The real-estate market on Cape Cod has been red-hot since the pandemic began, and it’s still on fire.
The median price for a single-family home on Cape Cod before the pandemic began was $450,000 – now it is nearly at $620,000.
Cape Cod Chamber of Commerce CEO Paul Niedzwiecki said on the Chamber’s latest podcast that it typically comes down to supply and demand: when housing prices are high, build more housing to offset that demand.
But there’s just one problem, the Cape is just about as developed as it can be.
He says it’s also having an impact on the employment market, with businesses in a bind when it comes to finding available workers living on Cape Cod.