April 1, 2010 

Residential real estate sales on Cape Cod, including Chatham, Harwich, Brewster, Dennis and Orleans continued to rise in February, according to numbers released yesterday by the Warren Group, a Boston-based real estate data company. 

The number of single-family homes sold in Barnstable County in February was up 21.4 percent, from 140 last year to 170 in the same month this year. 

These sales on Cape Cod bring the total for the year to 349, which is 15.6 percent higher than the year-to-date total at the end of February last year. 

Prices on the Cape, including Chatham, Harwich, Brewster, Dennis and Orleans were also up.  The median sales value of a single-family home on the Cape in February was $301,250, up 12.7 percent from the February 2009 midpoint price of $267,200. 

The median price on Cape Cod so far this year, $320,000, is up 16.8 percent from the same period last year, when the midpoint value was $274,000. 

When we look at the prices slowly inching up, the bank rates at all time lows, hovering around 5% for a 30 year fixed mortgage, and consider the pent up desire for property on Cape Cod, we can’t help thinking that this window of opportunity, to purchase a home here at the most desirable price, will not last long.  This may very well be the perfect time to buy!