Jon Goode

Even with the volatile world we are living in, as of May 15, our real estate market has performed pretty close to last years numbers. The fact that we are a model of consistency year over year is pretty wild. Who’d of thought?

Here is a quick snapshot of 2025 vs 2024 YTD sales in our three outer Cape towns as of May 15.

31 Provincetown condos have sold with an average sales price of $1.2M, vs last year 35 sold with an average sales price of $900K.

12 Provincetown single family properties sold with an average sales price of $2.3M, vs 7 sales last year with an average sales price of $2.1M. This increase in unit sales is the only dramatic change year over year so far in early sampling.

In Truro there were 12 single family sales averaging $1.3M vs 10 sales last year with an average sales price of $1.8M.

In Wellfleet there were 15 single family sales with an average sales price of $1.3M vs 16 sales last year with an average $1M in 2024

Crazy huh?

Housing could actually be the safest investment in America right now, if you assume that even a mild recession might result in lower mortgage rates down the road and therefore greater affordability.

And with all this said here are three really terrific properties that are being listed by our office Beachfront Realty that represent our market well. A single family house in Truro with all the extras, a classic West End Cape on Bradford St and a surprising mini triplex in the West End at Meadow Road.

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

294 Bradford St is a single family home with three bedrooms and five bathrooms. (three full and two half baths) and 2,190 square feet. It sold for $3.1M with an asking price of $3.2M. It was a new build in 2019 and is located just before the Bradford St Commercial St split in the East End.

MLS REMARKS: This handsome home was built well beyond the usual standard in 2019 and very gently enjoyed. There are three spacious bedrooms, all ensuite. The primary features a walk-in closet and a spa bath you’ll never want to leave. The bathrooms warm with radiant heat flooring for the cooler months. The top floor living space features a well-planned open kitchen with top line appliances, a brunch bar and separate dining alcove adjacent to a broad living room with gorgeous water views of Cape Cod Bay. Top quality components include wide white oak flooring, Pella vinyl clad wood windows, solar-powered automatic skylights, super high efficiency heat exchangers for heating and cooling, on demand hot water, a whole house generator, and a two car garage. The driveway/parking area is finished with pavers and granite block.

Seascape Realty was the listing firm and Gibson Sothebys Int’l Realty was the selling firm.

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

PROVINCETOWN TRURO AND WELLFLEET 1Q2025 FIGURES

CONFIDENCE IN KNOWING THAT OUR REAL ESTATE MARKET WILL ALWAYS OVERPERFORM

Confidence is catchy. Recent economic developments have upended everything we think of as normal across world markets. The irony is that while our lives may well be impacted by all the volatility, the comfort of spring in Provincetown is visceral. The season is approaching like normal, and boy is that a good feeling. Restaurants and shops are beginning to open and Commercial Street is getting its annual reset. This year’s mild winter allowed for an inordinate amount of new construction and renovations to continue throughout Provincetown. We will be looking closely at market developments in April which will help detect the overall direction of the market this spring.

Demand remains high and inventory remains at the new normal level. First quarter results are generally mixed. As I say every first quarter, results are so difficult to analyze because of the small number of sales. Single-digit sales are hard to attach any significance to, but the first quarter does begin to set the tone for the spring selling season. Sale prices are up in every category except for Truro single-families. Provincetown and Truro single-family property sales are up, sales in other categories are down.

Lower overall sales numbers provide less of a sample from which to derive real trends! There is simply not a lot of data to analyze, but I will do my best to provide insights as well as provide all the empirical data that you will see in the charts below.

PROVINCETOWN

Condominium sales in Provincetown were down 16% to only 15 from 18 for the first quarter of the year. The average sale price increased 26% to $1.2M from $940K. There are 34 condos on the market as of April 13 with an average listing price of $1.2M – last year there were 25. Eleven years ago in 2014, there were 112 condos on the market!

