WEST YARMOUTH, MA—(April 11, 2019) According to preliminary data released last week by the Cape Cod & Islands Association of REALTORS® (CCIAOR), 355 homes sold in March, 291 single-family homes and 64 condominiums. Median sales price was $421,500 for single-family homes and $261,500 for condominiums. Last March, 325 homes (262 single-family homes and 63 condos) sold at a median price of $412,050 for single-family homes and $275,000 for condominiums.
Sales pending at the end of March were 347 for single-family homes and 82 for condominiums – a 7.1 percent increase for single-family and a 15.5 percent
increase for condominiums, which will show up in closed home sales in the coming months. Last March, there were 324 pending single-family homes and 71 pending condominiums.
“The all-around increase in market activity this March is impressive.” commented CCIAOR President Joe Arnao. “With months supply of inventory
at almost 6 months, the market could be considered balanced were it not for the continued rise in median sales price, which clearly favors sellers. With all market indicators trending up, we are looking at a healthy spring market. The main issue facing this market continues to be housing affordability pricing out the move-up buyers and sellers looking to downsize, causing them to hold on to property that no longer fits their needs.”
New listings in March for single-family homes were 564, and 124 for condominiums. This is a 21.0 percent increase, and a 22.8 percent increase respectively
from last March, which had 466 new listings for single-family homes and 101 new listings for condominiums.
Cumulative days on market for March decreased 4.8 percent for single-family homes compared to last March, falling from 126 days to 120 days. Condominiums also saw cumulative days on market decrease compared to last March, falling from 98 days to 91 days, a 7.1 percent decrease.
Data released reflects all residential, single family residences and condominiums in the Cape Cod & Islands Multiple Listing Service for Barnstable County.
Detailed town-by-town reports and historical data can be found at CapeCodRealEstateStats.com