The Barnstable County Registry Of Deeds has released their data for the month of December. It is a good record of activity and when compared to past data it provides a guide for discussing trends. Unfortunately, it indicates a value and volume drop for some points of data.
The Register, John F. Meade reports that there were 523 deeds recorded at the Barnstable Registry of Deeds in December of 2013 for sales values above $50,000.00. The total value of county-wide real estate sales is $230,348,880.00 in December. For comparison, there were 715 deeds recorded at the Barnstable Registry of Deeds in December 2012. In 2012 the sales values above $50,000.00 had a total value of $429,576,008.00 in county-wide real estate sales.
There were 967 mortgages recorded with values above $50,000.00 in December 2013 for a total value of $370,380,179.00. And in 2012 there were 1,884 mortgages recorded with values above $50,000.00 in December totaling $634,028,900.00. That is an amazing drop in mortgage activity.
The number of deeds was down by almost 200 units. The median value of the deeds recorded was also lower. Coupled with lower mortgage activity the indicators are that the activity for purchases and refinances is off.
Lower mortgage activity could be a reflection of the time that rates have been so low. The number of owners who can refinance to get a lower rate may not be enough to support the refi departments of some institutions.
I know in my personal experience, we had more cash deals as people pulled money from of-Cape savings or investments to provide the funds for their purchases. Maybe they will refinance this year and cause a reversal of the data for 2014.
Here are a few other data points for the years 2013 and 2012:
- 2013 sales volume: 6,660
- 2012 sales volume: 6,977
- 2013 total sales value: $2,939,337,043.00
- 2012 total sales value: $3,118,098,649.00
- 2013 median sales price: $315,000.00
- 2012 median sales price: $300,000.00
- 2013 mortgage volume: 15,989
- 2012 mortgage volume: 19,381
- 2013 total mortgage value: $4,908,086,238.00
- 2012 total mortgage value: $6,143,202,509.00
- 2013 median mortgage amount: $227,130.00
- 2012 median mortgage amount: $231,260.00
Heath Coker, Associate Broker
Robert Paul Properties
www.CapeGroup.com / firstname.lastname@example.org
508-274-5613 Licensed in MA
Its a beautiful day on Cape Cod!
@CapeGroup Skype: heath.coker