Single-family home sales were up 33% to 4 from 3 this first quarter. The average sale price increased by 3% to $2M from $1.98M. There are 22 single-family homes on the market as of April 13, with an average listing price of $3.7M.

TRURO & WELLFLEET

In Truro, there were only six single-family home sales, but up from five last year. The average sale price was down 25% to $1.5M from $2M last year. The median price was down substantially to $1.2M from $2M. As of April 13, as we “go to press” there are seventeen properties on the market versus eight last year. The average listing price is $1.7M.

There were only two condominium sales in Truro. The average sales price was up 78% to $846K from $474K. There are only eleven on the market with an average listing priced of $550K.

In Wellfleet, the average price of single-family homes was up 13% to $2.1M from $1.15M. Sales were down 80% to 2 from 10. There are 22 single-family homes available for sale with an average listing price of $1.7M. Last year, there were only 11.

NEW CONSTRUCTION AND RENOVATIONS EVERYWHERE THIS SPRING SHOW ONGOING CONFIDENCE IN OUR LOCAL REAL ESTATE MARKET

Sounds of ongoing construction can be heard all around Town. In my neighborhood alone, the “Franklin Hills” – (Franklin Street and Race Road) almost every property is being renovated or updated. This illustrates the confidence that we all see in our local real estate market. However, with interest rates hovering in the 7% range, other fundamentals still need to change in order to return to a more balanced market.

Prepared buyers are still finding their dream homes though, and sellers are taking advantage of the strong seller’s market. Patience, knowledge, preparedness and flexibility are key – whether buying or selling in these truly unusual times.

As always, my goal is to keep you engaged in the Outer Cape Real Estate market by 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. I hope to see you on the streets soon. Stay well.

One of the most spectacular homes in the West End, this three bedroom four bath showplace is exceptional. The home is sited beautifully overlooking the Blueberry West Vine Valley towards downtown and the Bay. It has 4,286 square feet on three floors of living. It sold recently for $3.8M. It was my pleasure to have represented the buyers in this transaction.

MLS Remarks: Spacious open living areas, three sumptuous bedroom suites, and resort-style pool and grounds make 65 Bayberry the perfect home both for gathering and retreating. Perched high above the West End, this expansive cape style home maximizes the ever-changing views of the townscape and bordering nature preserve.The home’s top level is airy and light, with vaulted ceilings and windows galore. This expansive space provides entertaining options both casual and formal. Here you will find a high-end kitchen with all the right ingredients. Among them are a large island with La Cornue oven and cooktop, custom cabinetry, dual dishwashers, and paneled Sub-Zero refrigerator/freezer. The lounge area off the kitchen, complete with wet bar and wine refrigerator, is ideal for sunset cocktails or morning coffee. Nearby is a spacious hexagonal dining room surrounded by windows that provides the perfect setting for dining among the treetops. Completing this floor is an inviting living room, with a gas fireplace, multiple seating areas, and a tucked-away powder room.

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

8 Meadow Road #6 is a two bedroom two bathroom townhouse in the Meadow Road condominium complex in the West End. This beautifully landscaped collection of cul de sacs is one of the most charming locations in town. This condo has 954 square feet, a deck off the kitchen and a large private patio with conservation land beyond. It is being marketed for $1.225M.

There will be an open house on Saturday March 29 from 12 to 1:30.

MLS Remarks: This stunning three-level townhouse-style condo at The Meadows in Provincetown’s sought-after West End is a delight. Featuring two bedrooms and two bathrooms, this beautiful residence is just minutes from Herring Cove Beach and downtown Provincetown. The main floor boasts an open floor plan living room and a well-appointed eat-in kitchen, complete with a balcony, perfect for a small table and chairs. High ceilings and large windows flood the living room with natural light. Upstairs, the primary bedroom offers an en-suite bath and large windows that capture the western light. The second bedroom, located on the lower level, includes its own bathroom and walk-in closet, making it ideal for use as a home office, den, or gym. Sliding glass doors lead to a spacious private patio. Designed for modern comfort, this townhome features high-efficiency heating, additional split AC/heat units, and a thoughtful layout that emphasizes outdoor spaces. Lightly lived in, this condo is perfect for anyone seeking a prime West End location. Pets are welcome for owners. One rental of any length per quarter allowed.

