September real estate market stays strong, but inventory depleted

Source: Wicked Local — 

The median sales price last month for a house on the Cape was $625,500 for single-family homes and $400,000 for condominiums, according to preliminary data released this week by the Cape Cod & Islands Association of REALTORS® (CCIAOR).

Of the 533 homes sold in September, 416 were single-family homes and 117 were condominiums. In September of 2020, by comparison, 717 homes (563 single-family homes and 154 condos) sold at a median price of $550,000 for single-family homes and $353,750 for condominiums.

Sales pending at the end of September were 413 for single-family homes and 126 for condominiums – a 30.4% decrease for single-family and a 28% decrease for condominiums, which will show up in closed home sales in the coming months. A year ago, there were 593 pending single-family homes and 175 pending condominiums.