Cape Cod Market Update November 2020
<p>October Review: <img alt="Oct Market update" class="featured" src="https://s3.amazonaws.com/files.usmre.com/6177/blog/Market%20Update%20Oct%202020.jpg" style="float: right; margin: 9px; height: 267px; width: 400px;" /></p>
<p> The Cape Cod real estate market continues its unprecedented year. Most remarkably is that median sales price remains at $550,000, up 25% from this time last year. What is driving this increase? Demand. Both closed sales and pending sales are up more than 40% from this time last year and inventory is incredibly low, at just under 2 months of inventory. Stay healthy and safe everyone! <a href="https://www.capecodchatelains.com/contact-us/">Contact us today</a>, we are always glad to discuss the market in further detail if you have questions. For more market data check out our blog category <a href="https://www.capecodchatelains.com/blog/category/real-estate-trends/"> Real Estate Trends.</a></p>
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<table align="center" border="1" cellpadding="10" cellspacing="10">
<caption>
<h2>Recent Market Summary</h2>
</caption>
<tbody>
<tr>
<td style="text-align: center;"> </td>
<td style="text-align: center;"> Aug </td>
<td style="text-align: center;"> Sept </td>
<td style="text-align: center;"> Oct </td>
</tr>
<tr>
<td style="text-align: center;"> Closed Sales </td>
<td style="text-align: center;"> 509 </td>
<td style="text-align: center;"> 559 </td>
<td style="text-align: center;"> 564 </td>
</tr>
<tr>
<td style="text-align: center;"> Inventory </td>
<td style="text-align: center;"> 1,019 </td>
<td style="text-align: center;"> 921 </td>
<td style="text-align: center;"> 808 </td>
</tr>
<tr>
<td style="text-align: center;"> Median Sales Price</td>
<td style="text-align: center;"> $545k </td>
<td style="text-align: center;"> $550k </td>
<td style="text-align: center;"> $550k </td>
</tr>
<tr>
<td style="text-align: center;"> Avg Days on Market </td>
<td style="text-align: center;"> 99 </td>
<td style="text-align: center;"> 97 </td>
<td style="text-align: center;"> 84 </td>
</tr>
<tr>
<td style="text-align: center;"> Avg % of Original Price </td>
<td style="text-align: center;"> 96% </td>
<td style="text-align: center;"> 97% </td>
<td style="text-align: center;"> 98% </td>
</tr>
</tbody>
</table>
October Review: 
The Cape Cod real estate market continues its unprecedented year. Most remarkably is that median sales price remains at $550,000, up 25% from this time last year. What is driving this increase? Demand. Both closed sales and pending sales are up more than 40% from this time last year and inventory is incredibly low, at just under 2 months of inventory. Stay healthy and safe everyone! Contact us today, we are always glad to discuss the market in further detail if you have questions. For more market data check out our blog category Real Estate Trends.
| Aug | Sept | Oct | |
| Closed Sales | 509 | 559 | 564 |
| Inventory | 1,019 | 921 | 808 |
| Median Sales Price | $545k | $550k | $550k |
| Avg Days on Market | 99 | 97 | 84 |
| Avg % of Original Price | 96% | 97% | 98% |