Real Estate Sales Volume and Value Sees Continued Increase

BARNSTABLE – The volume and value of real estate continued to climb according to the most recent report from the Barnstable County Register of Deeds Jack Meade.

According to the report, the volume of real estate sales in October 2020 was up 38 percent from the same time last year and the total value of sales was up 86 percent from the previous year.

The median individual property sale value was up 23.3 percent from the previous year and there was a 28.7 percent increase in the volume of mortgage activity from October 2019.

“Very strong period, the last few months. Sales values have been going up, buying has been going up, mortgage activity has been up,” said Meade. 

Meade said that the increases are a continuation of similar trends seen since the beginning of summer.

“Things have been really picking up significantly. Where we’ll end up at the end of the year, my guess is we’ll be in double digits in terms of volume over a year ago. Value of sales is up significantly as well, so we’ll have a very net-positive year, I’m pretty sure, with two months left to go.”

The year-to-date volume of sales is up 8.8 percent and the total value of sales is up by 21.9 percent.

Meade said he had noticed an unexpected large increase in high-end sales this year, in particular. 

“Going into the year, that wasn’t something that was anticipated. But now, the multi-million dollar sale is not an unusual event in the last six months,” said Meade.

Meade said there has also been significant increase in the high-middle market as well.

Based on all property sales valued above $50,000, the median sale price of property in Barnstable County in October 2020 was $475,000, compared to $385,000 last year.

The median mortgage amount for values above $50,000 for commercial, residential or other properties was $385,000.

About Grady Culhane

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



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