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The Goode & Farmer Report – October 2021

PROVINCETOWN, TRURO AND WELLFLEET 3Q2021 FIGURES

As we begin the last quarter of the second “year like no other” we are again comforted and inspired by the way everyone stepped up smartly and safely to help make this summer season as successful as it could be. It’s also great to be able to say with confidence that the Outer Cape real estate market has weathered the pandemic better than anyone could have expected. Demand for properties on the Outer Cape remains high.

Unfortunately, coupled with this high demand, the market is experiencing a severe lack of inventory. The steadfast economic principle of supply and demand continues to be strongly at work here with higher sales prices seen in every category.

PROVINCETOWN

In Provincetown, the average sale price of condominiums increased 16% from $656K to $762K. The median sales price increased 26% to $750K from $595K, but the number of sales plummeted by 31% to 75 from 109. This represents the first substantial YTD decrease in sales in years.

There are currently only 18 condos on the market with an average listing price of $1.082M. Last year at this time there were 56 condos on the market with an average asking price of $741K.

Single-family home sales were down 28% to 26 units – a substantial decrease from 36 last year. Again, this is the result of very low inventory. The average sales price was up 30% to $1.71M from $1.42M. The median sales price was up 2% from $1.268M to $1.30M.

There are only 12 single-family houses on the market vs. 17 last year. The average asking price is $3.11M.

TRURO AND WELLFLEET

The average sale price of single-family homes in Truro skyrocketed 60% to $1.25M from $782K. The median price increased 54% to $1.049M from $682K. There were 48 sales, down 6% from 51 sales last year.

There are only nine single-family homes on the market, vs. 19 last year. The average asking price has increased from $1.26M to $1.72M.

The average sale price of Truro condominiums in the 3rd quarter increased 13% to $387K from $338K last year. The median price increased 24% to $375K from $302K. Sales increased 32% to 37 from 28 last year. This is the ONLY category that saw an increase in sales YTD. This price point is very attractive to buyers who want an affordable way into the market as well as the opportunity to live on the waterfront.

In Wellfleet, the average sales price of single-family homes was up 20% to $891K from $744K. The median price was up 35% to $803K from $597K. Sales were down 7% to 54 from 58 last year.

There are currently only eight single-family properties on the market compared with 16 last year. The average asking price of $1.651M from $1.089M last year. 

Average sales prices were up in all categories in all three towns. Sales units were down everywhere. Buyer demand for Cape property and specifically Outer Cape property remains extremely high. This historic lack of inventory was caused by the surge in sales that started in May, depleting available inventory which has not been replaced. The upward pressure on prices caused by this increased demand and lack of inventory will undoubtably continue to effect sales in the fourth quarter of this year.

Properties continue to be shown safely and transactions are closing in person or virtually. Our goal is to keep you engaged in the outer Cape Real Estate market providing you with news and market developments as they happen. Watch for interesting stories in your email and on social media at jon.goode.com.

We hope you are staying safe and remaining healthy wherever you are during these unprecedented times. We realize how fortunate we are to be here at the tip of the Cape and look forward to seeing you soon.

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Provincetown Listing of the Week – 117 Commercial St – $2.750M

117 Commercial Street is a truly iconic West End home at the jag in Commercial Street at near the Coast Gaurd Station. It has 1,360 square feet, one bedroom and a den and three bathrooms. It is being marketed for $2.750M.

MLS REMARKS: Iconic west single-family home located in Provincetown’ sought after West End. In its previous life this home was Provincetown’s ”Engine Co. 1” fire station, and was subsequently converted to a single-family home, and lovingly maintained ever since. Known to most as ” The Fire House”, this home welcomes you to its well-known porch with rockers, classic cupola and exterior charm. The home provides 3 full levels of living with peeks of the Harbor from both top levels. The second level provides a large open living space with full bath, a chef’s sized kitchen, breakfast bar, dining area for at least 8 and a large living room. One level up is the primary suite with separate bedroom and office or workout area, along with a full tiled bath. The first level features a well sized den with full bath and access to a lovely, fenced patio area. There are wood floors and bead-board throughout, stunning architecturally features, beautifully framed views of the neighborhood and only steps to the beach.

The home has onsite parking for one car and is being sold with an additional 2 car tandem space on Cottage Street. Listing courtesy of Coldwell Banker Pat Shultz Real Estate.

See all available properties for sale at Beachfront-Realty.com.

