Month: October 2022

19 Brewster St #E – $699K – 18 Bangs St #4 – $813K

These two sales are a good representation of the mid-range price category ($500K to $1M) for condos in Provincetown. Year to date 55% of all condos sales were in this price range. 14% of sales were under $500K and 31% sold above $1M.

19 Brewster St # E is a bright one bedrooom condo in the East End with 0ne bath and 405 square feet. It sold for its’ asking price of $699K.

MLS Remarks: This light-filled, open plan 1 bedroom condo features modern amenities and architectural character within walking distance of all the Provincetown offers. You will be located on a quiet street just 0.2 miles (4 minute walk) from Provincetown’s waterfront and beaches. With a vaulted ceiling and eight wraparound windows in the living room, the south facing cottage is bright and sunny year round and cooled by summer breezes. Renovated top to bottom and modernized in 2000, its hardwood floors gleam throughout and a kitchen island with deep sink provides ample countertop and cabinet space. Enjoy breakfast on the private patio beside a pocket garden with established perennials. Two large cedar trellises support climbing blooms that provide privacy. Reasonable condo fee includes heat, hot water,winter property checks and more. “

18 Bangs St #4 is a one bedroom one bath top floor condo with 572 square feet. It sold for $813K with an asking price of $799K.

MLS Remarks: Offered for the first time, this one-of-a-kind 572 sq. ft. 1br/1ba is located on a quiet side street in a newly constructed 6-unit association, one block to the heart of Provincetown’s historic Gallery District. Key features include: spacious and airy top-floor unit with soaring ceilings and extraordinary oversized windows; fully equipped kitchen with stainless appliances, granite countertops and island with seating; oversized bedroom which can accommodate a king bed and comfortable work/sitting area; sleek contemporary bathroom with frameless shower barn door; smart cabinet design throughout providing ample storage; and forced hot air and central A/C. All anchored with beautiful wide plank Sawyer Mason flooring! Other amenities include: two exclusive-use decks; propane for cooking; in-unit washer and dryer; recessed lighting; parking for 1 car; pet friendly; and vacation rentals permitted.

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

22 Conwell St #B is a two bedroom two bathroom freestanding condo wirth 1,340 square feet. It is being marketed for $1.749M.

MLS REMARKS: Tucked away, up a drive, atop a dune in a central location is this 2 BR/2BA free standing, like-new condominium. This 2020 EnergyStar and Stretch code compliant home is highly energy efficient. The ground floor boasts a spacious king-sized bedroom suite, large walk-in closet and ensuite bath. This floor also features a 400+/- sf storage space with propane-fired integrated boiler and laundry area. The main floor, flooded with natural light, contains everything essential for comfortable single level living: an open plan with lounge, dining and kitchen areas, a generously sized bedroom (king) with walk in closet and adjacent bath. The handsomely designed kitchen includes an island/breakfast bar, stainless steel LG appliances (including a ”knock-knock propane oven), refrigerator and dishwasher. The finished space of 1,340+/- sf has been meticulously maintained and is in move-in and ready-to-enjoy condition. But, wait, there’s more! The top level shows a 480+/-sf unfinished area awaiting your creative space planning. A large home office, perhaps, a den, media or game room. Outside, there is 3,000+/- sf of exclusive use space with natural landscaping ready for the gardens of your dreams. There are 2 parking spaces and an exclusive separate space in the common storage shed. Listing courtesy of Seascape Realty.

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

Provincetown, Truro and Wellfleet 3Q2022 figures.

How is the market doing? It’s complicated. Our market is unique in so many ways. It’s a small market – geographically and numerically – and while it does follow some national trends, the Outer Cape tends to buck some of those market trends as well.

Nationally, the talk is about the beginning of a softening market with increased inventory, less sales, some price reductions and longer days on the market. Here on the Outer Cape, we may be seeing signs of these trends as well, but in a very limited way. Not surprisingly, sales have decreased in most categories. Although there is some hint of increasing inventory, that possibility may disappear as we head into the post-Thanksgiving seasonal slowdown. There are price reductions on some properties that have remained on the market longer than average, but prices have continued their substantial upward trend.

PROVINCETOWN

In Provincetown, the average sale price of condominiums year-to-date, increased 22% to $927K from $762K. The median sales price increased 13% to $844K. And, the number of sales increased 23% to 92 from 75. This is a reversal of the downward trend we saw last quarter. There are currently only 21 condos on the market with an average listing price of $1M.

Single-family home sales were down 15% to 22 units from 26 last year. Again, a result of very low inventory. The average sales price was up 24% to $2.12M from $1.71M. The median sales price was up 68% to $2.19M from $1.3M. There are only 17 single-family houses on the market with an average asking price of $3.7M.

TRURO AND WELLFLEET

The average sale price of single-family homes in Truro saw another big increase. Sales prices jumped 43% to $1.79M from $1.25M. The median price increased 32% to $1.39M from $1.05M. There were 19 sales, down 60% from 48 sales last year. There are only 13 single-family homes available on the market with an average asking price of $2.39M – well up from $1.72M last year.

The average sale price of Truro condos sold year-to-date increased 49% to $578K from $387K. The median price increased 21% to $453K from $375K. Sales were down 51% to 18 from 37 last year.

In Wellfleet, the average sale price of single-family homes was up 13% to $1.01M from $891K. The median price was up 14% to $916K from $803K. Sales were down 19% to 44 from 54 last year. There are currently 16 single-family properties on the market with an average asking price of $1.48M.

AS FALL SETTLES IN ON THE OUTER CAPE SO DOES THE DESIRE TO BE PART OF OUR COMMUNITY

The bottom line is that average sale prices were up again in all categories in all three towns. Sales were down again everywhere – except for condominiums in Provincetown. While buyer demand for Outer Cape property remains extremely high and new properties will continue to come on the market, the upward pressure on prices caused by this increased demand and lack of inventory will most likely effect the fourth quarter outlook for 2022.

As always, my goal is to keep you engaged in this unprecedented Outer Cape Real Estate market by providing you with news and market developments as they happen.

I hope you are staying safe and healthy wherever you are and that the coming holidays treat you well. We realize how fortunate we are to be here at the tip of the Cape and look forward to seeing you very soon. Watch for interesting stories in your email and on social media at jon.goode.com. Stay well.