Real Estate Report: Sales Volume Down For Homes & Condos

WEST YARMOUTH – The Cape Cod & Islands Association of Realtors reports a decrease in the volume of home and condo sales in June.

Single-family homes and condominium sales decreased 8 percent from June 2018 to 519.

The median sales price for single-family homes increased from $435,000 to $450,000, a jump of 3.4 percent. The median price for condos fell from $322,500 to $315,000, or 2.3 percent.

There were 456 sales pending for homes and condos at the end of June – a 0.8 percent increase from last year.

New listings in June decreased by 2 percent from last year to 665, 525 of which were single-family homes.

“While the Cape market is steady overall, we’ve seen real differences emerge between market segments.” says CCIAOR President Joe Arnao.

“Our members report that proper listing price is key, especially for homes priced below $300,000 or above $1,000,000, as buyers are jumping quickly on these properties. Sellers are facing challenges in the $500,000-$1,000,000 market, where an increased inventory level is allowing buyers to be choosier about listing condition and price.”

Cumulative days on the market for June increased by 9.3 percent for single-family homes compared to last year, rising from 97 to 106 days. Condos saw a 61.3 percent increase for cumulative days on the market from last June, rising from 80 to 129 days.

About Brian Merchant

Brian Merchant grew up in Central Massachusetts and now lives in South Dennis on the Cape. He has been part of the news team in the NewsCenter since the spring of 2014. He studied radio broadcasting at the University of Tennessee.
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