Cape Cod Market Update October 2020

September Review: 

 The Cape Cod real estate market continues its foray into uncharted waters.  September saw the highest single family median sales price ever recorded in Barnstable County at $550,000. Additionally inventory remains incredibly low with only 921 homes available cape-wide.  These two factors are putting incredible pressure on buyers by resulting in multiple offer scenarios and many homes being sold for over asking price, indicating the desperation for housing on Cape Cod.  While this market seems good for sellers in the short term, an unsustainable housing market on the Cape is not good for anyone, even sellers. 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.

	July	Aug	Sept
Closed Sales	582	509	559
Inventory	1,128	1,019	921
Median Sales Price	$499k	$545k	$550k
Avg Days on Market	106	99	97
Avg % of Original Price	95%	96%	97%