Real Estate Sales Volume Dips, Value Rises in February

BARNSTABLE –The Barnstable County Register of Deeds reports that real estate sales volume has dipped but value has continued to rise for the month of February.

The volume of real estate sales was down 15.2 percent from February of 2016 and the total value of sales was down 9 percent over last year.

“The main reason we didn’t have the volume, to my taking, is that we had three fewer business days this February than we did last year, so that probably explains why we were down volume-wise,” said Register of Deeds Jack Meade.

The median individual property sale value was up 8.6 percent from the previous year and there was a 11.2 percent decrease in the volume of mortgage activity from February 2016 levels.

The median sale price of property in Barnstable County last month was $335,000.

For the year-to-date, volume of sales is up 1.3 percent, total value of sales is up 1.7 percent, individual sales value is up 8.8 percent and mortgage volume is up 5.4 percent.

The number of foreclosure deeds decreased from 20 in February of 2016 to 15 last month, or a 25 percent decrease. They are up 8 percent for the year-to-date.

Meade believes that the next few months will be better for real estate activity in Barnstable County.

“My expectation is that we start to see our volume numbers pick up slowly as the spring gets started, and then we’ll have a nice second quarter of the spring,” said Meade. “April, May, June is usually one of our busiest sections of the year.”

By JUSTIN SAUNDERS, CapeCod.com Newscenter

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