Happy New Year, Cape Cod! 🎉 As we step into 2025, let’s take a closer look at how the local real estate market wrapped up in January. Whether you’re planning to buy, sell, or just curious about the housing landscape, here’s what you need to know.
🏠 Single-Family Homes on the Rise!
The single-family home market in Barnstable County showed some notable shifts:
- Pending Sales: Up by 11.5% 📈 (175 in 2025 vs. 157 in 2024)
- Closed Sales: Increased by 23.7% 🎉 (188 in 2025 vs. 152 in 2024)
- Median Sales Price: Rose to $742,500, marking a 7.2% jump 💰
- Inventory: Slight uptick of 2.5% (453 homes for sale)
- Months Supply of Inventory: Dipped to 1.9 months, a 9.5% decrease, signaling a tighter market
- Days on Market: Homes stayed on the market longer, averaging 66 days (+50%) ⏳
- Original List Price Received: A slight increase to 93.7%
What Does This Mean?
The demand for single-family homes is strong, as seen by increased pending and closed sales. Prices are on the rise, but homes are taking a bit longer to sell. If you’re thinking about selling, now could be a great time to list while inventory is still low.
🏢 Condominium Market: A Mixed Bag
The condo market saw both ups and downs:
- Pending Sales: Up by 5.9% 📈
- Closed Sales: Decreased by 19.5% (33 in 2025 vs. 41 in 2024)
- Median Sales Price: Increased to $480,000 (+6.7%)
- Inventory: A significant rise of 32% (169 condos for sale) 🏢
- Months Supply of Inventory: Jumped to 2.8 months (+33.3%)
- Days on Market: Longer selling times, now averaging 58 days (+45%)
- Original List Price Received: Decreased to 94.3%
What Does This Mean?
While more condos are hitting the market and prices are up, fewer are closing, and they’re taking longer to sell. Buyers have more choices, so if you’re looking for a condo, this could be your moment!
📊 Key Takeaways
- Sellers: Single-family homeowners could benefit from the strong demand and rising prices, but be prepared for slightly longer market times.
- Buyers: Inventory is slowly increasing, offering more choices. Act fast, though, as demand remains robust.
- Condo Buyers: With more condos available and longer market times, there might be room for negotiation.