CCIAOR Releases November 2019 Cape Cod Market Report
December 17, 2019 Research & Data
According to preliminary data released last week by the Cape Cod & Islands Association of REALTORS® (CCIAOR), 411 homes sold in November, 334 single-family homes and 77 condominiums. Median sales price was $439,250 for single-family homes and $289,800 for condominiums. Last November, 502 homes (407 single-family homes and 95 condos) sold at a median price of $429,900 for single-family homes and $295,000 for condominiums.
Sales pending at the end of November were 296 for single-family homes and 82 for condominiums – a 9.2 percent decrease for single-family and a 6.5 percent increase for condominiums, which will show up in closed home sales in the coming months. Last November, there were 326 pending single-family homes and 77 pending condominiums.
“Market performance slid in November, relative to prior months. 2019 was a consistent year as a whole, so it remains to be seen if this was merely a soft month. Given the otherwise healthy year, robust economy and high level of broker confidence from the CCIAOR Market Makers survey, we are anticipating a more active than usual holiday market, rebounding from a quiet November.” Noted Joe Arnao, 2019 President of CCIAOR.
New listings in November for single-family homes were 266 and 70 for condominiums. This is a 10.7 percent decrease, and a 5.4 percent decrease respectively from last November, which had 298 new listings for single-family homes and 74 new listings for condominiums.
Cumulative days on market for November increased 4.8 percent for single-family homes compared to last November, rising from 104 days to 109 days. Condominiums saw cumulative days on market decrease compared to last November, dropping from 105 days to 85 days, a 19 percent decrease.
Data released reflects all single-family and condominiums in the Cape Cod & Islands Multiple Listing Service for Barnstable County.
The CCIAOR Market Makers Confidence Index rose two points to 68 out of 100, a slight increase from the rating of 66 out of 100 in October.
For detailed town-by-town reports and historical statistics, please visit CapeCodRealEstateStats.com