Annual Report on the Cape Cod Housing Market A RESEARCH TOOL PROVIDED BY THE CAPE COD AND ISLANDS ASSOCIATION OF REALTORS®, INC. COVERING SINGLE-FAMILY AND CONDOMINIUM PROPERTIES IN BARNSTABLE COUNTY
Local Market Update – December 2020 A Research tool provided by the Cape Cod and Islands Association of REALTORS®, Inc.
Provincetown December
Single-Family Properties Key Metrics
Year to Date
2019
2020
Pending Sales
2
2
0.0%
36
53
+ 47.2%
Closed Sales
3
2
- 33.3%
32
52
+ 62.5%
$839,000
$1,075,500
+ 28.2%
$1,023,750
$1,272,500
+ 24.3%
Median Sales Price*
+/–
2019
2020
+/–
Inventory of Homes for Sale
29
13
- 55.2%
--
--
--
Months Supply of Inventory
8.9
2.9
- 67.4%
--
--
--
Cumulative Days on Market Until Sale
133
38
- 71.4%
184
158
- 14.1%
96.1%
103.5%
+ 7.7%
89.2%
91.0%
+ 2.0%
0
2
--
55
64
+ 16.4%
Percent of Original List Price Received* New Listings
* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.
December
Condominium Properties Key Metrics
Year to Date
2019
2020
+/–
2019
2020
+/–
Pending Sales
13
10
- 23.1%
163
198
+ 21.5%
Closed Sales
15
17
+ 13.3%
159
193
+ 21.4%
Median Sales Price*
$550,000
$549,000
- 0.2%
$517,500
$610,000
+ 17.9%
Inventory of Homes for Sale
84
50
- 40.5%
--
--
--
Months Supply of Inventory
6.2
3.0
- 51.6%
--
--
--
Cumulative Days on Market Until Sale Percent of Original List Price Received* New Listings
202
134
- 33.7%
129
140
+ 8.5%
91.0%
95.3%
+ 4.7%
93.4%
95.5%
+ 2.2%
5
6
+ 20.0%
231
220
- 4.8%
* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.
Median Sales Price – Single-Family Properties Rolling 12-Month Calculation
Median Sales Price – Condominium Properties Rolling 12-Month Calculation
Barnstable County —
Barnstable County — Provincetown —
Provincetown — $1,400,000
$1,200,000
$700,000
$600,000
$1,000,000 $500,000 $800,000 $400,000 $600,000
$400,000
$200,000 1-2010 7-2011 1-2013 7-2014 1-2016 7-2017 1-2019 7-2020
$300,000
$200,000 1-2010
7-2011
1-2013
7-2014
1-2016
7-2017
1-2019
7-2020
All data from the Cape Cod and Islands Association of REALTORS®, Inc. Report © 2020 ShowingTime.
Local Market Update – December 2020 A Research tool provided by the Cape Cod and Islands Association of REALTORS®, Inc.
Truro December
Single-Family Properties Key Metrics
Year to Date
2019
2020
+/–
2019
2020
+/–
Pending Sales
2
7
+ 250.0%
59
93
+ 57.6%
Closed Sales
4
8
+ 100.0%
60
81
+ 35.0%
$665,000
$684,500
+ 2.9%
$787,500
$740,000
- 6.0%
Median Sales Price* Inventory of Homes for Sale
48
15
- 68.8%
--
--
--
Months Supply of Inventory
9.8
1.9
- 80.6%
--
--
--
Cumulative Days on Market Until Sale
288
220
- 23.6%
159
204
+ 28.3%
87.9%
94.4%
+ 7.4%
90.1%
91.4%
+ 1.4%
0
3
--
101
90
- 10.9%
Percent of Original List Price Received* New Listings
* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.
December
Condominium Properties Key Metrics
Year to Date
2019
2020
+/–
2019
2020
+/–
Pending Sales
1
4
+ 300.0%
20
45
+ 125.0%
Closed Sales
1
3
+ 200.0%
22
39
+ 77.3%
Median Sales Price*
$257,500
$425,000
+ 65.0%
$323,250
$314,000
- 2.9%
Inventory of Homes for Sale
21
12
- 42.9%
--
--
--
Months Supply of Inventory
11.6
3.2
- 72.4%
--
--
--
Cumulative Days on Market Until Sale Percent of Original List Price Received* New Listings
172
111
- 35.5%
141
150
+ 6.4%
86.1%
101.2%
+ 17.5%
94.8%
94.5%
- 0.3%
0
3
--
49
51
+ 4.1%
* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.
