Tuesday, October 28, 2008

Cape's Single-Family Homes Sales Rise by Laurie Novak

This is an article from the Cape Cod Times on 'October 28, 2008'. All for your info.
By Cape Cod Times
October 28, 2008
Home sales on the Cape mirrored trends seen across Massachusetts and nationwide in September, showing a jump in volume and a continued decline in median price.
Numbers released yesterday by The Warren Group showed a 17.98 percent increase in the number of single-family sales in Barnstable County, at 315 compared with 267 in September 2007.
The median price slipped 20.69 percent year-to-year, from $435,000 to $345,000.
Dukes and Nantucket counties showed a drop in single-family home sales volume.
Vineyard sales declined from 28 in September 2007 to 14 last month, and the median price fell from $997,500 to $512,500.
On Nantucket, sales dropped from 26 to 17, but the median price showed a slight rise from $1.86 million to $1.9 million.
Nationally, an unexpected 2.7 percent increase in year-over-year home sales for September, to 464,000, helped keep markets buoyant for much of the day yesterday, despite a 9.1 percent drop in median price in the same time frame.
Statewide, single-family home sales volume increased 5 percent from September to September, while median price dropped 13.2 percent, according to numbers released yesterday by the Massachusetts Association of Realtors.
The Cape's condo market showed a small increase in the number of September sales, from 83 a year ago to 89, but the median price fell from $344,400 to $240,000.
Statewide, the condominium market was down 9.6 percent, from 1,808 in September 2007 to 1,634 last month, The Warren Group reported. Using a different methodology, the Realtors group showed a decline of 11.5 percent in condo sales year-over-year for September.

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