Real Estate Volume & Value on Cape Cod Rise Again

BARNSTABLE – The volume and value of real estate sales on Cape Cod were up for the second straight month in November.

Barnstable County Register of Deeds John Meade reports that the volume of real estate sales was up almost 10 percent from last year with the total value of sales topping last November by over 19 percent.

The median individual property sale value of $385,000 was up 8.5 percent from last November.

“The last two months have been solid and I would like to think we could continue that trend at least through the end of the year,” Meade said.

Meade said he is hearing mixed thoughts about the market in the county so far in December.

“I’m hearing that we are going to be busy this month from a bunch of people saying there is a lot of stuff in the pipeline. I’m hearing from others not so much,” Meade said. “I think it is sector based and it is area driven.”

Meade said the bulk of recent sales has been around the median sale price, but that high end properties also continue to move.

“Provincetown for instance has been a hot market and it has been a hot market for a while,” Meade said. “It continues to be a hot and expensive market so we are seeing some solid sales out of there.”

Other places, like Chatham are also seeing sales on the high end of the market.

The lower end of the market remains quite and is mostly condominium sales.

“It’s just harder I think for folks to find properties that are where they were finding them two or three years ago in the $200,000s,” Meade said. “It’s hard to find those.”

For the year-to-date, the volume of sales is still down 2.5 percent, but the total value of sales is up 4.2 percent with a 7.1 percent increase in individual sales value.

There was a decrease in the volume of mortgage activity in November of 9.4 percent from 2017. Mortgage volume for the year-to-date is down 7.7 percent.

There were 12 foreclosure deeds in November, which was down over 14 percent from last year. For the year, foreclosure deeds are down just over 3 percent.

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