The Cape Cod residential market hit its stride in June with 591 recorded sales. Year-over-year, sales are up 12.1% and heightened consumer demand is moving homes off the market quicker during the peak summer season, with communities seeing as much as a 54% decrease in average days on market.
Month-over-month, the residential market saw an increase in inventory and a 24.4% increase in sales. Truro led this growth with an impressive 180% increase in sales over May 2015, while median prices in the town increased over 50%. On the Mid-Cape, consumer demand was strong in Dennis with a 38% increase in sales, a 14% increase in median price and average days on market significantly decreasing over May.
“As expected, the housing market on the Cape is continuing to gain momentum,” said Dan Breault, EVP/Regional Director of RE/MAX INTEGRA, New England. “While June historically marks the height of the summer market, we are still in the midst of a prospering, consumer-driven climate, marked by surging seasonal sales.”