WEST YARMOUTH – The Cape Cod & Islands Association of Realtors is reporting near steady sales volume for October.
A total of 487 homes were sold in October – just two fewer than last year.
Single-family home sales dipped by 2 percent and condo sales increased by nearly 6 percent.
The median sales price for single-family homes was $439,500 which is down from $479,000 last year. The median price for condos fell from $345,250 in October 2018 to $299,500 last month.
There were 465 sales pending at the end of the month – which was down 3.5 percent from last October.
“The key indicators of the housing market are beginning to level off. We are not seeing any major changes in activity on the buying or the selling side and trends from prior months have continued, most notably, an increase in condominiums hitting the market,” said Joe Arnao, the president of the CCIAOR.
“The fluctuations in median sale price have also leveled off and become less severe than in recent months. Lower interest rates haven’t produced the spike in activity that many predicted. Absent any drastic changes in market variables, we expect this to be the state of the market going forward.”
New listings decreased by 14.5 percent from last October. There were 434 single-family homes and 123 condos listed.
Cumulative days on the market for October increased from 97 to 103 for single-family homes and increased from 94 to 112 days for condominiums.
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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