The Cape Cod real estate market continues to show resilience and growth, with both single-family homes and condominiums seeing positive trends this month. Let’s dive into the numbers and see what’s happening across Barnstable County! 🌊
📊 Single-Family Homes
- Pending Sales: Up by 41.6%! (310 compared to 219 last year) #MoreBuyers
- Closed Sales: A steady increase of 3.8%, bringing a total of 276 closed sales this month.
- Median Sales Price: Up 3.0% to $825,000. This shows a modest yet stable appreciation in home values across the county. #CapeCodLiving
- Inventory: With 743 homes on the market, there’s a 19.5% boost in inventory, helping to ease supply constraints. #MoreChoices
- Months Supply of Inventory: Up to 3.1 months, an increase of 10.7% from last year, giving buyers a bit more breathing room. #HousingSupply
- Days on Market: Homes are staying on the market longer – up 59.4% to an average of 51 days. This could signal that buyers are taking their time and evaluating their options more carefully. #PatiencePays
- New Listings: Up 10.9%, bringing fresh options for prospective buyers! #NewListings
🏢 Condominiums
- Pending Sales: Up 15.3% this month with 83 pending condo sales. #CondoLife
- Closed Sales: Holding steady with no change from last year, totaling 71 closed sales.
- Median Sales Price: Significant growth of 25.0%, with the median price reaching $600,000. Cape Cod condos continue to be a popular choice! #CondoLiving
- Inventory: Up 23.5% with 205 condos available, helping to meet rising demand. #HousingInventory
- Months Supply of Inventory: Increased by 25.9% to 3.4 months – a sign of market balance for condos. #MarketTrends
- Days on Market: Rising to 51 days, up 41.7%, indicating a cooling pace for transactions. #MarketTiming
- New Listings: A slight increase of 4.2%, adding more choices for those considering condo living on the Cape.
🏡 Market Takeaways
Overall, the Cape Cod real estate market shows a healthy increase in activity and inventory, especially in single-family homes, while condominiums remain steady with rising median prices. The increased time on the market may mean we’re moving toward a more balanced market, offering opportunities for both buyers and sellers. 📈🌞
As always, working with a knowledgeable local agent can help you navigate this dynamic market with confidence. #CapeCodRealEstate #MarketUpdate #HomeSweetCape