Hi! I’m Bill Silver. I’m a realtor with Cape Cod Associates Real Estate in lovely downtown Harwich Port. Welcome to my Q1 2020 Forecast for the Cape Cod real estate market. All the data in this report is for single family homes, in Barnstable County, and listed on Cape Cod and Islands MLS.
This report is also available as a printable FlippingBook slideshow. See it and all my Cape Cod real estate market reports at:
Bi l lSi lverMarket .com
OK, let’s take a peek into the future and see where the Cape Cod real estate market is going in Q1.
My accuracy goal for all my market forecasts is for them to be greater than 95% accurate.
The accuracy of my previous forecast was:
My Q4 Forecast for PRICE was 99.4% accurate – which is consistent with my previous Price forecasts. My Q4 Forecast for Number of SALES was 97.9% accurate – which is somewhat better than my average sales accuracy.
The Median Sold Price will Inch UP again in Q1 . My forecast for the median sold price in Q1 is: $445,000 dollars . Quarter-to-Quarter, the median sold price will be UP 1.6% from the $438K in Q4 . But, always more importantly, Year-to-Year, the median sold price will be Up a hefty 7.2% from the $415K in Q1 2019 .
The Year-to-Year median sold price will then have gone UP 16 quarters in a row – and 28 of the last 30 quarters . It seems the price BUBBLE will continue floating upward.
My forecast for the number of sales in Q1 is: 846 . Quarter-to-Quarter this will be DOWN 21.2% from the 1,073 sales in Q4 . The expected Q1 DiP. More importantly, Year-to-Year sales will be UP again after 2 DOWN quarters.