Have we reached bottom yet? Isn’t that the question on every real estate buyer’s mind? Statistically, both median sales price and sales volume on Cape Cod is reported to have fallen from February 2010 to February 2011. However, January statistics for 2010 vs. 2011 showed the median sale price to have risen. So has the market touched bottom? We’d all love to have a crystal ball.
The bottom line is this: real estate prices on Cape Cod have moderated considerably from their peek; interest rates remain low; inventory is high in a variety of price ranges. Whether we’ve hit bottom or not it a topic for debate. What is undeniable is that if you’ve been searching for a piece of Cape Cod property to call your own, with all things considered, now is a great time to buy on the Cape.