Cape Cod Sees Record Month For Real Estate

HYANNIS – The Cape Cod and Islands Association of Realtors has reported that the region’s real estate market saw yet another record-breaking month in September.

The median single-family home sales price reached an all-time high of $550,000 in September, which was an increase of $100,000 from September of 2019.

Condominiums sold for a median price of $350,000, a slight increase compared to last September. Sales pending at month’s end and new listings this September also saw increases from the marks seen 12 months prior.

CEO Ryan Castle said that the overall inventory has continued to drop, as it hit an all-time low in September.

He said that new homes aren’t built as quickly in this regional market as opposed to other housing markets, so much of that inventory status depends on the number of owners who are willing to sell.

“We’ll see if that trend continues and see if prices continue to go up because of that low inventory,” Castle said.

Even with an unclear inventory outlook going forward, Castle and the association are still projecting a strong month of October for the Cape and Islands real estate market for sellers.

He encouraged buyers to jump on any homes they may like, because they likely won’t be on the market for long, and for potential sellers to explore their options.

“Reach out to a Realtor right now to see what they think you can get in today’s market,” Castle said, “because it may surprise you.”

About Brendan Fitzpatrick

Brendan, a recent graduate from the University of Massachusetts Amherst, is one of the newest members of the NewsCenter team. When not on the beat, you'll probably find him watching Boston sports.
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