The headline in today's USA Today prompted me to post this information. The headline: "Home prices plunge further: Declines likely to go on as sales fall." Since all real estate is local, I thought I would post the following report. It is reprinted directly from the Barnstable County (Cape Cod, MA) Registry of Deeds website and it gives a good overview of the current housing market on the Cape.
VOLUME FLAT, VALUE DIPS!
Barnstable County Register of Deeds, John F. Meade, reports that the volume of real estate sales in October 2007 was down 0.2% from October 2006 volume and the total value of sales was up 3.5% from the previous year. The median individual property sale value was down 7.6% from the previous year. There was a 28.1% decrease in the volume of mortgage activity from October 2006 levels.
Year to Date: Volume of Sales is up 0.7%; Total Value of Sales is down 4.5%; Individual Sales Value is down 6.1%; Mortgage Volume is down 15%.
Register Meade reports that there were 527 deeds recorded at the Barnstable Registry of Deeds in October 2007 with stated sales values above $50,000.00 representing a stated value of $293,233,435.00 in county-wide real estate sales.
Based on all property sales valued above $50,000.00, the median sale price of property in Barnstable County in October was $345,000.00.
There were 1,380 mortgages recorded with values above $50,000.00 in October with a total value of $472,429,619.00. The median mortgage amount, commercial, residential or other, was $231,806.00.
By way of comparison, there were 528 deeds recorded at the Barnstable Registry of Deeds in October 2006 with stated sales values above $50,000.00 representing a stated value of $283,435,731.00 in county-wide real estate sales.
Based on all property sales valued above $50,000.00, the median sale price of property in Barnstable County in October 2006 was $373,500.00.
There were 1,920 mortgages recorded with values above $50,000.00 in October 2006 with a total value of $566,576,457.00. The median mortgage amount, commercial, residential or other, was $227,250.00.
REAL ESTATE ACTIVITY THROUGH OCTOBER 2007 AS COMPARED TO THE SAME PERIOD IN 2006.
2007 sales volume: 5,375
2006 sales volume: 5,337
2007 total sales value: $2,859,497,432.00
2006 total sales value: $2,992,712,927.00
2007 median sales price: $346,900.00
2006 median sales price: $369,400.00
2007 mortgage volume: 15,885
2006 mortgage volume: 18,681
2007 total mortgage value: $7,134,324,690.00
2006 total mortgage value: $7,459,200,354.00
2007 median mortgage amount: $228,000.00
2006 median mortgage amount: $216,000.00
TRAILING TWELVE MONTHS MEDIAN SALES VALUE:
(Sales values above $50,000.00)
M/Y Value % Differential/prior month
Oct 2006: $373,500.00 +3.8%
Nov 2006: $355,000.00 -4.8%
Dec 2006: $350,000.00 -1.4%
Jan 2007: $350,000.00 0%
Feb 2007: $338,750.00 -3.2%
Mar 2007: $349,000.00 +3%
Apr 2007: $340,000.00 -2.6%
May 2007: $325,000.00 -4.4%
June 2007: $338,000.00 +4%
July 2007: $345,500.00 +2.2%
Aug 2007: $355,000.00 +2.8%
Sep 2007: $387,500.00 +9.2%
Oct 2007: $345,000.00 -11%
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