Cape Real Estate Market Sees Strong Start To Autumn

house for saleBARNSTABLE – The Cape’s real estate market started autumn in a strong way, with value and volume up across the board.

The volume of sales was up 15.6 percent from last year, with the value of sales up just over 16 percent. The median individual property sale was up 4.3 percent from September 2014.

The uptick in activity follows a seesaw summer, numbers were up in July before a slow August.  The volume of real estate sales was up about 20 percent in July, before falling nearly 10 percent in August.

“Things go up and down within the month and a couple days will make a lot of difference as to whether one month will do better than the other,” said Barnstable County of Deeds Jack Meade.

Meade expressed hope that the fall would prove strong for the market. “Traditionally it’s a strong period for us. The spring and the fall are the two best quarters for our real estate activity and that’s been an historic trend for quite sometime.”

For the year to date, the volume of sales is up 2.6, with the total value of sales up 0.2 percent, while the individual sales value is up 1.9 percent. “I don’t expect a significant change in last year’s numbers when all is said and done,” Meade said.

Foreclosures for the year to date are slightly up from last year, with 108 recorded so far this year, compared to 100 at this point last year. There were 18 foreclosures in September 2015.

Meade says he’s watching how upcoming changes to real estate regulations will affect the market. Those changes start this month.

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