May brought a significant increase in property listings in Cape Cod, with single-family homes listed growing by 16.7% and condos by 62.6%. Although sales slightly decreased compared to last year, more homes went under contract, indicating a healthy market activity. CCIAOR President Todd Machnik highlighted the positive trend of increasing inventory, which provides relief for buyers after years of scarcity. Despite the rise in available properties, homes are still selling at or close to their list prices, emphasizing the need for serious offers from buyers in the competitive landscape.
"The biggest trend we're seeing in the market over the last few months is the increase in inventory," noted CCIAOR President Todd Machnik. "While affordability remains a persistent challenge for many buyers in our market, your eyes are not deceiving you: You are actually seeing more for sale signs across the Cape."
He continued: "This is welcome news for a region that has been starved for inventory over the last five years. Homes are still selling at or close to list price, so while the increased inventory is certainly helpful to buyers, they should still be prepared to make their first offer a serious one if they want to land the property."
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