Inventory is building in certain price ranges... Overall inventory of single family homes is at it's highest since November 2020. However most of this buildup is occurring in the above median price range. Specifically, by the end of August there were 604 homes for sale for $740k (median) or more. All of Barnstable County had 166 of those homes for sale at the end of August. Median sales price for a single-family was $739k in August. The local Affordability Index is currently at 40, meaning median household income in Barnstable County is 40% of what it would take to purchase a median priced home. The Fed lowered interest rates by 50 basis points. FreddieMac reports average mortgage rates right around 6%.
