Cape Cod Market Update February 2019

January Review: 

  January followed the trend of the last few months of throwing trends out of the window.  The economy recovered much of the ground lost in December but still feels shaky to many investors.  As a result mortgage rates seem to be on uncertain ground as well, though they are still at historic lows hovering in the low 4% range.  The real estate market in Barnstable County is showing some interesting shifts.  Inventory is at 4.8 months, the same as December.  This is atypical for the past three Januarys which all showed a decline in inventory compared to December.  Additionally median sales price is down nearly 3% from this time last year and days on market are up by 7 days.  We are interested to see if increasing inventory and improved affordability will follow.

	Nov	Dec	Jan
Closed Sales	308	290	229
Inventory	1,968	1,614	1,626
Median Sales Price	$435K	$385K	$395K
Avg Days on Market	100	95	112
Avg % of Original Price	94%	93%	92%

Blog - Avoiding Fresh Paint Smells	December Review (in case you missed it)