The Cape Cod real estate market is poised for a strong finish to 2024, according to the Cape Cod & Islands Association of REALTORS® (CCIAOR).

Both single-family homes and condominiums had double-digit growth in November. 

By month’s end, 202 single-family homes and 57 condominiums went under contract. That’s a 15.4% increase in single-family home sales and a 62.9% increase in condo sales from November 2023.

Prices were mixed last month, as the median price of a single-family home fell from last year, while condo prices rose. 

In November, 331 home sales closed on the Cape, including 262 single-family homes and 69 condominiums at median prices of $739,000 and $545,000, respectively. A year ago, 228 single-family homes and 70 condos sold at median prices of $772,500 and  $530,000.

Both new home listings and condo listings had growth in November.

By month’s end, 623 single-family homes and 185 condominiums were listed for sale in the Cape Cod & Islands Multiple Listing Service. That’s an 8.3% increase in single-family home listings and a 23.3% increase in condo listings from November 2023.

The CCIAOR noted that despite the increase in sales, available inventory remains historically low — less than half of what was available in 2020, before the pandemic.

Homes are also staying on the market longer. 

Average days on market for single-family homes increased from 31 days to 40, up 29% from a year prior. Condominium days on market also grew, increasing 154.2% from 24 days to 61.