Market Insights (July 29, 2009)

Sales volume and median prices continue to decline on Cape Cod at an identical rate with the Town of Dennis. The trend also shows a 52% reduction in sales of single family homes priced above $1,000,000.  The sale of land on Cape Cod has dropped severely with only one (1) sale since April of land priced over $350,000. With these facts in mind, pricing properties to sell needs to respect the changes in the Cape Cod real estate market especially in the mid-Cape area.

	Unit Sales (YTD)				Median Price (YTD)
	2008	2009	% Change		2008	2009	% Change
Dennis
Single Family	118	91	-23%		$328,000	$290,000	-12%
Condo	39	16	-59%		$135,000	$145,500	8%
Days on Market	126	114	-10%
% Meet Selling Price	93	94	1%
Yarmouth
Single Family	201	165	-18%		$269,000	$240,000	-11%
Condo	35	30	-14%		$240,000	$181,000	-25%
Days on Market	101	149	48%
% Meet Selling Price	92	93	1%
Brewster
Single Family	67	52	-22%		$385,000	$365,000	-5%
Condo	26	12	-54%		$245,000	$227,500	-7%
Days on Market	118	179	52%
% Meet Selling Price	94	91	-3%
Harwich
Single Family	121	91	-25%		$365,000	$324,800	-11%
Condo	6	9	50%		$237,500	$160,000
Days on Market	156	137	-12%
% Meet Selling Price	94	93	-1%
Barnstable
Single Family	328	278	-15%		$402,500	$334,300	-17%
Condo	1	2	100%
Days on Market	157	133	-15%
% Meet Selling Price	95	92	-3%
Cape Cod
Single Family	1554	1210	-22%		$350,500	$307,900	-12%
Condo	346	239	-31%		$317,000	$291,400	-8%
Days on Market	143	154	8%
% Meet Selling Price	93	92	-1%