Median Sales Price – Single-Family Properties Rolling 12-Month Calculation
Median Sales Price – Condominium Properties Rolling 12-Month Calculation
Barnstable County —
Barnstable County — Truro —
Truro — $900,000
$600,000
$800,000
$500,000
$700,000 $400,000 $600,000 $300,000 $500,000 $200,000
$400,000
$300,000 1-2010
7-2011
1-2013
7-2014
1-2016
7-2017
1-2019
7-2020
$100,000 1-2010
7-2011
1-2013
7-2014
1-2016
7-2017
1-2019
7-2020
All data from the Cape Cod and Islands Association of REALTORS®, Inc. Report © 2020 ShowingTime.
Local Market Update – December 2020 A Research tool provided by the Cape Cod and Islands Association of REALTORS®, Inc.
Wellfleet December
Single-Family Properties Key Metrics
Year to Date
2019
2020
+/–
2019
2020
+/–
Pending Sales
3
14
+ 366.7%
73
100
+ 37.0%
Closed Sales
5
8
+ 60.0%
71
86
+ 21.1%
$380,000
$1,057,500
+ 178.3%
$555,000
$617,500
+ 11.3%
Median Sales Price* Inventory of Homes for Sale
30
12
- 60.0%
--
--
--
Months Supply of Inventory
4.9
1.4
- 71.4%
--
--
--
Cumulative Days on Market Until Sale
60
104
+ 73.3%
140
130
- 7.1%
95.8%
97.5%
+ 1.8%
90.8%
95.1%
+ 4.7%
2
9
+ 350.0%
99
101
+ 2.0%
Percent of Original List Price Received* New Listings
* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.
December
Condominium Properties Key Metrics
Year to Date
2019
2020
+/–
2019
2020
+/–
Pending Sales
0
0
--
10
28
+ 180.0%
Closed Sales
1
3
+ 200.0%
10
27
+ 170.0%
Median Sales Price*
$207,950
$343,000
+ 64.9%
$242,500
$300,000
+ 23.7%
Inventory of Homes for Sale
9
2
- 77.8%
--
--
--
Months Supply of Inventory
7.2
0.6
- 91.7%
--
--
--
Cumulative Days on Market Until Sale Percent of Original List Price Received* New Listings
38
38
0.0%
111
139
+ 25.2%
83.5%
94.5%
+ 13.2%
92.9%
92.7%
- 0.2%
2
1
- 50.0%
21
23
+ 9.5%
* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.
Median Sales Price – Single-Family Properties Rolling 12-Month Calculation
Median Sales Price – Condominium Properties Rolling 12-Month Calculation
Barnstable County —
Barnstable County — Wellfleet —
Wellfleet — $700,000
$400,000
$350,000 $600,000
$300,000 $500,000 $250,000
$400,000 $200,000
$300,000 1-2010
7-2011
1-2013
7-2014
1-2016
7-2017
1-2019
7-2020
$150,000 1-2010
7-2011
1-2013
7-2014
1-2016
7-2017
1-2019
7-2020
All data from the Cape Cod and Islands Association of REALTORS®, Inc. Report © 2020 ShowingTime.
Mark Lynett
Office: (518) 879-9838 Cell: (518) 879-9838 mark.lynett@gibsonsir.com
December Dollar Volume of Closed Sales Truro (Town)
Provincetown (Town)
Wellfleet (Town)
$250M
$203,501,635
$200M
$150M $130,957,779
$128,495,713
$100M $89,487,543 $77,366,329
$65,978,203 $52,606,268
$52,309,013
$50M
$43,007,279
$0
+1.9% 2018
+26.1% 2019
+22.3%
+55.4%
+35.6%
+47.1%
2020 Provincetown (Town) & Truro (Town) & Wellfleet (Town) Each data point represents year-to-date activity. Data is from January 7, 2021.
All data from data provided by Cape Cod and Islands Association of REALTORS®. InfoSparks © 2021 ShowingTime.
