Today in the Cape Cod Times the news looked grim regarding the real estate market. Sales were down 33.6% for August and the median price for homes fell 6.7% to $350,000.00. August typically is a quiet month as people are here to enjoy all the Cape has to offer. They may make inquiries, but they come back in the fall to buy.
I have to say inquiries were up dramatically for me in August. I have never had as many inquiries and sign ups. Pent up demand is more than likely the reason.
Buyers or Sellers market? Certainly still a Buyers market. However if the media would back off (yes I do blame them for forecasting through their "crystal ball" for over a year regarding the "bubble burst"in real estate until it became reality... almost like magic!) this would change.
Buyers you may want to take advantage before this all corrects itself. Cape Cod is a great place to live or visit and will always be in demand. Sun, Sea and Surf are really hard to resist.
Real Estate is always a great long term investment. The quick flip may be over for the time being. You just need to evaluate are you in for the long or short term? Enjoy now or wait until someday?
Call me...I'd love to help!
Patty
Patty Radford
Realtor/Broker
Cape Cod Home Realty
774-836-0062
http://www.capecodrelo.com
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