Cape Cod Brokerage August Market Watch

Cape Cod Brokerage August Market Watch...

Well, I wish my original forecast was way off!  I hoped that I was being too pessimistic.   Unfortunately, the numbers tell me I may indeed be more accurate that I want to be.  Here we are at the end of August- Pending sales down, Closed sales down, Cumulative Days on Market UP nearly 28%!!  Percent of original list price down, and -here is a real significant number- New listings are down.  

These numbers all represent Barnstable County 2024 compared to 2025.

What does it all mean?  There is no room for interpretation.  This market is stagnating and the final number - already showing a decrease- is Median Sales Price.   That number will continue to fall.  

Interesting - Condo sales are more optimistic.   Pending Sales and Closed sales have increased, year over year.  And new listings have increased.   However, Cumulative Days on Market is up nearly 32%!  

Now is the time to sell your condo!   You may still benefit from a more aggressive selling price.  Are you looking for a house to buy?  You will not have the inventory you have hoped for, but, nor will you have bidding wars!!  Another 3-6 months may tell a very different story.  I personally believe IF inventory builds over the next 6 months, buyers will be in the drivers' seat.   

~ Deb Martin