Local Realtors Report Steady Home Sales in August

YARMOUTH – The Cape Cod & Islands Association of Realtors is reporting steady sales volume for August.

A total of 477 homes were sold in August – the same as last year.

Single-family home sales increased by almost 4 percent and condo sales dipped by nearly 13 percent.

The median sales price for single-family homes was $430,500 which is up from $417,500 last year. The median price for condos increased from $289,900 in August 2018 to $349,000 last month.

There were 464 sales pending at the end of the month – which was down 10 percent from last August.

“The market for homes at the median sales price and lower is very strong, with the Market Makers Survey reporting that this segment is a sellers market, with a lot of qualified buyers taking advantage of low interest rates,” said Joe Arnao, the president of the CCIAOR.

“While the market could still use more inventory, the affordability index has actually risen 6 points to 89 percent. Entry level buyers could do well to tap into the Cape’s condo market, where comparatively higher levels of inventory present potential buyers with more options and leverage.”

New listings decreased by more than 18 percent from last August. There were 517 single-family homes and 136 condos listed.

Cumulative days on the market for August stayed the same for single-family homes compared to last August at 90 days.

Condos saw cumulative days on the market increase compared to last August, rising from 83 to 89 days, an increase of 7.2 percent.

The CCIAOR Market Makers Confidence Index held steady at 66 out of 100, the same level reported in July.

Data released reflects all residential single-family homes and condominiums in the Cape Cod & Islands Multiple Listing Service for Barnstable County.

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