Cape Cod Market Update January 2022

December Review: 

 December closed out 2021 much as expected, with low inventory and continued high prices; however, there are a few things worth pointing out.  First, the seasonal supply curve in 2021 followed the more typical trend seen before the pandemic. This seasonality sees more homes come on the market in the Spring, Summer and early Fall while new listings taper off in the later fall and winter. While the annual inventory cycle seems to be returning, it is coupled with abysmally low number of homes for sale, especially in the median home price market.  Second, the trend for fast sales and homes selling at or above list price continues.  Buyers are clearly still interested in getting into the Cape market and are willing to pay for it. Finally, we saw a slight dip in median sales price in December, but this too follows a more usual seasonal sale price pattern, with a slight dip around the holidays due to less market activity.

  We are still keeping our eyes on the mortgage rates (which are ticking up slowly) as well as larger economic factors, such as the Fed's end to bond buying in March.

 Whichever seat you are in, whether buying, selling or vacation renting, the professionals at Chatelain Real Estate are here to give you the expert advice you will need to make your transaction a success. For more market data check out our blog category Real Estate Trends.  You can also give us a call any time - we look forward to hearing from you.

	Oct	Nov	Dec
Closed Sales	365	363	370
Inventory	469	367	285
Median Sales Price	$640k	$660k	$650k
Avg Days on Market	30	26	34
Avg % of Original Price	99.8%	99.5%	99.9%