Cape Cod’s real estate market started 2019 with less activity but more value when compared to January 2018.
Barnstable County Register of Deeds, John Meade, reports that the volume of real estate sales for January was down 12.5% compared to January of 2018. However, the total value of sales was up one percent from a year ago.
"If both numbers were dropping I'd be more concerned," said Meade, "in the sense that your values are going down and your sales numbers are going down. That's not a great combination. I think what we've just seen is that January is a slow month with slower sales than January 2018 but more among the higher end that pushes the median figure up."
Meade says the median individual property sale value was up 2.6% from the previous year. Based on all property sales valued above $50,000.00, the median sale price of property in Barnstable County in January 2019 was $351,000.00, up from $342,000 in January of 2018.
In addition, there was a 20% decrease in the volume of mortgage activity from January 2018 levels.
Meade says 461 deeds were recorded at the Registry last month compared to 527 recorded in January of 2018.