Year-over-year, the residential Cape Cod market experienced impressive growth, with sales up 20.44%, average days on market down 19.2%, and a modest increase in median sold price. The Outer Cape saw dramatic increases in transactions in July with Wellfleet, Eastham and Provincetown all seeing triple-digit growth over July 2014.
With 495 recorded home sales in July, the market continues to follow typical seasonal trends. Month-over-month, sales decreased as expected, but still accounted for 18.5% of this year’s total transactions.
“While month-over-month numbers show a decline in sales, transactions in July were at the second-highest so far this year, bested only by June’s numbers,” said Dan Breault, EVP/Regional Director of RE/MAX INTEGRA, New England. “Historic patterns suggest we’ll see modest gains in transactions over the next few months as folks return from vacation and settle into their regular routines.”