I thought that you might be interested in some recent statistics that show the current status of both the national and local real estate markets.

• The National Association of Realtors reports that, nationally, sales of existing homes rose 3.7% in March, but were down 6.3% from March 2010. First time buyers purchased 33% of homes this March compared with 44% of homes in March last year.
• Also from NAR, existing home sales in the Northeast rose 3.9% in March, down 12.1% from March last year. The median price was 3% lower at $232,900.
• The Massachusetts Association of Realtors reports that single family sales in Massachusetts were down 22.4% in March compared with March 2010 and median prices dropped 2.3% to $273,474. Condo sales dropped 23.5% in March 2011 compared with March 2010 and median price dropped 8.4% to $234,500.
• According to the Cape and Islands Association of Realtors, single family sales in Barnstable County in March were down 14.98% and the median dropped 11.73% to $315,016 from March last year. Condo sales dropped 20.75% and the median dropped 14.24% to $198,588.

As you can see, this is still a very challenging market to try and sell a house or condo. Buyers, on the other hand, have a great opportunity to get a beautiful home at a very reasonable price.

Tags: Cape Cod , Condominium , condos , cottage , empty nesters , Falmouth , first-time buyers , first-time homebuyers , homes , NAR , National Association of Realtors , real estate , second homes , statistics , vacation , vacation homes

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