Home Real Estate record-breaking low inventory, still-high prices

record-breaking low inventory, still-high prices

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Cape Cod and the Islands remain a seller’s market for homes, as people house-hunting in June had a historically low number of properties to choose from.

The inventory last month was the lowest for any June in about the past two decades, according to the Cape Cod & Islands Association of Realtors, which has been keeping track for the past 18 years. The drop from June 2020 was more than 60 percent, causing what the association characterized as “a serious inventory shortage” now.

At the end of June, according to association figures, there were 502 single-family homes and 137 condominiums for sale in the Cape Cod & Islands Multiple Listing Service.

In June 2020, 1,343 single-family homes were listed for sale — with a 62.6% drop in June 2021 — and 440 condos listed — with a 68.9% decrease in June 2021.

Click here for full article…www.capecodtimes.com