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Cape real estate sales volume up, but prices remain low


 
05.11.2008

Cape real estate sales volume up, but prices remain low


 

Real estate sales volume was up last month as compared to October 2007, according to the Barnstable County Register of Deeds.

Last month, 555 deeds were recorded at the registry, an increase of 5.3 percent from the 527 deeds filed in the same month last year.

Sales volume has been up in three of the past four months, which could be a sign that falling prices are close to hitting bottom, register John Meade said.

"An increase in volume is an indicator that we may have hit a bottom relative to pricing," he said. "Obviously, as demand increases, pricing somewhat follows."

Median sales value in October was $312,000, continuing to hover in the low $300,000s, as sales values have since March. Last year at this time, median sales value was $345,000. Registry numbers reflect all commercial and residential sales valued above $50,000.