Month: July 2024

19 Tremont Street #2 is a two-bedroom, two and one half bath 1,081 square foot condo. This condo has a great location, beautiful design, and highest quality! It sold for $2.025M and was listed at $1.995M. This condo is one of the finest examples of high end condo sales this season.

MLS Data – Located in the most sought-after historic enclave of Provincetown’s West End, this fully renovated, two bedroom, two-and-a-half bath townhome perfectly fuses the old with the new. Every inch of the two-level home was thoughtfully redesigned, introducing luxurious modernity while maximizing space and functionality. The first level, with its wide-plank antique wood floors and exposed wooden beams, features a living room with a gas fireplace, powder room, dining area with built-in banquette including storage drawers, and chef’s kitchen equipped with a 5-burner Bertazzoni gas range and hood, Miele refrigerator, dishwasher and wine refrigerator, Rohl farmer sink, butcher block countertops, and Cle’ tile backsplash. Step outside to an exclusive, resort-style bluestone patio with stacked rock walls and integrated lighting, and an oversized storage shed. The second floor, with its rift white oak flooring, features the primary suite with a vaulted, loft-like ceiling and exposed antique beams, a free-standing Jotul gas fireplace, an open closet wall by Elfa Décor, and Miele stacked washer and dryer. The en suite bath is appointed with an oversized shower, dual sink vanities, Waterworks fixtures and hardware, Toto Washlet toilet, and Cle’ tile. The guest suite has separate areas for sleeping and work/play–separated by pocket doors–and a well-appointed en suite bath. The sleeping area has a custom queen-size Murphy bed with built-in desk along with two closets. The adjoining room is currently used as a workout/office with wall-mounted desk and shelves. Additional amenities include two-zoned central HVAC, off-street dedicated parking, Lutron Caseta wifi-controllable lighting, and much more. Easily venture into town or out to the beach. New exterior paint (’23) and new roof (’24).

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

PROVINCETOWN, TRURO AND WELLFLEET 2Q2024 FIGURES

OUTER CAPE REAL ESTATE MARKET CONTINUES TO BUCK NATIONAL TRENDS

Happily, summer has officially arrived in full force. And it’s always wonderful to see the town fill up with day trippers, weekly visitors, and returning Provincetown regulars again. With the Fourth of July holiday week transitioning into the very busy Bear Week, our town is enjoying the most delightful weeks of the early summer season.

National headlines report that in many regions the real estate market is moderating, with more price reductions, less multiple offers, lower sales and increasing inventory. Here on the Outer Cape, inventory gains have shown up in every category in fact doubled in some since last year at this time. Sales are trending up after softening last year. Demand is strong although buyers seem to lack the same urgency we’ve seen for the last two years. More choices tend to relax buyers as they take more time to buy. Sales prices are up too. As always at the end of the second quarter there is not a lot of data to analyze, but I will do my best to provide some insights and to highlight some of the empirical data in the charts below.

PROVINCETOWN

The average sale price of condominiums in Provincetown is up 10% to $932K from $849K. Condominium sales were basically even with last year, slightly down 2% to 51. There are 36 condominiums on the market now with an average list price of $1.5M. At this time last year, there were 27 condos on the market.

Single-family home sales were up 38% to 11 from 8 sold last year at this time. And average sales price was up 27% to 2.8M from 2.2M last year. There are twice as many single-family homes – 28 vs. 14 properties – on the market with an average listing price of $3.6M. Remember, second quarter samples are small and dramatic numbers and percentages usually moderate somewhat as we get deeper into the year.

TRURO AND WELLFLEET

In Truro, the average sales price of single-family homes sold was up 14% to $1.6M from $1.37M last year. The number of sales was basically flat at 14 from 13 last year. Currently, in Truro, there are 15 single-family properties on the market with an average asking price of $1.9M. Condominium sales in Truro almost doubled to 13 from 7 last year. The average sales price of condos in Truro was up 15% to $494K from $428K.

However, in Wellfleet, the average sale price of single-family homes was down 10% to $988K from $1.1M a year ago. Sales were up 20% to 24 from 20 last year. Right now, there are 29 single-family homes available for sale in Wellfleet with an average price of $1.9M. Last year there were only 14 available.

INCREASED CHOICES ENABLE MORE BUYERS TO FIND THEIR DREAM HOME,BUT PATIENCE AND FLEXIBILITY ARE STILL KEY

Well-positioned and well-prepared buyers are finding properties to purchase, and sellers are taking advantage of the still strong seller’s market. In Wellfleet, Truro and Provincetown, 112 buyers were able to find their dream homes so far this year. But, whether you are buying or selling, patience and flexibility are still key.

Hopefully, I can help 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 soon.