Cape Cod Real Estate Moderating, But Still Strong Historically

YARMOUTH – Cape Cod real estate activity stayed historically strong through September, according to the Cape Cod & Islands Association of Realtors.

According to the association, 533 homes sold in September—416 single family homes and 117 condominiums. 

Sales pending at the end of the month included 413 single-family homes and 126 condominiums, a decline of about 30 percent for single-family and 28 percent for condominiums compared to last year.

The organization said that while there was a decline, the numbers must be taken in the context of how hot of a year 2020 was for the Cape’s real estate market. 

“It is important to put the Cape Cod housing market in historical perspective. Sellers are still getting more money for their homes then they ever thought of in 2019 or before—and there is still more demand as remote workers, second home owners, and future retirees are trying to find their place on the Cape,” said CEO Ryan Castle in a statement. 

Castle said that compared to 2019 data, the September figures are a 10 percent increase in pending sales and 20 percent increase in closed sales. 

“The Cape market still has strong demand from buyers. They are being a little more cautious and picking their spot to buy. Inventory also is still completely depleted. While we are up from our lowest numbers, we still are seeing new listings below what we traditionally expect,” Castle said. 

September’s new listings for single-family homes were 457 and 126 for condominiums, about a 22 percent decrease and 20 decrease respectively. 

About Grady Culhane

Grady Culhane is a Cape Cod native from Eastham. He studied media communications at Cape Cod Community College and joined the News Center in 2019.
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