Cape Cod Real Estate Volume Remains Flat in April

HYANNIS – Real estate sales on Cape Cod are slightly behind the first quarter of last year.

Barnstable County Register of Deeds John Meade reports that the volume of sales in April remained flat from the year before with a drop of 0.5 percent.

“The reality is those sales that we were missing were foreclosure deeds,” Meade said. “Actually, it is a positive if you look at it. We are ahead on sales for actual transfers that weren’t related to foreclosures.”

There was an increase in total value of sales from last April of 4.7 percent and the median individual property sale value was up 2.4 percent to $379,000.

“We are plodding along. It’s not terrible, but nothing outstanding either,” Meade said.

January and February, which are usually the slowest months for real estate on Cape Cod, were slower than normal. Real Estate did pick up in March before the remaining flat in April.

“So we are only 2.5 percent down in terms of the volume of sales from last year,” Meade said. “We are about where we were last year, maybe slightly behind, but only by about 20 to 25 sales over the course of four months.”

The total value of sales is up 5 percent for the year-to-date. The individual sales value is up 1.5 percent and mortgage volume is down 9.1 percent.

Meade said that the rainy month may have helped contribute to the volume of sales remaining flat.

“If it is pouring rain out nobody wants to get out of their car to go look at the yard,” Meade said.

Meade said he is hearing mixed feelings from realtors about whether the current trend of the real estate market will continue through the spring and summer.

“Some say they have a lot of things in the pipeline and others are saying things are quite in their neck of the woods,” he said.

Meade believes the region will continue to see more of the same activity.

“I don’t expect anything too great in the highs or the lows. I think we will just be relatively flat,” Meade said. “Hopefully I’m presently surprised later on and we have smoke in June.”

There were only eight foreclosure deeds in April which was down from 23 in 2018. For the year-to-date, foreclosures are down nearly 30 percent.


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