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

No daffodils yet, but there are hints of the emerging spring market to come. This new listing is one of the most charming waterfront properties in Provincetown. It has a total of three bedrooms, two and one half baths with a total. of 1,098 square feet. Hidden behind hedges and fences in the East End, this property is vey special having been the historic home of Eugene O’Neill in 1916 and later the photographer Joel Meyerowitz

MLS REMARKS: Welcome to your private waterfront retreat in the east end of Provincetown! This enchanting 3-bedroom, 2.5-bathroom compound composed of a cottage and separate studio seamlessly blends a casual beach charm with modern amenities, offering a serene escape and breathtaking views of Provincetown Harbor. The 2-bedroom, 1.5-bathroom cottage feels like a step back in time, with wide pine floors, exposed wood beams, and a wood-burning fireplace. The inviting living room boasts large sliders that open onto the waterfront deck, allowing you to enjoy stunning bay and light house views. The well-appointed kitchen features butcher block countertops and ample cabinetry, perfect for preparing meals while taking in the sunset. A stylishly renovated full bath with contemporary tile work blends modern comfort with functionality. The laundry area, complete with a folding station, is situated outside the bath.

The second-floor staircase, framed with boat oar bannisters, leads to a landing with the guest bedroom to the left, the primary bedroom to the right, and a half bath in the middle. The primary bedroom offers panoramic water views, creating a peaceful sanctuary. The guest bedroom overlooks the front of the home. A charming half bath on the second floor completes the comfort of the bedroom level.

Across the lush lawn, the stand-alone studio suite with its own full bath and kitchen offers flexible living arrangements.This studio ensures privacy and independence and could be a stunning waterfront at-home office.

The highlight of the property is the spacious waterfront deck with outdoor shower, which provides unparalleled views of Provincetown Harbor with landscaping that provides a privacy rarely available with waterfront properties.

This listing is courtesy of Gabby Hanna at Gibson Sothebys Int’s Real Estate.

See all properties for sale at Beachfront-Realty.com

Granted, the country has an affordability problem and we certainly see that here too, but what is surprising is that 55% of all condos sold in Provincetown in 2024 sold under $1M. The luxury market does tend to get most of the press, mine included, but to see these numbers and the high quality of the real estate involved indicates a healthy and diverse Provincetown market.

This category includes a surprising number of waterside Commercial Street condos, great bay front condos at Beach Point, West End one beds as well as a larger two bedroom two bath condo at Seashore Pines.

The average sales price of the 113 condos sold in Provincetown last year was $1.11M. The median price was $940K.

Three of my favorites are featured below.

27 Franklin Street #3 is a one bedroom studio with one bath and 415 square feet. It’s location in the West End is perfect. It sold for $395,000 last March.

MLS Remarks: West End Condo…this lower level studio with cozy living/sleeping alcove has a brand new look….new flooring, new appliances, and fresh paint throughout. With approximately 415sf of living space, this is a great place for year round living or a summer getaway. Features include propane heat and cooking, work space in foyer, exclusive deck, beautiful common yard, shared storage shed, and parking. This condo is part of a small well-maintained 3 unit association in a great location between Bradford and Commercial. Title V septic, non-smoking association, weekly rentals and pets for owners, low condo fees under $100/month!

383 Commercial Street #8 is a one bedroom condo in Bull Ring Wharf, a sought after waterfront complex in the East End. It has 562 square feet. It sold for $795K in September.

