June 2019 Cape Cod Real Estate Market Statistics
July 18, 2019 Research & Data CCIAOR Data and Research
According to preliminary data released last week by the Cape Cod & Islands Association of REALTORS® (CCIAOR), 519 homes sold in June, 417 single-family homes and 102 condominiums. Median sales price was $450,000 for single-family homes and $315,000 for condominiums. Last June, 561 homes (439 single-family homes and 122 condos) sold at a median price of $435,000 for single-family homes and $322,500 for condominiums.
Sales pending at the end of June were 361 for single-family homes and 95 for condominiums – a 2.8 percent increase for single-family and a 5.9 percent decrease for condominiums, which will show up in closed home sales in the coming months. Last June, there were 351 pending single-family homes and 101 pending condominiums.
"While the Cape market is steady overall, we've seen real differences emerge between market segments." says CCIAOR President Joe Arnao. "Our members report that proper listing price is key, especially for homes priced below $300,000 or above $1,000,000, as buyers are jumping quickly on these properties. Sellers are facing challenges in the $500,000-$1,000,000 market, where an increased inventory level is allowing buyers to be choosier about listing condition and price."
New listings in June for single-family homes were 525, and 140 for condominiums. This is a 3.0 percent decrease, and a 1.4 percent increase respectively from last June, which had 541 new listings for single-family homes and 138 new listings for condominiums.
Cumulative days on market for June increased 9.3 percent for single-family homes compared to last June, rising from 97 days to 106 days. Condominiums also saw cumulative days on market increase compared to last June, rising from 80 days to 129 days, a 61.3 percent increase.
The CCIAOR Market Makers Confidence Index dropped 1 point to 69, meaning the top agents on Cape Cod are slightly more confident in the market this month. The Market Makers Confidence Index surveys the top 10% of members in the MLS on a scale of 1 to 100, with 100 being the highest confidence.
Data released reflects all residential and condominiums in the Cape Cod & Islands Multiple Listing Service for Barnstable County.
Town-by-town market reports and historical data can be found at CapeCodRealEstateStats.com