The middle of 2020 through the middle of 2021 was a historic run for Cape Cod real estate but as the year came to a close, the number of sales began declining as housing sales inventory has been nearly completely depleted with a lack of new housing replacing those coming off the market.
According to preliminary data released last week by the Cape Cod & Islands Association of REALTORS® (CCIAOR), 473 homes sold in October, 365 single-family homes and 108 condominiums. Median sales price was $640,000 for single-family homes and $415,500 for condominiums.
According to preliminary data released this week by the Cape Cod & Islands Association of REALTORS® (CCIAOR), 533 homes sold in September, 416 single-family homes and 117 condominiums. Median sales price was $625,500 for single-family homes and $400,000 for condominiums.
Cape Cod Real Estate Prices Level Off in August as Market Activity Continues Return to Normal
The 12-month frenzy fueled by buyers seeking refuge and respite on Cape Cod has subsided as market activity is returning to pre-pandemic levels.
Well, it looks like we will all be waiting a bit longer for the shift in the market.
