BARNSTABLE – Since the start of last summer, Cape Cod has seen a boom in real estate activity, and that trend remained consistent this past March.
Barnstable County Register of Deeds John Meade is reporting real estate volume was up about 12% from March 2020, while total volume of sales increased by 49%, and median individual property sale value increased about 16$.
In March total sales volume increased from about $784,500,000 to about $1,200,000,000.
As real estate on Cape Cod has become more and more coveted, homes are becoming more expensive throughout Cape Cod due to high demand and a shrinking supply. In March, the median sale price of property in Barnstable County was $470,000.
“From what I understand the listings are down, but the interest from the buyer market is still quite high,” said Meade.
Meade also said that he anticipated the market remaining strong for the foreseeable future.
“Obviously, things run their course and slow down, that’s an economic reality but I think if there was inventory it would move,” said Meade.
Although real estate volume and value percentages are on the rise across the board, some of the percentages might be inflated due to how COVID-19 negatively effected the market at this time last year.
“Statistics can be so misleading. Someone can say were up 125% but really were just up 15% of what we normally would be,” said Meade.
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