2020 Annual Report on the Cape Cod Housing Market Covering Single-Family and Condominium Properties in Barnstable County
Change from 2019:
- 3.7%
+ 21.7%
+ 19.3%
New Listings
Pending Sales
Closed Sales
Annual Market Activity 7,424
6,872
7,149
6,881
2016
6,628
- 3.7%
+ 4.0%
2018
2019
6,370 5,492
- 7.4%
2017
5,374
- 2.1%
- 3.7%
New Listings
5,081
5,234
- 5.5%
+ 3.0%
2020
6,113 5,457
5,324
+ 21.7%
- 2.4%
Pending Sales
5,144
5,124
- 3.4%
- 0.4%
+ 19.3%
Closed Sales
$479,000
+ 16.8%
$664,625
+ 18.6%
Median Sales Price in 2020
Change from 2019
Avg. Sales Price in 2020
Change from 2019
Average Sales Price
Median Sales Price
$664,625 $479,000
$362,500
2016
$490,613
$400,000
$410,000
+ 4.8%
+ 5.3%
+ 2.5%
+ 16.8%
2017
2018
2019
2020
$380,000
2016
$506,147
$542,046
$560,286
+ 3.2%
+ 7.1%
+ 3.4%
+ 18.6%
2017
2018
2019
2020
Current as of January 7, 2021. All data from the Cape Cod and Islands Association of REALTORSŽ, Inc. Report Š 2021 ShowingTime. | 2
2020 Annual Report on the Cape Cod Housing Market Covering Single-Family and Condominium Properties in Barnstable County
82
- 11.8%
96.1%
+ 2.3%
Days on Market in 2020
Change from 2019
Pct. of Orig. Price Received in 2020
Change from 2019
Pct. of Orig. Price Received
Days on Market Until Sale 127
93.2%
106
2016
91
93
- 16.5%
- 14.2%
+ 2.2%
- 11.8%
2017
2018
2019
2020
96.1%
94.1%
94.7%
+ 1.0%
+ 0.6%
- 0.8%
+ 2.3%
2017
2018
2019
2020
93.9%
82
2016
1.4
- 65.0%
760
- 56.5%
Months Supply in 2020
Change from 2019
Homes for Sale in 2020
Change from 2019
Months Supply of Inventory
Inventory of Homes for Sale
At the end of each year
At the end of each year
5.4
2,480
4.9 4.3
4.0
1,919
2,069 1,746
760
1.4
2016
- 20.4%
+ 14.0%
- 18.4%
- 65.0%
2017
2018
2019
2020
2016
- 22.6%
+ 7.8%
- 15.6%
- 56.5%
2017
2018
2019
2020
Current as of January 7, 2021. All data from the Cape Cod and Islands Association of REALTORSŽ, Inc. Report Š 2021 ShowingTime. | 3
2020 Annual Report on the Cape Cod Housing Market Covering Single-Family and Condominium Properties in Barnstable County
New Listings
Closed Sales
2019
2020
Percentage Change
2019
2020
Percentage Change
1,150
1,080
- 6.1%
879
991
+ 12.7%
Bourne
328
307
- 6.4%
253
273
+ 7.9%
Brewster
305
331
+ 8.5%
247
323
+ 30.8%
Chatham
324
359
+ 10.8%
211
303
+ 43.6%
Dennis
623
622
- 0.2%
480
532
+ 10.8%
Eastham
219
218
- 0.5%
162
192
+ 18.5%
Falmouth
770
723
- 6.1%
659
659
0.0%
Harwich
430
376
- 12.6%
351
377
+ 7.4%
Mashpee
637
581
- 8.8%
456
565
+ 23.9%
Orleans
235
249
+ 6.0%
133
246
+ 85.0%
Provincetown
286
284
- 0.7%
191
245
+ 28.3%
Sandwich
516
468
- 9.3%
386
437
+ 13.2%
Truro
150
141
- 6.0%
82
120
+ 46.3%
Wellfleet
120
124
+ 3.3%
81
113
+ 39.5%
Yarmouth
762
765
+ 0.4%
591
719
+ 21.7%
Wareham
85
76
- 10.6%
71
66
- 7.0%
Barnstable
Current as of January 7, 2021. All data from the Cape Cod and Islands Association of REALTORSŽ, Inc. Report Š 2021 ShowingTime. | 4
2020 Annual Report on the Cape Cod Housing Market Covering Single-Family and Condominium Properties in Barnstable County
Median Sales Price
Homes for Sale
2019
2020
Percentage Change
2019
2020
Percentage Change
Barnstable
$390,000
$449,000
+ 15.1%
283
116
- 59.0%
Bourne
$387,500
$440,000
+ 13.5%
60
33
- 45.0%
Brewster
$415,000
$470,000
+ 13.3%
76
23
- 69.7%
Chatham
$725,000
$826,500
+ 14.0%
130
62
- 52.3%
Dennis
$365,000
$385,000
+ 5.5%
111
79
- 28.8%
Eastham
$459,000
$529,750
+ 15.4%
66
39
- 40.9%
Falmouth
$455,000
$545,000
+ 19.8%
177
62
- 65.0%
Harwich
$432,500
$490,000
+ 13.3%
89
33
- 62.9%
Mashpee
$412,750
$462,000
+ 11.9%
159
73
- 54.1%
Orleans
$585,000
$752,500
+ 28.6%
96
39
- 59.4%
Provincetown
$605,000
$695,500
+ 15.0%
113
63
- 44.2%
Sandwich
$399,900
$465,000
+ 16.3%
109
33
- 69.7%
Truro
$660,000
$632,500
- 4.2%
69
27
- 60.9%
Wellfleet
$529,000
$571,000
+ 7.9%
39
14
- 64.1%
Yarmouth
$337,000
$370,000
+ 9.8%
169
64
- 62.1%
Wareham
$290,000
$336,250
+ 15.9%
16
8
- 50.0%
Current as of January 7, 2021. All data from the Cape Cod and Islands Association of REALTORSŽ, Inc. Report Š 2021 ShowingTime. | 5
Monthly Indicators A Research Tool Provided by The Cape Cod and Islands Association of REALTORS®, Inc. Covering Barnstable County
December 2020
Quick Facts
December is normally one of the slowest months of the year but strong buyer demand across most segments of the market, buoyed by near-record low interest rates, continue to drive a healthy sales pace in the face of a new wave of COVID-19 infections and a softening jobs market.