MLS Remarks: Minutes to the beach, shops, and restaurants in the much sought after Gallery District of Ptown! This tasteful, well-laid-out open plan condo has a spacious updated kitchen and bath, large bedroom, small bonus room/study, and windows with bay views — the perfect vacation home or rental property! The kitchen has plentiful cabinets, quartz counters and stainless steel appliances. Meet new friends, enjoy morning coffee and watch fabulous sunsets over the bay from the large common waterfront deck. Weekly rentals and pet-friendly for Owners. Parking in front of your unit, common grills, bike rack, restaurants and shops literally at the top of the driveway— who could ask for more?!

8 Seashore Park Drive #14 is a two bedroom, two and one half bath condo with 880 square feet. It sold for $860K last August.

MLS Remarks: Welcome to Seashore Pines, where coastal living meets the wonders of the National Seashore just minutes away. This inviting first-floor space features natural light, wide-plank vinyl flooring, and a cozy gas fireplace. The dream kitchen boasts top-of-the-line appliances, including a Theodore gas stove and LG refrigerator, all set against elegant Cambria Quartz countertops. Upstairs, find generous-sized bedrooms and a beautifully tiled full bath with a rain shower head. The remodeled lower level adds over 400 sq ft of living space and another full bath! Sliding glass doors open outside to the the deck, a perfect outdoor oasis with a retractable awning. This pet-friendly condo allows two pets and permits rentals of 30 days or more.

I’ll follow this post with a look at the single family market in 2024, and more thoughts on the emerging 2025 market.

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

“Trophy” houses always get the most attention and these three illustrate the best of 2024. Each property is unique, and represents the luxury housing stock in these three towns. Each of these Cape Contemporary homes has it’s own wonderful water element, views and access.

WELLFLEET

20 4th Avenue in Wellfleet is a five bedroom six bathroom home with 4,022 square feet. It sold for $2.775M, and was listed at $3.29M. It was on the market for 219 days.

53 single family homes sold in Wellfleet in 2024. The average sale price was $1.05M.

MLS Remarks:  This 2018 Cape Contemporary home on Lt. Island is a serene and peaceful retreat. With 5 bedrooms and 5 1/2 bathrooms, it provides ample space for the whole family. The main floor features an open living, dining, and kitchen area with cathedral ceilings and sliding glass doors that lead to a spacious deck overlooking the Bay. The deck is perfect for taking in the breathtaking views and enjoying the tranquility of the surroundings. There is also a 3-season porch providing another wonderful space to relax and unwind, a main bedroom with bathroom, a laundry room, a half bathroom, and a mud room on this level. The second story has two large bedrooms with their own bathrooms and a storage room.

TRURO

5 Bearberry Lane in Truro is a three bedroom, two bathroom home with 1,929 square feet. It was listed at $3.750M, and sold for $4.010M. It was on the market for 190 days.

37 Single family homes sold in Truro in 2024. The average sale price was $2.6M.

MLS REMARKS: More than two spectacular acres of privacy on Cape Cod Bay at Great Hollow. The contemporary Cape-style home has unobstructed 180-degree views up & down the Outer Cape’s curving coast. The layout is perfectly centered around the Great Room with a cathedral ceiling & a sunken living room with a wood-burning fireplace and spacious dining area. A bank of sliders and windows leads to the deck and showcases the sunset side of the house with the bay and Provincetown. The bedrooms are located on opposite sides of the house. The guest wing has two bedrooms with vaulted ceilings. The primary bedroom also has a vaulted ceiling & an ensuite bathroom with a lovely new shower. Sliders lead you to another private deck facing the bay. At one end of the house is a screened porch. The private beach stairs are shared with only five other homes which are all part of the same small homeowner’s assoc. A gorgeous private beach awaits you at the bottom!

PROVINCETOWN

9 Oppen Lane in Provincetown is a four bedroom four and one half bath home with 4,082 square feet. It was listed at $7.850M, and sold for $6.883M. It was on the market for 256 days.

