With 470 recorded home sales in the month of May, Cape Cod is on the cusp of a lively summer market. Year-to-date, sales are on the rise, and current inventory indicates a healthy market transitioning from the spring to summer season.
Month-over-month, the May residential market saw a 50.2% increase in sales. Leading this growth was Eastham, with a 200% increase in sales compared to April of this year, followed by Wellfleet and Mashpee with 167% and 120% growth month-over-month, respectively.
“The 2014 summer season accounted for 40% of all transactions on the Cape last year, and we expect to see a similar pattern of concentrated sales from May through August of this year,” said Dan Breault, EVP/Regional Director of RE/MAX INTEGRA, New England. “While year-over-year numbers show a decline in sales through May, all indications show the market will continue to thrive as the summer progresses.”