Cape Cod Market Update October 2019

September Review:

  The fall market is looking lackluster now that the September numbers are in.  With new listings, closings, and inventory down we did not see as significant an amount of activity in the market as this time last year.  With inventory countywide at a 6 month month level,  neither buyers nor sellers see a great advantage currently.  Not all markets are seeing this balance though so don't hesitate to check in if you are curious about a certain subset of the market (i.e. towns or price ranges).  Additionally, the lack of new listings may lead to a further drop in supply of inventory but fewer buyers in the market may not result in much change going into the usually slower holiday season.  Nationally a strong economy and low mortgage rates are helping to keep the real estate market active.

For more market data check out our blog category Real Estate Trends.

	July	Aug	Sept
Closed Sales	341	382	339
Inventory	2,044	2,082	2,090
Median Sales Price	$435K	$431K	$452K
Avg Days on Market	101	90	98
Avg % of Original Price	94%	94%	94%

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

5 Things to do before listing your home	Shellfish Season is Here!