Closed Sales
491
112
Single-Family Only
Condominium Only
+ 39.1%
New Listings were up 33.6 percent for single-family homes and 52.4 percent for condominium properties. Closed Sales increased 39.1 percent for single-family homes and 31.8 percent for condominium properties.
Year-Over-Year Change
+ 31.8% Year-Over-Year Change
Median Sales Price The Median Sales Price was up 31.0 percent to $570,000 for single-family homes and 26.3 percent to $369,400 for condominium properties. Months Supply of Inventory decreased 66.7 percent for single-family units and 50.0 percent for condominium units.
$570,000
$369,400
Single-Family Only
Condominium Only
+ 31.0% Year-Over-Year Change
With low mortgage rates and strong buyer demand in most market segments, the housing market of early 2021 looks to continue the trends we saw in the second half of 2020. Low inventory and multiple offers on in-demand properties and market segments are likely to remain common while the market waits and hopes for a boost in new construction and a surge in home sellers to help provide more balance to the market.
+ 26.3% Year-Over-Year Change
Homes for Sale
542
218
Single-Family Only
Condominium Only
- 60.4% Year-Over-Year Change
- 42.2% Year-Over-Year Change
New Listings
195
64
Single-Family Only
Condominium Only
+ 33.6% Year-Over-Year Change
+ 52.4% Year-Over-Year Change
Data is refreshed regularly to capture changes in market activity so figures shown may be different than previously reported. Current as of January 7, 2021. All data from the Cape Cod and Islands Association of REALTORS®, Inc. Report © 2021 ShowingTime.
Single Family Market Overview Key market metrics for the current month and year-to-date figures for Single-Family Homes Only.
Key Metrics
Historical Sparkbars
Closed Sales 12-2017
12-2018
12-2019
12-2018
12-2019
12-2018
12-2019
12-2018
12-2019
12-2018
12-2019
12-2018
12-2019
12-2018
12-2019
12-2018
12-2019
12-2018
12-2019
+ 19.8%
$435,000
$570,000
+ 31.0%
$432,500
$510,000
+ 17.9%
86
73
- 15.1%
87
81
- 6.9%
1,369
542
- 60.4%
--
--
--
3.9
1.3
- 66.7%
--
--
--
104
57
- 45.2%
95
84
- 11.6%
109
57
- 47.7%
106
95
- 10.4%
92.7%
98.2%
+ 5.9%
93.8%
96.0%
+ 2.3%
146
195
+ 33.6%
5,461
5,278
- 3.4%
12-2020
New Listings 12-2017
4,913
12-2020
Pct. of Orig. Price Received 12-2017
4,102
12-2020
Cumulative Days on Market 12-2017
+ 39.1%
12-2020
Final Days on Market 12-2017
491
+/–
12-2020
Months Supply 12-2017
353
YTD 2019 YTD 2020
12-2020
Homes for Sale 12-2017
+/–
12-2020
Affordability Index 12-2017
12-2020
12-2020
Median Sales Price 12-2017
12-2019
12-2020
All data from the Cape Cod and Islands Association of REALTORS®, Inc. Report © 2021 ShowingTime. | 2
Condominium Market Overview Key market metrics for the current month and year-to-date figures for Condominium Properties Only.
