Cape Cod Market Report April 2018 – Sale Prices Continue to Rise

WEST YARMOUTH, MA—(May 17, 2018) According to preliminary data released last week by the Cape Cod & Islands Association of REALTORS® (CCIAOR), 425 homes sold in April, 329 single-family homes and 96 condominiums. Median sales price was $399,000 for single-family homes and $307,450 for condominiums. Last April, 425 homes (340 single-family homes and 85 condos) sold at a median price of $385,000 for single-family homes and $262,000 for condominiums.

Year-to-date, 1,038 single-family homes have sold for a median price of $400,150 and 276 condominiums have sold for a median price of $284,000 – compared to last year through April, 1,150 single-family homes had sold for a median price of $378,000 and 265 condominiums had sold for a median price of $252,000.

“We have a lot of buyer interest and a lot of seller interest, unfortunately they are not in the same price range right now. With a healthy level of inventory in the luxury market, buyers working with a professional REALTOR can find good value in the market; sellers under $500,000 with a home ready to sell can find great value. Until the inventory puzzle is solved, the median sales price will continue to rise – and this will become the new normal.” says Martha Knapp, President of the Cape Cod & Islands Association of REALTORS®.

Sales pending at the end of April were 348 for single-family homes and 87 for condominiums – a 7.4 percent decrease for single-family and a 4.8 percent increase for condominiums, which will show up in closed home sales in the coming months. Last April, there were 376 pending single-family homes and 83 pending condominiums.

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

Town-by-town statistics available here: http://capecod.stats.10kresearch.com/reports

2018-05-17T21:34:17+00:00
X