BARNSTABLE – The Cape Cod real estate market saw another strong month during its slowest quarter.
The Barnstable County Register of Deeds John Meade reports that the volume of real estate sales in February was up 11.5 percent from last year and the total value of sales saw an 18.5 percent increase from 2017.
The median individual property sale value was also up 8.5 percent from February of 2017 to $363,500.
“That’s just a solid, solid month,” said Meade.
There were 406 deeds recorded in February which was a 6.8 percent decrease from 2017.
“In the grand scheme of things it’s not huge, but as February’s go it was excellent,” Meade said.
For the year to date, the volume of sales is up 6.8 percent, the total value of sales is up 15.5 percent and individual sales value is up 2.9 percent.
There were 785 mortgages recorded with values above $50,000 in February with a total value of $300,840,305. The median mortgage amount for commercial, residential or other was $250,000.
There was a 6.8 percent decrease in the volume of mortgage activity from February of 2017 levels.
Meade said the interest rates are still pretty low and does not believe a slight increase has affected sales significantly.
“We are still at very low rates for those of us who have been around for a while. They still look pretty good,” Meade said. “It does effect, obviously, the [refinance] market and things like that.”
Meade said March is the last month of the county’s slowest real estate quarter but that he does expect activity to pick up through the month and into spring.
“Knock on wood we’ll see that same trend happen this year,” he said. “I hope we see it in nice solid numbers and if February is any indication I’m hoping that trend continues and we have a nice solid year for real estate.”
By BRIAN MERCHANT, CapeCod.com NewsCenter
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