Key Metrics
Historical Sparkbars
Closed Sales 12-2017
12-2018
12-2019
12-2018
12-2019
12-2018
12-2019
12-2018
12-2019
12-2018
12-2019
12-2018
12-2019
12-2018
12-2019
12-2018
12-2019
12-2018
12-2019
+ 17.4%
$292,500
$369,400
+ 26.3%
$291,250
$345,000
+ 18.5%
128
112
- 12.5%
129
120
- 7.0%
377
218
- 42.2%
--
--
--
4.2
2.1
- 50.0%
--
--
--
129
73
- 43.4%
100
95
- 5.0%
128
80
- 37.5%
105
103
- 1.9%
93.6%
96.9%
+ 3.5%
94.4%
96.3%
+ 2.0%
42
64
+ 52.4%
1,420
1,350
- 4.9%
12-2020
New Listings 12-2017
1,200
12-2020
Pct. of Orig. Price Received 12-2017
1,022
12-2020
Cumulative Days on Market 12-2017
+ 31.8%
12-2020
Final Days on Market 12-2017
112
+/–
12-2020
Months Supply 12-2017
85
YTD 2019 YTD 2020
12-2020
Homes for Sale 12-2017
+/–
12-2020
Affordability Index 12-2017
12-2020
12-2020
Median Sales Price 12-2017
12-2019
12-2020
All data from the Cape Cod and Islands Association of REALTORS®, Inc. Report © 2021 ShowingTime. | 3
Closed Sales A count of the actual sales that closed in a given month.
December
Year to Date 4,913
491 4,096
4,102
353 299
85
68
2018 - 18.8%
2019 + 18.1%
2020 + 39.1%
Single Family
112
2018 - 5.6%
2019 + 25.0%
2020 + 31.8%
1,048
2018 - 3.6%
Condominium
2019 + 0.1%
2020 + 19.8%
Single Family
2018 - 2.7%
1,022
2019 - 2.5%
1,200
2020 + 17.4%
Single-Family
YoY Change
Condominium
YoY Change
January 2020
274
+ 18.1%
71
+ 82.1%
February 2020
173
- 16.0%
55
+ 61.8%
March 2020
336
+ 14.3%
77
+ 18.5%
April 2020
265
- 21.6%
63
- 32.3%
May 2020
241
- 46.2%
60
- 43.9%
June 2020
431
+ 0.7%
90
- 13.5%
July 2020
590
+ 71.5%
112
+ 24.4%
August 2020
515
+ 32.1%
147
+ 51.5%
September 2020
564
+ 63.0%
153
+ 27.5%
October 2020
575
+ 48.2%
140
+ 27.3%
November 2020
458
+ 36.7%
120
+ 53.8%
December 2020
491
+ 39.1%
112
+ 31.8%
4,913
+ 19.8%
1,200
+ 17.4%
Total
Condominium
Historical Closed Sales by Month
Single Family
Condominium
700 600 500 400 300 200 100 0 1-2006
1-2007
1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
1-2015
1-2016
1-2017
1-2018
1-2019
1-2020
All data from the Cape Cod and Islands Association of REALTORSŽ, Inc. Report Š 2021 ShowingTime. | 4
Median Sales Price Point at which half of the sales sold for more and half sold for less, not accounting for seller concessions, in a given month.
December
Year to Date Single-Family
YoY Change
Condominium
YoY Change
January 2020
$427,250
+ 6.9%
$300,600
+ 15.6%
February 2020
$435,000
+ 5.9%
$332,500
+ 25.5%
March 2020
$440,000
+ 4.4%
$298,000
+ 16.9%
April 2020
$439,900
+ 4.1%
$302,500
+ 21.0%
May 2020
$454,500
+ 6.4%
$266,392
- 7.0%
June 2020
$479,000
+ 6.7%
$323,000
+ 2.5%
July 2020
$496,500
+ 14.1%
$338,500
+ 28.0%
August 2020
$544,000
+ 26.4%
$362,500
+ 3.9%
September 2020
$550,000
+ 22.2%
$352,500
+ 1.1%
October 2020
$549,900
+ 25.3%
$404,500
+ 35.1%
November 2020
$585,000
+ 32.8%
$399,950
+ 38.6%
December 2020
$570,000
+ 31.0%
$369,400
+ 26.3%
Median
$510,000
+ 17.9%
$345,000
+ 18.5%
$570,000 $510,000 $435,000
$425,000 $432,500
$385,000
$369,400 $345,000 $295,000 $291,250
$292,500 $262,500
2018 - 8.9%
2019 + 13.0%
2020 + 31.0%
2018 - 15.3%
Single Family
2019 + 11.4%
2020 + 26.3%
Condominium
2018 + 6.3%
2019 + 1.8%
2020 + 17.9%
2018 + 6.5%
Single Family
2019 - 1.3%
2020 + 18.5%
Condominium
Historical Median Sales Price by Month
Single Family
Condominium
$700,000
$600,000
$500,000
$400,000
$300,000
$200,000
$100,000 1-2006
1-2007
1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
1-2015
1-2016
1-2017
1-2018
1-2019
1-2020
All data from the Cape Cod and Islands Association of REALTORSŽ, Inc. Report Š 2021 ShowingTime. | 5
Housing Affordability Index This index measures housing affordability for the region. For example, an index of 120 means the median household income is 120% of what is necessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability.
