APRIL HOUSING DATA: Pending sales up drastically on Cape Cod

According to preliminary data released today by the Cape Cod & Islands Association of REALTORS® (CCIAOR), 308 homes sold in April, 234 single family homes and 74 condominiums. Median sales price was $360,000 for a single family home and $289,500 for a condominium. Last April, 352 homes  (285 single family homes and 67 condos) sold at a median price of $325,000 for single-family homes and $265,000 for condominiums.

Year-to-date, 870 single family homes have sold for a median price of $360,000 and 225 condominiums have sold for a median price of $277,000 – compared to last year through April, 888 single family homes had sold for a median price of $346,000 and 208 condominiums had sold for a median price of $244,500.

“The closed sales totals are slightly behind last year due to the winter weather; however the pending  sales numbers are up, which shows the winter’s pent up demand went under contract in March and April,” said CCIAOR President Aleta Azarian.

Sales pending at the end of April were 583 for single-family homes and 176 for condominiums – a 63 percent increase for single-family and a 117 percent increase for condominiums, which will show up in closed home sales in the coming months. Last April, there were 357 pending single-family homes and 81 pending condominiums.

“The indicators and anecdotal evidence shows we’re off to a healthy spring buying season and we expect a good market for this year. Even though we are still at extreme low inventory levels, we’re seeing new listings rise year over year and inventory – albeit, slowly – come to the market and at times that new inventory is not lasting long,” Azarian continued.

At the end of April, there were 2,636 single family homes for sale and 601 condominiums for sale in the Cape Cod & Islands Multiple Listing Service. Last April, there were 3,403 single family homes and 803 condos listed as active for sale.

Data released reflects all residential and condominiums in the Cape Cod & Islands Multiple Listing Service for Barnstable County.

Click HERE for April’s Housing Statistical Reports.