The latest housing market trends
by Cape Business staffSeptember 20, 2006 -- After a drop in housing inventory, September has seen the supply of unsold property on Cape Cod spike once again. From a peak of 6,873 properties in mid-summer, the inventory number dipped as low as 6,765 during the first week of September. But as of this week, that number had risen again – to just above 6,850, according to Cape Business’ partner, Cape Property Search.
August registered a total of 455 properties sold, down about 10 percent from July and just about half the number of properties sold in June. The median price for all these properties last month was $325,000, compared with $369,000 in June, reported Cape Property Search. For more detailed information on these figures, click here.
This analysis is derived from the Multiple Listing Service. Meanwhile, the Barnstable Registry of Deeds reports from its database different numbers, but the same downward trend.
Volume of real estate sales was down 33.6 percent from August 2005 and the total value of sales was down 33.3 percent from the previous year. The median individual property sales value was down 6.7 percent from the previous year.
Don’t expect better news anytime soon. There was a 27.3 percent decrease in the volume of mortgage activity from August 2005 levels.
According to the registrar, year to date the numbers are: volume of sales, down 23.2 percent; total value of sales, down 8.3 percent; individual sales value, up 1.7 percent; and mortgage volume, down 16.9 percent.
Specifically, there were 489 deeds recorded at the Barnstable Registry of Deeds in August 2006 with stated sales values above $50,000 representing a stated value of $235,690,182 in countywide real estate sales.
Based on all property sales valued above $50,000, the median sale price of property in Barnstable County in August was $350,000.
There were 1,823 mortgages recorded with values above $50,000 in August with a total value of $551,559,848. The median mortgage amount, commercial, residential or other, was $200,000.
By way of comparison, in August 2005, there were 736 deeds recorded at the Registry of Deeds with stated sales values above $50,000, representing a total value of $353,589,100 in county-wide real estate sales. The median sales price, based on all property sales values above $50,000, was $375,000. There were 2,507 mortgages recorded in August 2005 with values above $50,000 with a total value of $820,066,920. The median mortgage amount, commercial, residential or other, was $220,000.
REAL ESTATE ACTIVITY THROUGH AUGUST 2006 AS COMPARED TO THE SAME PERIOD IN 2005.
All figures are based on sales or mortgages ABOVE $50,000.
2006 sales volume: 4,270
2005 sales volume: 5,559
2006 total sales value: $2,445,258,717
2005 total sales value: $2,665,111,171
2006 median sales price: $370,000
2005 median sales price: $364,000
2006 mortgage volume: 15,124
2005 mortgage volume: 18,202
2006 total mortgage value: $5,010,347,180
2005 total mortgage value: $5,747,148,530
2006 median mortgage amount: $214,503
2005 median mortgage amount: $215,000
TRAILING TWELVE MONTHS MEDIAN SALES VALUE:
(Sales values above $50,000)
M/Y Value % Differential/prior month
Aug 2005: $375,000.00 +2.6%
Sept 2005: $369,000.00 -1.6%
Oct 2005: $367,000.00 -0.5%
Nov 2005: $369,100.00 +1.1%
Dec 2005: $356,550.00 -3.4%
Jan 2006: $367,350.00 +3%
Feb 2006: $370,000.00 +0.7%
Mar 2006: $354,900.00 -4.1%
Apr 2006: $370,000.00 +4.3%
May 2006: $365,000.00 -1.4%
June 2006: $390,000.00 +6.9%
July 2006: $365,000.00 -6.4%
Aug 2006: $350,000.00 -4.1%
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