December
Year to Date 133
129
128
120
119 112 91
86
87
82
81
73
2018 + 1.1%
2019 - 5.5%
2020 - 15.1%
2018 + 8.1%
Single Family
2019 - 3.8%
2020 - 12.5%
2018 - 13.7%
Condominium
2019 + 6.1%
2020 - 6.9%
2018 - 13.8%
Single Family
2019 + 8.4%
2020 - 7.0%
Single-Family
YoY Change
Condominium
YoY Change
January 2020
90
+ 2.3%
128
- 5.2%
February 2020
89
+ 3.5%
117
- 12.7%
March 2020
85
0.0%
126
- 10.0%
April 2020
90
+ 5.9%
130
- 9.7%
May 2020
86
+ 2.4%
147
+ 16.7%
June 2020
83
+ 3.8%
123
+ 7.9%
July 2020
81
- 4.7%
119
- 14.4%
August 2020
75
- 15.7%
112
+ 1.8%
September 2020
74
- 11.9%
116
+ 6.4%
October 2020
75
- 14.8%
102
- 20.3%
November 2020
71
- 16.5%
103
- 20.8%
December 2020
73
- 15.1%
112
- 12.5%
Average
81
- 5.3%
120
- 6.6%
Condominium
Historical Housing Affordability Index by Month
Single Family
Condominium
250
200
150
100
50 1-2006
1-2007
1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
1-2015
1-2016
1-2017
1-2018
1-2019
1-2020
All data from the Cape Cod and Islands Association of REALTORSŽ, Inc. Report Š 2021 ShowingTime. | 6
Inventory of Homes for Sale The number of properties available for sale in an active status at the end of a given month.
December 1,692 1,369
542 377
377 218
2018 + 9.1%
2020 - 60.4%
2019 - 19.1%
2018 + 2.4%
2019 0.0%
Single Family
2020 - 42.2%
Single-Family
YoY Change
Condominium
YoY Change
January 2020
1,448
- 14.3%
399
- 1.2%
February 2020
1,500
- 13.6%
433
- 0.5%
March 2020
1,567
- 15.2%
446
- 1.8%
April 2020
1,540
- 22.0%
461
- 14.5%
May 2020
1,537
- 25.1%
456
- 18.3%
June 2020
1,343
- 35.8%
433
- 23.6%
July 2020
1,180
- 42.3%
392
- 27.3%
August 2020
1,039
- 50.5%
348
- 34.3%
September 2020
966
- 54.2%
302
- 42.8%
October 2020
866
- 56.5%
270
- 48.7%
November 2020
756
- 55.3%
243
- 47.3%
December 2020
542
- 60.4%
218
- 42.2%
1,190
- 37.1%
367
- 25.6%
Average
Condominium
Historical Inventory of Homes for Sale by Month
Single Family
Condominium
6,000
5,000
4,000
3,000
2,000
1,000
0 1-2006
1-2007
1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
1-2015
1-2016
1-2017
1-2018
1-2019
1-2020
All data from the Cape Cod and Islands Association of REALTORSŽ, Inc. Report Š 2021 ShowingTime. | 7
Months Supply of Inventory The inventory of homes for sale at the end of a given month, divided by the average monthly pending sales from the last 12 months.
December 5.0 4.4
4.2
3.9
2.1 1.3
2018 + 16.3%
2019 - 22.0%
2020 - 66.7%
2019 - 4.5%
2018 + 7.3%
Single Family
2020 - 50.0%
Single-Family
YoY Change
Condominium
YoY Change
January 2020
4.2
- 16.0%
4.4
- 8.3%
February 2020
4.3
- 15.7%
4.7
- 11.3%
March 2020
4.5
- 16.7%
5.0
- 7.4%
April 2020
4.6
- 19.3%
5.4
- 15.6%
May 2020
4.7
- 20.3%
5.5
- 16.7%
June 2020
3.8
- 36.7%
5.1
- 23.9%
July 2020
3.2
- 44.8%
4.4
- 30.2%
August 2020
2.7
- 55.7%
3.8
- 38.7%
September 2020
2.4
- 60.7%
3.1
- 49.2%
October 2020
2.1
- 63.2%
2.6
- 57.4%
November 2020
1.8
- 62.5%
2.4
- 53.8%
December 2020
1.3
- 66.7%
2.1
- 50.0%
Average
3.3
- 39.4%
4.0
- 30.2%
Condominium
Historical Months Supply of Inventory by Month
Single Family
Condominium
30
25
20
15
10
5
0 1-2006
1-2007
1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
1-2015
1-2016
1-2017
1-2018
1-2019
1-2020
All data from the Cape Cod and Islands Association of REALTORSŽ, Inc. Report Š 2021 ShowingTime. | 8
Final Days on Market Average number of days between when a property is last listed and when the final offer is accepted in a given month.
