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Cape Cod Real Estate Sets New All-Time Median Price
Cape Cod Real Estate Sets New All-Time Median Price.
According to preliminary data released on Friday November 16th, Cape Cod Real Estate Sets New All-Time Median Price. The Cape Cod and Islands Association of REALTORS® (CCIAOR) reported a $49,900 increase over last October's median price for single family homes. The condominium median sale price was also above last October by $47,650. This is only 7 more total homes sold in t2018 than in 2017. The median price increased, even as more inventory comes on the market. Demand has stayed strong and prices have gone higher, but read on.
Comparing 2018 to 2017 Year-to-Date sales in number of units, 3,372 single-family homes have sold in 2018 which is 184 less houses than in 2017. This still resulted in an increase in the median price for a house on cape cod by almost $30,000. Similarly, 19 fewer condos sold in 2018 compared to 2017, with the median price also higher by $25,000.
This trend appears to be continuing so far. Based on pending sales at the end of October 2018, there were 362 for single-family homes and 89 for condominiums, which is a 6.7 percent decrease for units of single-family homes and a 11.9 percent decrease for ... more
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