Market health at a glance
- Inventory is still very tight for both single-family homes and condos.
- Prices are up year-over-year across both property types.
- Single-family sales slowed, while condo sales jumped this month.
- Days on market increased, especially for condos—meaning homes are taking longer to sell than they were last year.
Trend 1: Inventory is shrinking and supply remains tight
What we’re seeing: Fewer homes are available for sale, and months of supply remains low for both single-family and condos.
Why it’s happening: New listings declined, which reduces overall inventory and keeps supply tight.
Trend 2: Median sale prices are rising
What we’re seeing: Median sale prices increased for both single-family homes and condos compared to last year.
Why it’s happening: Prices rose while supply remained limited. The report does not give a specific stated cause beyond the data.
Trend 3: Single-family activity cooled, while condo closings surged
What we’re seeing: Closed sales fell for single-family homes but rose sharply for condos. Pending sales declined for both property types (a forward-looking signal).
Why it’s happening: This month showed mixed activity, and the report notes that one month of data can appear more dramatic due to smaller sample size—particularly in the condo segment.
Trend 4: Homes are taking longer to sell
What we’re seeing: Days on market increased for both single-family and condos, with a much bigger jump on the condo side.
Why it’s happening: Marketing times were longer this month. The report does not provide a stated reason—only the measured increase.
Trend 5: Negotiation stayed steady for single-family, softened for condos
What we’re seeing: The percent of original list price received stayed about the same for single-family homes but declined for condos.
Why it’s happening: Condos showed longer days on market alongside a lower percent of list price received this month. The report notes these figures don’t reflect any seller concessions.
Bottom line for January
Cape Cod remains a low-inventory market with rising prices and slower timelines compared to last year. Single-family sales activity softened, condo closings spiked, and pending sales dipped—making this a month with a few mixed signals.
