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Market Insights (July 29, 2009)

Sales volume and median prices continue to decline on Cape Cod at an identical rate with the Town of Dennis. The trend also shows a 52% reduction in sales of single family homes priced above $1,000,000.  The sale of land on Cape Cod has dropped severely with only one (1) sale since April of land priced over $350,000. With these facts in mind, pricing properties to sell needs to respect the changes in the Cape Cod real estate market especially in the mid-Cape area.

  Unit Sales (YTD)   Median Price (YTD)
  2008 2009 % Change   2008 2009 % Change

Dennis

              
Single Family 118 91 -23%   $328,000 $290,000 -12%
Condo 39 16 -59%   $135,000 $145,500 8%
Days on Market 126 114 -10%        
% Meet Selling Price 93 94 1%        
               

Yarmouth

              
Single Family 201 165 -18%   $269,000 $240,000 -11%
Condo 35 30 -14%   $240,000 $181,000 -25%
Days on Market 101 149 48%        
% Meet Selling Price 92 93 1%        
               

Brewster

              
Single Family 67 52 -22%   $385,000 $365,000 -5%
Condo 26 12 -54%   $245,000 $227,500 -7%
Days on Market 118 179 52%        
% Meet Selling Price 94 91 -3%        
               

Harwich

              
Single Family 121 91 -25%   $365,000 $324,800 -11%
Condo 6 9 50%   $237,500 $160,000  
Days on Market 156 137 -12%        
% Meet Selling Price 94 93 -1%        
               

Barnstable

              
Single Family 328 278 -15%   $402,500 $334,300 -17%
Condo 1 2 100%        
Days on Market 157 133 -15%        
% Meet Selling Price 95 92 -3%        
               

Cape Cod

              
Single Family 1554 1210 -22%   $350,500 $307,900 -12%
Condo 346 239 -31%   $317,000 $291,400 -8%
Days on Market 143 154 8%        
% Meet Selling Price 93 92 -1%        
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This entry was posted on Wednesday, July 29th, 2009 at 11:48 am and is filed under Cape Cod Real Estate, Market Insights. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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