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Provincetown Sale of the Week – 9 Arch St -$2.101M

9 Arch Streeet is a three bedroom two bath single family home with 1,450 square feet. Arch Street runs between Commercial St and Bradford St across from Farland. It was listed for $1.895M and sold for $2.101M.

MLS REMARKS. Renovated antique located on a quiet, narrow lane, just a 1/2 block to Commercial St. This renovated home combines its original charm with modern amenities. Ample windows bring in natural light. You enter the home at a tiled mud room and into a spacious open-plan kitchen, dining, and living room. The kitchen features a center island, farmer’s sink, custom cabinetry, granite counters, tile backsplash, wine cooler, Jen-Air duel fuel stove, Bosch dishwasher and KitchenAid fridge. The dining and living room feature a gas fireplace and open beamed ceilings with original wood. The second floor has the laundry and 3 bedrooms. The renovated master features vaulted ceiling, walk in closet and a tiled bath en suite with double vanity. The second bedroom has peaks of the Bay. The third bedroom leads to a spacious deck overlooking the gardens. The basement is great for storage. In the rear is a private lane that leads to Pearl St. The home has 2 car parking, central AC, newer windows & roof, Australian Cypress Wood floors throughout, solar panels, gardens with outdoor lighting, Bluestone patio and a Mahogany deck.

See all available properties for sale at Beachfront-Realty.com.

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Provincetown Listing of the Week – 84 Bayberry Ave – $1.650M

84 Bayberry Ave is a terriic single family home in the west end with three bedrooms and three baths, and 2,080 square feet. It is on a half acre lot with mature plantings, patios, a fire pit, and large deck.

MLS REMARKS. 84 Bayberry Avenue is gently set back from the road surrounded by mature landscaping. This rambling ranch is a just short walk to town and has wonderful inside and outside spaces, three bedrooms and three full baths. The house lives for entertaining as well as for its lovely private spaces. The living room has lots of natural light with cathedral ceilings, a stone-faced fireplace and wood flooring. The kitchen is open to the living-room and has a large island with a second sink. It features stone counters and tiled back splash, gas cooking and a wonderful view out to the back yard. A tiled sunroom is adjacent to a large outside deck. There is an ensuite bedroom on the main level along with a guest bedroom and a den. The primary bedroom on the lower level is ensuite and has an adjacent sitting area. There is also a large family room with a bar sink, fridge and plenty of room for home theatre and entertaining – both rooms open to their own private patios with access to the backyard and the outdoor shower. There is a split-system AC, oil-fired baseboard heat, irrigation, a long shell driveway with turnaround and parking for several cars. The yard is fully fenced in for the pooches.

On a half-acre wooded lot the property offers a lovely, comfortable Cape retreat or a substantial year-round home. It literally has everything! Offered turnkey as well.

See all properties for sale at Beachfront-Realty.com.

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Provincetown Sale of the Week – 586 Commercial St #13 – $1.312M

586 Commercial Street #13 is a large two bedroom two bath condo with 1,754sf. in the East End. A penthouse with great water views, the condo was listed for $999K and sold for $1,312,500.

MLS Remarks: Located at Ship’s Bell in Provincetown’s historic East End, this 1,754 sq. ft. 2br/2ba penthouse offers open-concept living with all of the amenities you could want, and more. These features include: views of the bay; 2 parking spaces (1 on Bradford, 1 on Commercial); 2 exclusive-use decks; en-suite primary with a jacuzzi tub; in-unit washer and dryer; deeded beach access; basement storage; and even a fireplace centered between the formal dining area and spacious living room. A vaulted ceiling with skylights offers abundant natural light throughout the day! The eat-in chef’s kitchen has granite counters, stainless appliances and a breakfast bar. On the second floor, there is a rec room that would make a wonderful in-home office and has direct access to a mahogany deck with bay views. Pets for owners and vacation rentals permitted. $570 per sq. ft.

See all available properties for sale at Beachfront-Realty.com.

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Provincetown Listing of the Week – 8 Kimberly Ave $1.725M

8 Kimberly Ave is a single family home with four bedooms and 4.5 baths. It has 2,748 sf of space on a third of an acre lot.

