WEST YARMOUTH – The Cape Cod and Islands Association of Realtors has released their report on data from April.
It shows that a total of 326 homes were sold for a median price of $439,900 for single family homes and $303,250 for condominiums. Just over 100 more homes were sold last April, but the median price values have gone up.
CEO Ryan Castle said the decline in the total amount of sales was to be anticipated due to the ongoing COVID-19 pandemic.
“There’s less listings on the market, less buyers wanting to go in houses,” Castle said.
“So, we expect a decline in the real estate market.”
Sales pending at the end of the month were down around 43% for single family homes and about 56% for condos compared to April of 2019. New listings were also down, around 58% for single family homes and about 63% for condos.
Castle said that is not due to a lack of interest, though, as the value of homes is still holding strong. He attributed that aspect to inventory.
“It’s the simple supply and demand,” he continued.
“As supply shrinks and demand stays strong, prices go up.”
Castle said that while in-person visits might be declining as of late due to the virus outbreak, online searches have increased. Online views for listed homes jumped up 11% from March to April, according to the association.//
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