BARNSTABLE – Barnstable County Register of Deeds Jack Meade has announced the latest update for real estate activity on Cape Cod.
As a whole, both sales volume and value rose in July. Compared to July of 2019, the volume of sales rose 42.6%, and the total sales value jumped up 68.4%.
The median individual property value also saw a bump up compared to last year, as it rose 18.2% in July of 2020.
Meade said it was a great month for the region, with much of the success having to do with people feeling more comfortable with seeing homes during the coronavirus pandemic.
“Now for the last couple of months, we’ve had a little more freedom to do that,” Meade explained, “and you’re seeing the activity I think that was missed in late spring starting to occur in mid-to-late summer.”
Meade anticipates that these positive trends will continue throughout August, and that the region will finish strong as the year draws closer to a conclusion.
The median sale price for properties valued above $50,000 in the county this past month was $455,000, compared to $385,000 last July. Similarly, the median mortgage amount rose from $292,000 last July to $311,500 this July.
Meade said it’s anyone’s guess as to how long this streak will continue, but the entire country is a part of the trend.
“From what I hear anecdotally, it’s that a house goes on the market and people are on it and offers are made quite quickly, because they know it’s a hot market at this point,” he continued.
On the year to date, the volume of sales is down by 5.8%, while the total value of sales has risen by 0.3%. Both individual sales values and mortgage volume are up in 2020, by 9.2% and 49.5% respectively.
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