Cape Cod home listings surge at pace not seen in years MABA MassachusettsRealEstate FirstTimeHomeBuyers MaBuyerAgent

In April, Cape Cod sellers were listing homes at a rate the market hadn’t seen in years, according to the Cape Cod & Islands Association of REALTORS® April 2024 Market Stats Report. By month’s end, four hundred and ninety five single-family homes and one hundred and thirty seven condominiums were listed for sale in the Cape Cod & Islands Multiple Listing Service. That’s a fifteen point seven percent increase in single-family home listings and an eleven point four percent increase in condo listings from April 2023.

 Ryan Castle, CEO of the Cape Cod & Islands Association of Realtors, said now’s the time to look if you are thinking about buying.
“Sellers are listing houses at a pace we have not seen in the last few years,” Castle said. “If you have been considering buying, it’s a great time to see what is new to the market. The market could continue to use more homes to help ease affordability pressures.”
In April, two hundred and seventy nine homes sold on the Cape, including two hundred and twenty two single-family homes and fifty seven condominiums, at median prices of $809,250 and $512,500, respectively. A year ago, two hundred and sixteen single-family homes and sixty eight condos sold at median prices of $762,500 and $441,250.

 Meanwhile, pending home sales rose in April, while condominium sales fell. Pending sales for single-family homes increased eighteen point one percent from last year to three hundred while pending condominium sales fell six point one percent to sixty two. In April 2023, there were two hundred and fifty four pending single-family homes and 66 pending condominiums. Compared to last year, days on market stayed the same as last year at forty six. Meanwhile, condominium days on market grew twenty seven point three percent compared to last year, increasing to fifty six days from forty four.

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