MLS Remarks: This well-maintained and thoughtfully updated West End single family home, will truly delight you with its space, abundance of light and lush gardens. 8 Kimberly Lane is an oasis of elegant privacy tucked away in a quiet cul de sac. The main floor’s living room and kitchen are designed for open concept living with a wood burning fireplace, hardwood floors throughout and a mahogany deck overlooking the backyard. The spacious family room provides beautiful views of the front and backyards. The main floor also includes an en-suite bedroom and a half bath. The upper level is generously shared by the primary bedroom with a balcony and an additional bedroom, both boasting vaulted ceilings and updated en-suite baths. The lower level features a guest suite with tiled bath, wet bar and wood-burning fireplace. French doors open onto a stone patio with a fire pit, jacuzzi and a backyard perfect for entertaining. Listing courtesy of Gibson Sothebys Int’l Real Estate.

See all available properties for sale at Beachfront-Realty.com.

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Provincetown Listing of the Week – 11 Bradford St -$1.595M

11 Bradford Street is a three bedroom two bath single family house in the West End of Provincetown.

MLS Remarks: Antique single family home at the corner of Mechanic, Bradford and School Streets, in the West End, A 2018 remodel included a bump out addition on the first floor and two dormers on the second. The exterior is finished with a cedar shake roof and clapboard siding detailed with onion lanterns and wood shutters with working hardware. The first floor has an open floor plan, loads of windows and high ceilings. Soapstone kitchen counters, an apron sink and antique cast iron stove reference the past while Fisher-Paykel double dish drawers & wall oven keep it current. A full bath with shower complete this level. Three bedrooms and another full bath are on the 2nd floor where again high ceilings and lots of windows make the efficient layout livable. Directly off the great room a 300 square foot sundeck anchors the the backyard which is well landscaped with lawn, trees, shrubs, perennials and privacy and picket fencing. There is a garden shed, an outside shower and a well with irrigation to keep it lush. There is AC throughout the house. The laundry, oil heating system and ample storage are in the basement. Off street parking for 3 cars complete the package.

See all available properties at Beachfront-Realty.com.

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Provincetown Listing of the Week – 481 Commercial St #2 – $899K

481 Commercial Street #2 is a one bedroom waterfront condo with beach and bay views from every window. The private deck sits on the water – what a lovely way to spend your day!

The Boathouse is one the most sought-after waterfront cottages in Provincetown. This one-of-a-kind property sits on the water and has sensational views on three sides offering an extraordinary beachfront experience. The private deck provides some of the best views of the bay beach and the Provincetown waterfront. The Gallery District is right outside your door as well as some of the best restaurants in town. The living area is wide open to the deck, lovely for year-round use and has a cozy window seat overlooking the water. There is a fireplace with a warm barn-board surround. The fully equipped kitchen has a breakfast bar with a glorious view out to the east end beach and beyond to Truro. The bedroom has vaulted ceilings and a barn-door slider for privacy. The renovated bathroom has granite countertops with custom tiling. There is common laundry area and parking for one car. The Boathouse has one of the highest rental incomes in the complex – which itself is one of the top rental destinations in town.  

 See all properties for sale at Beachfront-Realty.com.

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The Goode & Farmer Report – July 2021

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Provincetown Sale of the Week – 3 Winslow St $1.83M

3 WinslowStreet is a wonderful example of an intelligently updated antique home with all the modern and timely amenities. It was listed t $1.925M and sold for $1.830M.

MLS REMARKS: Stunning Greek Revival single family home located in-town center, tucked away and private. This historic home has been carefully updated integrating its architectural roots into a more contemporary floor plan with open spaces, high ceilings and is well connected to exterior living-rooms. The home has four bedrooms and four full baths and is surrounded by lush mature gardens which accent its walled brick courtyards. Enter into the home’s vestibule which leads to a light filled open living room and dining room with high ceilings, a wood burning fireplace and a hidden wine cellar. The dining room has a wall of glass with French doors to a walled brick courtyard with parterre garden. The garden provides year-round interest from its structure and its variety of plantings. Off the dining room is a Cape styled kitchen with beautiful white cabinetry, updated and upgraded appliances (Bosch, Thermador and Miele), lots of counterspace, and a banquette for casual dining. The kitchen leads to another brick courtyard, ideal for morning coffee. There is a well sized bedroom suite on this level that has been re-purposed as an office.

This room is anchored by another wood burning fireplace , a full bath , a dry sauna along with access to the courtyard, an outdoor shower and just steps to an exercise room! The second level has three bedrooms. The primary suite has high ceilings, built-in bookcases, and a sitting area. There is a large master bath with radiant heat, a soaking tub and a walk- in open tiled shower. On the opposite side of this floor are two spacious guest bedrooms, with sitting areas along with another full bath. This home at 3 Winslow Street combines historic accents to modern day living requirements and luxuries.

See all available properties for sale at Beachfront-Realty.com.