According to preliminary data released last week by the Cape Cod & Islands Association of Realtors, 423 homes sold in December, 353 single-family homes and 70 condominiums. Median sales price was $424,000 for single-family homes and $310,000 for condominiums. Last December, 474 homes (386 single-family homes and 88 condos) sold at a median price of $376,150 for single-family homes and $263,500 for condominiums.
Year-to-date, 4,215 single-family homes have sold for a median price of $400,000 and 1,071 condominiums have sold for a median price of $279,000 – compared to last year through December, 4,429 single-family homes had sold for a median price of $375,000 and 1,022 condominiums had sold for a median price of $274,500.
“We finished 2017 where we expected – a slight decrease in closed sales and an increase in median sales price all driven by the historic low inventory levels. Year-round and seasonal buyer demand are not going to wane on the Cape in the foreseeable future as long as the demand remains pent up. Inventory levels will continue to determine the health of the real estate market for 2018.” Said Gregory Murphy, 2017 President of the Cape Cod & Islands Association of Realtors.
Sales pending at the end of December were 253 for single-family homes and 56 for condominiums – a 14.5 percent decrease for single-family and a 23.3 percent decrease for condominiums, which will show up in closed home sales in the coming months. Last December, there were 296 pending single-family homes and 73 pending condominiums.
Data released reflects all residential and condominiums in the Cape Cod & Islands Multiple Listing Service for Barnstable County.