29 single family homes sold in Provincetown in 2024. The average sale price was $2.24M

MLS REMARKS: Exclusive estate home, available on the open market for the first time, it’s a rare gem waiting to be discovered. Don’t miss out on this once-in-a-lifetime chance to call this exquisite property your own. ”Windswept” in Provincetown offers breathtaking water views from Long Point to Hatches Harbor and beyond. This four-bedroom home sits atop the highest point in the area, providing unparalleled vistas. The entrance features a circular estate driveway and bluestone patio stairs, setting the tone for the luxurious experience ahead. Not only are the views mesmerizing, but ”Windswept” also boasts manicured grounds with an inground saltwater pool, hot tub, and an outdoor kitchen. Dual outdoor dining spaces, shaded lounging areas, and wraparound decks complete this entertainer’s dream. The main living space offers elegance and tranquility with its open layout, 14′ high white beamed vaulted ceilings, and Brazilian cherry floors. The centerpiece is a grand stone gas fireplace, while floor-to-ceiling windows frame the panoramic views.

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

I am still amazed at the range of prices we see in our Provincetown market. Of course the “luxury” market gets all the attention but there are plenty of properties that are relatively affordable, and like this one at Beach Point is just steps to the water. The fact that many of these are investment type properties and can be rented, make them that much more affordable for buyers.

The highest priced condo sold in Provincetown was 47 Commercial Street #A. It was listed for $3.750M and sold for $3.250M/$1,325 per square foot. This free standing condo has 2,452 square feet and has four bedrooms and three bathrooms. Located on the water on what is considered the best block of Commercial Street in the West End, this condo is quite a special property.

MLS REMARKS: Discover a piece of history with this remarkable 1800s floater, the only three-story structure of its kind that elegantly floated across the harbor from Long Point. Spanning 2,450 square feet, this free standing home offers 4 BR and 3 BA, including a water view office area. The primary suite, located on the top floor, is a true retreat with an ensuite bath, a cozy gas fireplace, and unobstructed views of the harbor and Long Point. The living spaces include a living room with a charming wood-burning fireplace, a family room with a fireplace, and a formal dining room perfect for gatherings. The gourmet kitchen is equipped with a 6 burner Viking gas stove with griddle, a Subzero refrigerator, and two dishwashers, catering to all your culinary needs. Step outside to an exclusive use brick patio, ideal for al fresco dining and lounging, and enjoy common access to the beach for endless seaside fun.

The lowest priced condo sold in Provincetown in 2024 was 963 Commercial St #49. This is a three season waterfront studio at Beach Point with 258 square feet. It was listed for $375K, and sold for $350K. ($1,356 per square foot).

MLS REMARKS: Live a carefree summer lifestyle in this studio unit located at the Beachpoint Club in Provincetown. This unit could easily be converted to year round living. Weekly rentals allowed. Low maintenance tile floors throughout. Kitchen with gas stove, full bath with tub. Sliding glass doors lead to rear deck with water views and there is a patio area in the front. There is a common, in-ground pool and a path to the expansive bay beach. Parking for 1 car with guest spots. A pet is permitted with Trustee approval. Weekly rentals permitted in summer.

The median price of condos sold was $940K, represented by 7 Stable Path #A. The median price is the mid point of all condos sold. This condo in the new Provincetown Heights development has two bedrooms and two bathrooms with 1,434 square feet. It had a listing price of $895K and sold for $940K.

MLS Remarks: Welcome to Provincetown Heights. A short way from the hustle and bustle of Commercial Street, this relatively new condo development is located north of Route 6. Provincetown Heights offers privacy and easy access to the beaches, bike trails and nature walks. This stunning soon to be constructed townhouse offers peeks of the Bay and Provincetown Harbor and features 2 bedrooms and 2 baths. Hickory floors add warmth and durability throughout the unit. The kitchen features the minimalist-contemporary look of Miralis cabinetry, and is complemented by Caesarstone quartz counters and glass tile backsplash and Bosch appliances, including a propane gas range. Bathrooms feature radiant heated floors, Moen Align faucets and tiled walls. The condo has ENERGY Star® rated heating and cooling via an efficient heat pump mini-split system. A propane gas fireplace provides additional warmth and ambiance.