December
Year to Date 129 93
104 92
100
95
94
95
84
92 73 57
2018
2019
2020
2018
- 7.1% + 13.0% - 45.2% Single Family
2019
2020
+ 15.0% + 40.2% - 43.4% Condominium
2018
2019
2020
2018
- 13.1% + 2.2% - 11.6% Single Family
2019
2020
- 17.5% + 6.4% - 5.0% Condominium
Single-Family
YoY Change
Condominium
YoY Change
January 2020
95
- 2.1%
84
- 31.7%
February 2020
105
- 11.0%
122
+ 4.3%
March 2020
107
+ 0.9%
85
- 4.5%
April 2020
96
- 1.0%
97
+ 10.2%
May 2020
85
- 4.5%
102
+ 13.3%
June 2020
92
+ 1.1%
115
+ 4.5%
July 2020
98
+ 6.5%
109
+ 26.7%
August 2020
88
+ 11.4%
105
+ 11.7%
September 2020
81
- 10.0%
84
- 22.2%
October 2020
74
- 16.9%
106
+ 2.9%
November 2020
56
- 43.4%
71
- 12.3%
December 2020
57
- 45.2%
73
- 43.4%
Average
84
- 11.6%
95
- 5.2%
Historical Final Days on Market by Month
Single Family
Condominium
300
250
200
150
100
50 1-2006
1-2007
1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
1-2015
1-2016
1-2017
1-2018
1-2019
1-2020
All data from the Cape Cod and Islands Association of REALTORSŽ, Inc. Report Š 2021 ShowingTime. | 9
Cumulative Days on Market Average number of days between when a property is first listed and when the final offer is accepted before closing in a given month.
December
Year to Date 128
106
102
100
95
109
105
103
99
97
80 57
2018 - 12.6%
2019 + 12.4%
2020 - 47.7%
2018 + 17.9%
Single Family
2019 + 29.3%
2020 - 37.5%
Condominium
2018 - 17.1%
2019 + 3.9%
2020 - 10.4%
2018 - 21.9%
Single Family
2019 + 5.0%
2020 - 1.9%
Single-Family
YoY Change
Condominium
YoY Change
January 2020
108
- 3.6%
97
- 17.8%
February 2020
123
- 5.4%
120
0.0%
March 2020
120
0.0%
101
+ 9.8%
April 2020
112
- 2.6%
111
+ 19.4%
May 2020
100
- 2.0%
110
+ 10.0%
June 2020
109
+ 5.8%
134
+ 5.5%
July 2020
106
+ 5.0%
115
+ 29.2%
August 2020
99
+ 10.0%
109
+ 17.2%
September 2020
97
- 3.0%
90
- 18.2%
October 2020
85
- 17.5%
110
- 3.5%
November 2020
63
- 40.6%
78
- 2.5%
December 2020
57
- 47.7%
80
- 37.5%
Average
95
- 10.9%
103
- 2.0%
Condominium
Historical Cumulative Days on Market by Month
Single Family
Condominium
400
300
200
100
0 1-2006
1-2007
1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
1-2015
1-2016
1-2017
1-2018
1-2019
1-2020
All data from the Cape Cod and Islands Association of REALTORSŽ, Inc. Report Š 2021 ShowingTime. | 10
Percent of Original List Price Received Percentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting for seller concessions.
