Cape Cod housing data from April may signal changing market dynamics, according to a preliminary report released by the Cape Cod & Islands Association of REALTORS.

Cape Cod’s housing market saw an inventory boost in April. Drawing from the Cape Cod & Islands Multiple Listing Service for Barnstable County, CCIAOR found that the number of single-family homes for sale increased by 26.9%, while the number of condos for sale grew by 76.1% on a yearly basis.

Additionally, 253 single-family homes and 60 condominiums went under contract last month, marking a 8.7% decrease year over year for single-family homes and a 1.6% increase for condos.

Prices remained high last month and homes spent longer on the market than they did during April 2024. The median sales price hit $797,912 and $480,000 for single-family homes and condos, respectively. Year over year, cumulative days on market increased by 28.3% for single-family homes. For condos, the increase was even higher at 56.4%.

“We are seeing some changing market dynamics over the last few months, with accurate pricing becoming paramount for sellers as inventory increases heading into the summer selling season,” CCIAOR President Todd Machnik said in a release. “Demand is still high for Cape Cod real estate and homes that are in good condition and priced to sell are moving fast. The upshot is that increased inventory is bringing a bit of a reality check to the market, as buyers are in less of a panic mode and are being more thoughtful with their offers. With a little bit of room to ‘sleep on it,’ some buyers are asking for more time and information about the property before they make a binding decision.”