Cape Cod’s April Real Estate Numbers Show Strength

house for saleBARNSTABLE – April was a big month for real estate on Cape Cod as sales volume jumped and value rose.

The volume of real estate sales was up over 45 percent from April of 2015 and the total value of sales was up 21 percent from the same month last year.

There were 658 deeds recorded at the Barnstable Registry of Deeds last month compared to only 452 in April of 2015.

“It’s the strongest we’ve seen in – I’m looking back – at least four years,” Meade said. “I’m sure I could go back further.”

A major reason for the large increases from April of 2015 was the winter weather and storms that blanketed the region with snow in February and March.

“There was not a whole of activity [in 2015], but the year before we are still up over 100 deeds for the month,” Meade said. “So it was a significant month of activity.”

The median individual property sale value was $336,042 for April which was an increase of 4 percent from last year and a 12 percent increase from March of 2016.

The volume of mortgage activity was up 2.5 percent from April of 2015 levels.

For the year to date, volume of sales is up 28.4 percent and total value of sales is up 20.4 percent.

“From talking to folks, they say the low median market is extremely hot,” Meade said. “Inventory is tight at this point but there’s been a lot of activity and interest rates continue to be quite low and that is driving a lot of the activity.”

Meade believes the upper end of the market is doing fine and the middle end could use a boost. He also said if the lower end activity continues at this pace it should help the higher level markets.

“I don’t know how long it will last and I hope it lasts a while and hopefully it will get to the rest of the market as well,” Meade said.

Meade anticipates a decent May but feels it will be tough to beat the numbers from last June.

The weather last year caused less activity in April and May causing higher than normal figures in June and July.

“We’ll see. If this is a real reawakening then we will see that activity continue into June and July,” Meade said.


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