November Market Update

October Review: 

Median Sales prices continue to climb in both the single family and condominium markets and, as a result, we saw a considerable drop in the affordability index for Barnstable County in October.  The inventory of homes dropped less than 2% since September and the current months of inventory, 6.6, is considered a healthy amount in a residential market.  Additionally average days on market increased and percent of original sales price decreased, indicating a better market for buyers.  The strong economic metrics and assurance the Fed will raise rates coupled with booming jobs reports and increasing wages could mean some changes in the real estate market here in Barnstable County.

	Aug	Sept	Oct
Closed Sales	358	370	378
Inventory	2,182	2,291	2,252
Median Sales Price	$420K	$437K	$480K
Avg Days on Market	90	89	98
Avg % of Original Price	95%	95%	94%

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