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In 2015 the median single family home price in Barnstable County was around $375,000. As of April 30,2025, the median price was $775,000!! Condos showed less of a price spread, 2015 saw a median price of $280,000 and April of 2025 was $525,000.
The Barnstable Cape Cod Home Market Analysis shows Everything that goes up, must come down. As of May 1,2025, we have a 10% decrease in closed sales, a 27% increase in inventory of houses for sale, and a 29% increase in days on market.
The tide is turning. What goes up, will indeed come down. The question is how far will it fall? Personally, I do feel that there will be an adjustment, but it will not be as severe or last as long as 2009. How does this affect you? Buying a house will be a process where you have more options. It may take longer to see everything and make a decision. You may have more bargaining power! However, there will be some parts of the market that are rather insulated from the slowdown. Houses that are waterfront, those with docks and private beaches, as well as those in lower price ranges- there will be parts of the market that remain competitive.
If you are selling, now is certainly the time. You could be caught "chasing the market price down". Not a good position to find yourself in. What is for sale in your neighborhood? How many houses are your street are for sale? Do you have a unique feature or location? All of those are important questions to ask.
Give one of us here at ERA a call and we can help you navigate this moving target!!!
