Real Estate Bourne MA, Cape Cod Market in March 2021
Bourne MA, Cape Cod Real Estate Market in March 2021
The Bourne MA Real Estate Market on Cape Cod in March 2021 is busy and crazy. Like the rest of the Massachusetts' real estate markets, Bourne has limited inventory and rising prices. The pictures below show some of the data that we see.
With around 5,000 properties spread out on both sides of the Cape Cod Canal, Bourne is an average Cape Cod real estate market in terms of possible properties to buy. As of this writing, there were 27 available properties in Bourne in February, and today on the 29th of March there are only 19. Inventory is a real problem for our customers and clients who are trying to get their year round home and summer vacation homes settled.
Holly and I are resorting to using "real estate wish lists" for specific buyers in order to hunt for possible properties, that might be for sale. Some of them surface in the MLSs, and some are locked up in estate processes because of Covid. All of of the transactions we have been able to get together are at prices above what we would normally see without the Covid influence.
However, the Covid influence does appear to be stronger because we are near the end of the +-10 year cycle that real estate tends to follow. The last approximate real estate cycle trough on Cape Cod was around 2012. Coupled with the inventory scarcity, the ten year cycle is higher than it might have been without the Covid push.
There are still many many buyers looking to have an "out of the city" residence, as well as the normal buyers looking for a great property to frequent on The Cape for vacation. Experienced licensees (those with more than 10 years experience) know that there will be a turn and so are working with buyers to carefully purchase and mitigate the cycle adjustment that will be coming. Inexperienced licensees are just hoping this will continue forever.
We do have more calculators available than we ever have. Professionals know the places to watch and use for value calculations. Buyers can rely on the math to a certain extent. But knowledge of location, conditions, and styles have replaced the strict location location location axiom of the past. Buying correctly may mean buying a certain condition of a certain style as close to in a certain area as possible, but all three may not be available.
Of course being prepared to lose out is also a requirement. There are bidding wars on almost all lietings. Being a prepared buyer with knowledge of how to look at a property so you can decide if a home inspection needs to be informational or not is key. And knowing your own financial strength is very very important if you are going to make a strong offer. If you aren't the cleanest offer, sometimes even the highest price doesn't seal the deal with sellers these days.
Looking at the data below, there are barely enough homes available to bid on today when compared to the average number of sales over the past months and years. If you're aiming to buy a home in Bourne MA this year, make sure you know your strength as a buyer, and be ready to scrutinize the property with the eye of an inspector. Using an experienced licensee is the ace in the hole for getting good advice and for pricing history of a neighborhood, town, and even a specific property that has sold in the past ten years.
If you need a local professional licensee, Holly and I are willing to work - and it is work. We're thoughtful, thorough, and responsive. If you're looking Off Cape and/or outside MA, we are linked with seasoned and experienced licensees in every other part of the country. Call us, text us, or email and we'll get you connected.
Best wishes, Heath & Holly Coker
Heath Coker, Associate Broker
Berkshire Hathaway HomeServices Robert Paul Properties
508-548-8888 c (Android) / 508-274-5613 c (Apple) / 508-540-9800
Holly Coker, Senior Sales Associate, 508-274-5612 / 508-540-9800
It's a beautiful day on Cape Cod! Licensed in MA