Cape Cod Real Estate Trends for End of Year
As a real estate attorney, Kathleen Kilkenny draws on an in-depth knowledge of the Cape Cod market. Kathleen Kilkenny has represented numerous home buyers and is herself a resident of the town of Chatham.
According to the Zillow real estate network, Cape Cod is currently a buyer’s market. The home value index of $356,900 is likely to rise 1.6 percent over the coming year. Prices tend to vary by community, with the greatest increases happening in Chatham over the past year. In the longer term, Orleans home prices have experienced the greatest average year-over-year increase. By contrast, the town of Brewster has seen a 4 percent decrease in median sales prices in the past five years but experienced an increase of only $2,910 in the past year.
Home sales remained strong through the summer of 2014, though September saw an expected slowdown. Real estate sales tend to dip as the holidays approach and pick up again in mid-January, when new homes come on the market and sellers list for their asking price. This makes the slow season an ideal time for buyers to find a good value.