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Provincetown 1st Quarter Results Preview

Early First Quarter Results – Will they determine the direction of the spring market?

It has been an interesting Q1 , with weather issues, political issues, and the continuing stubborn lack of inventory. There are only 40 condos on the market vs 67 last year at this time.

Despite these issues condominium sales are set to surpass last years first quarter sales by close to 30% – 30 sales vs 20 sales last year. This is a good sign of continuing strength in the market.  The average sale price is $507K and 60% of those sales were under $500K. This is a very popular price point and there were several really great properties that sold. Below are four examples.


SOLD $375K, studio, 329 sf
23 Winthrop St #1 – SOLD $375K, studio, 329 sf
SOLD $390K, 1/1, 330 sf
26 Pleasant St #3 – SOLD $390K, 1/1, 330 sf










163 Bradford #2 SOLD $397K, 1/1, 425 sf
163 Bradford #2 – SOLD $397K, 1/1, 425 sf
12 Commercial St #7, SOLD $480K, 1/1, 734 sf
12 Commercial St #7, SOLD $480K, 1/1, 734 sf











Single family home sales have been sluggish with only four selling so far this year. Last year a total of 12 had sold  in the first quarter. There are only 19 homes on the market vs 26 last year.

The economy remains strong even with the volatility in the stock market. Our outer Cape markets are feeling the same inventory pinch as markets nationwide – with absorption rates and prices increasing in both the condo and single family markets. Slightly higher interest rates should have little effect as rates have remained historically low.

Market performance will depend on new inventory entering the market coupled with buyer demand remaining strong. The complete Goode and Farmer Report will be out in early April. Look for it – and I will keep you updated throughout the spring market with new listings, current sales, and many other posts of interest.

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Provincetown – Truro Sales of the week- 46 Shank Painter $835K and 42 Great Hollow $ 1.2M


46 Shank Painter Road in Provincetown is a one plus bedroom three bath  home with 2,208 square feet with rear frontage on Shank Painter Pond.  It was listed for $875K and sold for $835K.


Sold $835K, 1+/3, 2,208 sf
Sold $835K, 1+/3, 2,208 sf single family













MLS Remarks: Pond front Cape with 3 floors of luxurious living located on Shank Painter Pond wildlife Sanctuary, only 2 blocks to Commercial Street. Dramatic, open-plan LR/DR framed by a wall of glass overlooking conservation land. High ceilings, glass doors leading out to large deck, hardwood with stone walls surrounding the fireplace. Sleek gourmet kitchen w/double wall ovens, 6 burner gas stove, wine cooler, subzero fridge. Full bath and a den that opens to a sheltered dining/sunning deck. The master bedroom suite is located on the lower level with double walk in closets, master bath and sauna. The second open plan bedroom suite, full bath, and a deck overlooks the pond on the upper level. Laundry room, outside shower, hot tub, central vac, storage, multiple car parking.


42 Great Hollow Road in Truro is a six bedroom two bath home with 2,073 square feet. It recently sold for $1.2M with a list price of $1.395M.


Sold $1.2M, 6/2, 2,073 sf, single family
Sold $1.2M, 6/2, 2,073 sf, single family










MLS Remarks: Come Live The Dream! Waterfront! 2.28 acres on Cape Cod Bay with private beach. Cute as a button, the two existing three-bedroom cottages are wonderful and have a strong rental history. Views to Provincetown, Plymouth and Dennis. Every sunset, every day! Drop a mooring in the Bay. 17 minutes by boat to Provincetown. The seasonal cottages can be removed and replaced with a single family year round home of your dreams. Bring your architect or builder today. Clearly one of the few remaining waterfront sites yet to be developed into luxury housing.

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Provincetown – Listing Of The Week- 501 Commercial St #4 – $985K

501 Commercial Street #4A is a floor through unit on the west side of the building with incredible views of the harbor and downtown.  It has two bedrooms and two baths in 1,272 square feet and is being marketed or $985K.











MLS Remarks: Stunning water views of Cape Cod Bay and the harbor from this corner upper floor-through condo located in the Historic Ice House. The elevator takes you to a spacious two bedroom, two bath condominium with a large living and dining room connecting to an open kitchen. The well insulated home features cork floors, ~8 ft. ceilings, central air and heating and lots of storage. Both of the large bedrooms offer roof top views of the East End Gallery district. One of the bedrooms has an en-suite bathroom. There are windows along the west side of the unit running from the kitchen to the double set of sliders leading to the deck overlooking the water. The condo includes in-unit w/d, additional hall storage and one assigned parking space.


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