Local Realtors Report Increase in Sales Volume, Value in October

WEST YARMOUTH – The Cape Cod & Islands Association of Realtors is reporting an increase in the volume and value of homes sold in October.

There were 477 homes sold in the region last month which was an increase of 7, or 1.4 percent, from 2017 sales. There were 378 single-family homes sold and 99 condominiums. There were 373 single-family homes and 97 condos sold in October of 2017.

The median sales price did increase by 11.6 percent for single-family homes from $430,000 last October to $479,900.

The median price for condominiums was $347,500, which was up almost 16 percent from $299,850 last October.

“Median sales price hit a new all-time high in October, reaching $479,900,” said Martha Knapp, the president of the Cape Cod & Islands Association of Realtors. “With inventory holding stable between 6 and 7 months since July, the conditions of the Cape market and the increase in sales price are being driven by strong consumer demand, rather than a shortage of inventory.”

For the year-to-date, single-family homes sales are down just over 5 percent and condo sales are down 2.1 percent.

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