There were a total of 113 condos sold in Provincetown in 2024 up 13%. The average sales price was $1.110M up 19%.

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

PROVINCETOWN, TRURO AND WELLFLEET 4Q2024 FIGURES

Provincetown Condos Roar Back, But Other Categories Show Mixed Results!

In the past several years, the lack of inventory pretty much defined our market. After the pandemic buying spree, there was very little available. In the last several quarters we have seen inventory increases which have created some welcome market balance in 2024. We do have more inventory, but still not enough for everyone.

However, we’re still seeing mixed results even with these increased inventory levels. Fluctuations within categories is the norm now – even without this one major issue defining it. The availability of more condos in Provincetown, means increased sales. Less single-family availability in Wellfleet, means fewer sales. Interestingly, for the last few years, Wellfleet had the most balanced market with plenty of inventory, increasing sales and prices. But last year, both sales and prices were down.

More inventory creates more choices for buyers and more competition for sales within each category. Still, when compared with many other markets, our inventory is very limited. Stubbornly higher interest rates – currently around 7% – will continue to put additional pressure on the market.

But, we must always remember when analyzing the Outer Cape real estate market, that the sample sizes are really small, compared with other markets on the rest of the Cape and elsewhere. And one outsized sale in any market can skew averages wildly. Provincetown and Outer Cape real estate performs like the best neighborhoods in many cities. This market will always outperform the rest. That will not change going into 2025.

PROVINCETOWN

In Provincetown, condominiums and single-family property sales were both up. Condo prices were up but, single-family prices were down slightly.

• Condominium sales were up 13% to 113 from 100. Sale prices were up 19% to $1.110M from $937K.

• 27% of condo sales were over-asking. This means many properties are selling at or below asking prices.

• There are 25 condominiums on the market listed in MLS as of January 7. The average asking price for these condominiums is $1.17M ($1,890 per square foot).

• Single-family home sales were way up, 53% to 29 from 19 sales last year! However, the average sales price decreased 9% to $2.24M from $2.4M.

• There are currently 19 single-family properties on the market with an average asking price of $3.12M ($1,370 per square foot).

TRURO & WELLFLEET

Truro single family homes and condominiums both performed well. However, single-family sales and prices in Wellfleet were down. Historically, Wellfleet has been one of the best-balanced markets of the three towns of the Outer Caper. Reduced inventory in Wellfleet, however, has become an issue with only seven on the market as of Jan 6! And of course, fewer properties available for sale, means fewer overall sales.

• The average single-family sales price in Truro was flat at $1.6M. Sales were up 3% to 36. Currently, there are only 10 single-family properties on the market with an average asking price of $1.7M ($1,729 per square foot).

• Truro condominium sales were down 17% to 20 from 24 last year. The average sale price increased 8% to $535K from $495K. There are only 8 condominiums on the market with an average asking price of $410K ($1,023 per square foot).

• Wellfleet saw an uncharacteristic down year. The average sales price of single-family homes was down 13% to $1.05M from $1.2M. Sales were down 20% to 53 from 66. There are currently only 7 single-family properties on the market in Wellfleet with an average asking price of $1.8M ($730 per square foot).

As we welcome the New Year, we will continue to see strong market activity on the Outer Cape. Demand just doesn’t stop!

I believe we will continue to see higher average sales prices along with this continuing demand. And this upward pressure on prices will continue to effect sales throughout 2025.

Outside forces can affect our wonderful Provincetown and Outer Cape real estate market, but we can still take comfort in knowing we will continue to outperform most other markets. And patient buyers, who are actively searching for a new home, here on the Outer Cape, will hopefully find just what they are looking for in the new year.
 

I am committed to providing you with the safest means to view, purchase and sell real estate on the Outer Cape. My business philosophy has always been that the best-informed buyers and sellers are the most satisfied with their results.
 

Watch for interesting stories in your email and on social media at jon.goode.com. I look forward to seeing you soon. And leave it to me to keep you informed.