Cape Cod Market Update August 2019

July Review:

   Compared to this time last year, July saw only slight variation in four of the six metrics we investigate for this blog (pictured at right).  Days on market was up significantly compared to this time last year; however it was down compared to June.  Additionally the number of new listings was down nearly 15% compared to last year and lost about 9% compared to June this year.  With all of this in mind we are seeing a normal decline in market activity due to the seasonality of our area.  Nationally, mortgage interest rates are exceptionally low yet affordability continues to be a serious concern.

	May	June	July
Closed Sales	441	361	341
Inventory	2,032	2,067	2,044
Median Sales Price	$427K	$450K	$435K
Avg Days on Market	101	106	101
Avg % of Original Price	95%	95%	94%

Check out these two blogs for more valuable insight into real estate on Cape Cod

Our Take: Are sharks really taking a bite out of the Cod Cod Summer Rental Market?	Owning a Septic System on Cape Cod