Singles Family Home Sales on the Rise

Massachusetts single family homes sales this February topped statistical volume for the first time since 2007, according to the Warren Group. 2,350 homes sold represents a 33% increase over 2011. On Cape Cod, much of the increase in sales is driven by investors’ purchases and second-home buyers. Low interest rates are fueling interest in affordable properties.

Nationally, sales of investment homes have risen to match levels not seen since 2005. A survey by the National Association of REALTORS® (NAR) reports a 64.5% surge in investment-home sales from 2010 to 2011 while vacation-home sales rose 7% during the same period. Together, the two categories represented approximately 38% of nationwide sales in 2011.

If you’ve been on the fence about real estate on the Cape, now is a great time to seriously consider entering the market or trading up. Contact your Steele Associates Real Estate agent today for a personal consultation on local market conditions.