Cape Cod Market Report 2021 Q2

Median Days On Market

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Days on Market is defined by Cape Cod and Islands MLS as the interval between the date a listing goes on the market (Status is ACTIVE) and the date the listing goes under agreement (Status is CONTIGENT). Going back to 2018 and 2019 the Days on Market results showed a consistent pattern. But in 2020 COVID radically changed that pattern into one of rapid decrease.

In Q2 the median Days on Market was down to an astounding 6 days – a 91% decrease from Q1 2020. This result of less than one week breaks the previous low record of 21 days set in Q4 2020. Note, the average Days on Market in Q2 was 30 days. This makes me think that there is a lot more we should know about Days on Market. I plan to publish soon a report dedicated to Days on Market.

Cape Cod Associates

© Bill Silver 2020 Realtor® Cell: 508-277-1000 Bill@BillSilver.com

Harwich Port, MA 508-432-8600