CCIAOR releases August 2017 Cape Cod real estate statistics

Filed Under: More News

According to preliminary data released last week by the Cape Cod & Islands Association of Realtors (CCIAOR), 482 homes sold in August; 367 single-family homes and 115 condominiums. Median sales price was $396,000 for single-family homes and $267,500 for condominiums. Last August, 474 homes (382 single-family homes and 92 condos) sold at a median price of $385,275 for single-family homes and $290,000 for condominiums.
Year-to-date, 2,776 single-family homes have sold for a median price of $390,000 and 678 condominiums have sold for a median price of $265,000 – compared to last year through August, when 2,830 single-family homes had sold for a median price of $369,000 and 655 condominiums had sold for a median price of $269,000.
“The continuing decline of inventory of homes for sale on Cape Cod presents a potentially worrisome situation in the local marketplace. Strong demand-coupled with nearly historically low supply-will start to price buyers out of the market across income brackets should this trend continue”, said Gregory Murphy, President of the Cape Cod & Islands Association of Realtors. “Stronger inventory levels will create a much healthier market for both buyers and sellers and homeowners who have considered listing their homes can take advantage of a very favorable market at this time.”
Sales pending at the end of August were 370 for single-family homes and 88 for condominiums – a 8.2 percent decrease for single-family and a 2.2 percent decrease for condominiums, which will show up in closed home sales in the coming months. Last August, there were 403 pending single-family homes and 90 pending condominiums.
At the end of August, there were 2,194 single-family homes for sale and 513 condominiums for sale in the Cape Cod & Islands Multiple Listing Service. Last August, there were 3,073 single-family homes and 726 condos listed as active for sale.
Data released reflects all residential and condominiums in the Cape Cod & Islands Multiple Listing Service for Barnstable County.

Our latest Edition! Open in New Window

Menu

Please help regional biz news with 11k other Professionals.
Subscribe for weekly updates.

Your email is confidential and secret.