Cape Cod Real Estate Market Poised for a Strong Finish to 2024
December 13, 2024 Research & Data
According to preliminary data released by the Cape Cod & Islands Association of REALTORS® (CCIAOR), 202 single-family homes and 57 condominiums went under contract in November—a 15.4 percent increase for single-family homes and a 62.9 percent increase for condominiums, which will show up in closed-home sales in the coming months. Last November, there were 175 pending single-family homes and 35 pending condominiums.
Additionally, 331 homes were sold in November 2024: 262 single-family homes and 69 condominiums.
The median sales price for single-family homes was $739,000 and $545,000 for condominiums. In November 2023, 298 homes (228 single-family homes and 70 condos) sold at a median price of $772,500 for single-family homes and $530,000 for condominiums.
Inventory continues to rise, and new listings are coming on the market. There were 623 single-family homes and 185 condominiums for sale in the Cape Cod & Islands Multiple Listing Service in Barnstable County. Last November, 575 single-family homes and 150 condos were listed for sale, a 8.3 percent increase and a 23.3 percent increase, respectively. This is still historically very low and less than half of what the market had for sale pre-2020.
Cumulative days on the market for November increased 29 percent for single-family homes compared to last November, increasing from 31 to 40 days. Condominiums had a 154.2 percent increase in cumulative days on the market compared to last November, increasing from 24 to 61 days.
Data released reflects all single-family homes and condominiums in the Cape Cod & Islands Multiple Listing Service for Barnstable County.
