Real Estate Market Conditions for Cape Cod, Massachusetts

Spring Nor'Easter on the Cape

This weekend's forecast of a nor'easter is a surprise to everyone. There is still lots happenning. Be sure to visit Chatham and view the filming of the movie "Chatham" starring David Carradine, Bruce Dern, Mariel Hemingway and a cast of hundreds of local stars! it is truly a community production! Based on a book by Joseph Lincoln, this is sure to open the eyes of many as to life on Old Cape Cod.

Cape Cod Real Estate Updates:

SALES & VOLUME BEGIN TO FLATTEN OUT!

Barnstable County Register of Deeds, John F. Meade, reports that the volume of real estate sales in March 2007 was down 1.1% from March 2006 volume and the total value of sales was down 1.25% from the previous year. The median individual property sale value was down 1.7% from the previous year. There was a 16.6% decrease in the volume of mortgage activity from March 2006 levels.

Year to Date: Volume of Sales is down 2%; Total Value of Sales is down 7%; Individual Sales Value is down 4.3%; Mortgage Volume is down 8.6%.

Register Meade reports that there were 541 deeds recorded at the Barnstable Registry of Deeds in March 2007 with stated sales values above $50,000.00 representing a stated value of $268,033,340.00 in county-wide real estate sales.

Based on all property sales valued above $50,000.00, the median sale price of property in Barnstable County in March was $348,800.00.

There were 1,760 mortgages recorded with values above $50,000.00 in March with a total value of $540,845,437.00. The median mortgage amount, commercial, residential or other, was $232,000.00.

By way of comparison, there were 547 deeds recorded at the Barnstable Registry of Deeds in March 2006 with stated sales values above $50,000.00 representing a stated value of $271,426,983.00 in county-wide real estate sales. Based on all property sales valued above $50,000.00, the median sale price of property in Barnstable County in March was $354,900.00.

There were 2,110 mortgages recorded with values above $50,000.00 in March with a total value of $740,210,509.00. The median mortgage amount, commercial, residential or other, was $225,000.00.
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REAL ESTATE ACTIVITY THROUGH MARCH 2007 AS COMPARED TO THE SAME PERIOD IN 2006.

All figures are based on sales or mortgages ABOVE $50,000.00.

2007 sales volume: 1,339
2006 sales volume: 1,366

2007 total sales value: $641,407,493.00
2006 total sales value: $688,763,226.00

2007 median sales price: $349,000.00
2006 median sales price: $364,500.00

2007 mortgage volume: 4,990
2006 mortgage volume: 5,460

2007 total mortgage value: $1,539,428,270.00
2006 total mortgage value: $1,933,458,252.00

2007 median mortgage amount: $231,100.00
2006 median mortgage amount: $219,950.00

TRAILING TWELVE MONTHS MEDIAN SALES VALUE:
(Sales values above $50,000.00)

M/Y Value % Differential/prior month

Mar 2006: $354,900.00 -4.1%
Apr 2006: $370,000.00 +4.3%
May 2006: $365,000.00 -1.4%
June 2006: $390,000.00 +6.9%
July 2006: $365,000.00 -6.4%
Aug 2006: $350,000.00 -4.1%
Sep 2006: $360,000.00 +2.9%
Oct 2006: $373,500.00 +3.8%
Nov 2006: $355,000.00 -4.8%
Dec 2006: $350,000.00 -1.4%
Jan 2007: $350,000.00 0%
Feb 2007: $338,750.00 -3.2%
Mar 2007: $349,000.00 +3%
— Realty Times Online

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