May 25, 2021 Research & Data CCIAOR Data and Research
April 2021 Cape Cod Market Report
Analysis of how the Cape Cod market performed in April, 2021
Analysis of how the Cape Cod market performed in April, 2021
Homes are routinely selling for at and above, sometimes far above, their asking price in the Cape Cod market, marking the strong demand for homes on Cape Cod, yet showing the little inventory there is to choose from, setting a new and potentially troubling norm for the market as we head into the busy spring and summer market.
Home sale activity is unusually robust so far in 2021, according to the February housing market statistics released by the Cape Cod & Islands Association of REALTORS® this week.
The Cape Cod market started of 2021 by continuing its blistering pace from the record-setting year of 2020, with median sales price, pending and closed sales pushing ever higher while inventory and days on market continue to drop to lows hardly ever seen in this region.
The Cape Cod market completed a remarkable year in 2020, with strong recovery from the initial COVID-19 pandemic beginning in mid-May resulting record-breaking market activity through the end of the year.
Demand for Cape Cod real estate remained strong in November, as 577 homes sold and the median sales price climbed to $585,000 for single-family homes. However, several key indicators showed signs of things beginning to slow as a shortage of homes for sale begins to impact the market.