December
Year to Date
92.5% 92.7%
2018 - 0.4%
2019 + 0.2%
98.2%
2020 + 5.9%
96.9% 93.4% 93.6%
2018 - 2.3%
Single Family
2019 + 0.2%
2020 + 3.5%
94.5% 93.8% 96.0%
2018 + 0.5%
2019 - 0.7%
2020 + 2.3%
95.3% 94.4% 96.3%
2018 + 0.5%
Single Family
Condominium
2019 - 0.9%
2020 + 2.0%
Single-Family
YoY Change
Condominium
YoY Change
January 2020
92.5%
+ 0.2%
95.3%
+ 3.0%
February 2020
93.0%
+ 2.5%
94.6%
+ 0.7%
March 2020
93.9%
+ 0.5%
95.6%
+ 1.1%
April 2020
94.9%
+ 0.5%
97.0%
+ 2.9%
May 2020
95.4%
+ 0.2%
95.2%
- 0.2%
June 2020
95.2%
+ 0.4%
95.7%
+ 1.6%
July 2020
95.3%
+ 0.7%
95.6%
0.0%
August 2020
96.1%
+ 2.5%
95.8%
+ 1.1%
September 2020
96.7%
+ 2.4%
96.6%
+ 2.0%
October 2020
98.1%
+ 4.3%
97.0%
+ 4.1%
November 2020
97.9%
+ 5.4%
97.9%
+ 3.3%
December 2020
98.2%
+ 5.9%
96.9%
+ 3.5%
Average
96.0%
+ 2.4%
96.3%
+ 2.0%
Condominium
Historical Percent of Original List Price Received by Month
Single Family
Condominium
100.0% 97.5% 95.0% 92.5% 90.0% 87.5% 85.0% 82.5% 1-2006
1-2007
1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
1-2015
1-2016
1-2017
1-2018
1-2019
1-2020
All data from the Cape Cod and Islands Association of REALTORS®, Inc. Report © 2021 ShowingTime. | 11
New Listings A count of the properties that have been newly listed on the market in a given month.
December
Year to Date 5,804
195
5,461
5,278
174 146
64 47
2018 + 26.1%
2019 - 16.1%
2020 + 33.6%
2018 + 6.8%
Single Family
1,345
42
2019 - 10.6%
2020 + 52.4%
Condominium
2018 + 4.5%
2019 - 5.9%
2020 - 3.4%
2018 + 2.0%
Single Family
1,420
2019 + 5.6%
1,350
2020 - 4.9%
Single-Family
YoY Change
Condominium
YoY Change
January 2020
385
+ 13.9%
99
+ 2.1%
February 2020
440
+ 11.7%
126
+ 22.3%
March 2020
477
- 15.3%
115
- 7.3%
April 2020
274
- 56.4%
75
- 60.5%
May 2020
465
- 26.8%
104
- 35.4%
June 2020
543
+ 2.8%
129
- 7.2%
July 2020
536
+ 11.7%
137
+ 31.7%
August 2020
532
+ 1.7%
145
+ 5.8%
September 2020
591
+ 12.4%
147
+ 14.8%
October 2020
500
+ 14.7%
130
+ 4.8%
November 2020
340
+ 29.3%
79
+ 11.3%
December 2020
195
+ 33.6%
64
+ 52.4%
5,278
- 3.4%
1,350
- 4.9%
Total
Condominium
Historical New Listings by Month
Single Family
Condominium
1,000
800
600
400
200
0 1-2006
1-2007
1-2008
1-2009
1-2010
1-2011
1-2012
1-2013
1-2014
1-2015
1-2016
1-2017
1-2018
1-2019
1-2020
All data from the Cape Cod and Islands Association of REALTORSŽ, Inc. Report Š 2021 ShowingTime. | 12
Glossary of Terms A research tool provided by the Massachusetts Association of REALTORS®
Closed Sales
A measure of home sales that were closed to completion during the report period.
Median Sales Price
A measure of home values in a market area where 50% of activity was higher and 50% was lower than this price point.
Housing Affordability Index
A measure of how affordable a region’s housing is to its consumers. A higher number means greater affordability. The index is based on interest rates, median sales price and average income by county.
Inventory of Homes for Sale
A measure of the number of homes available for sale at a given time. Once a listing goes pending, sold or is taken off the market, it is no longer considered “active.” The availability of homes for sale has a big effect on supply-demand dynamics and home prices.
Months Supply of Inventory
The inventory of homes for sale (at the end of a given month) divided by the average monthly pending sales from the last 12 months.
Final Days on Market Until Sale
A measure of how many calendar days pass between when a listing becomes active (not pending) for the last time to the last time it goes pending directly before it is sold. A pending sale is defined as something classified as Pending, Active with a Flag, Contingent or Under Agreement.
Cumulative Days on Market Until Sale
A measure of the average number of calendar days that pass from when a listing is first listed to when a property goes into the last pending status before it is sold.
Percent of Original List Price Received
This is calculated as Total Sold Dollars (all sold prices added together) divided by Total Original Price (all original list prices added together).
New Listings
A measure of how much new supply is coming onto the market from sellers. It is calculated by counting all listings with a list date in the reporting period.
All data from the Cape Cod and Islands Association of REALTORS®, Inc. Report © 2021 ShowingTime. | 13