for condominiums – a 183.2
percent increase for single-family and a 158.9 percent increase for condominiums, which will
show up in closed home sales in the coming months. Last March, there were 244 pending single-family homes and 56 pending condominiums.

At the end of March, there were 2,164 single-family homes for sale and 553 condominiums for sale in the Cape Cod & Islands Multiple Listing Service. Last March, there were 2,746 single-family homes and 716 condos listed as active for sale.

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

2017-05-05T20:26:44+00:00

Leave A Comment