Sales steady, but better weather spurs big increase in pending sales

Febgrpahic

According to preliminary data released today by the Cape Cod & Islands Association of REALTORS® (CCIAOR), 252 homes sold in February, 205 single-family homes and 47 condominiums. Median sales price was $335,000 for single-family homes and $371,000 for condominiums. Last February, 233 homes (192 single-family homes and 41 condos) sold at a median price of $367,750 for single-family homes and $225,000 for condominiums.

Year-to-date, 424 single-family homes have sold for a median price of $342,750 and 110 condominiums have sold for a median price of $327,000 – compared to last year through February, 423 single-family homes had sold for a median price of $357,500 and 100 condominiums had sold for a median price of $272,500.

“The strong start to the spring market, evidenced by the high number of pending sales, is likely a reflection of an unseasonably mild winter, as well as historically low inventory levels. The 2016 spring market stands out in stark contrast to the 2015 spring market, which was hampered by record snowfall and cold,” CCIAOR President,
Laura Usher said.

Sales pending at the end of February were 453 for single-family homes and 104 for condominiums – an 119.9 percent increase for single-family and a 136.4 percent increase for condominiums, which will show up in closed home sales in the coming months. Last February, there were 206 pending single-family homes and 44 pending condominiums.

At the end of February, there were 2,170 single-family homes for sale and 511 condominiums for sale in the Cape Cod & Islands Multiple Listing Service. Last February, there were 2,751 single-family homes and 628 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

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