Based off a recent article in the Cape Cod Times and statistics released by the Cape Cod & Islands Realtors’ monthly sales report it is clear to see that there are plenty of buyers in today’s market but not enough homes for them to choose from.
Historically low interest rates are contributing to the large mass of buyers and is resulting in an 8.3 percent increase in median sales prices for single family homes since this time last year. With demand up and supply down competition is driving prices up. Though sale prices and number of buyers are growing the amount of homes that are for sale is 1,200 fewer than this time last year.
Our advice? If you are thinking about selling your home now is the time to put it on the market! You never know how high the competition will drive up the price of your home! Call us to see what we think you could sell for.