Provincetown year to date sales figures as of May 31 look great!
Condo sales are up 20% over last year with 53 condos sold year to date versus 44 last year. The average sale price was up 13% to $388K versus $343K last year. The energy on “the street” is palpable. There are excited buyers looking to take advantage of historically low interest rates and affordability levels not seen in a long time.
In past posts condos under $300K were highlighted and in another the “belly” of the condo market in the $500″s was examined. Both posts illustrate the broad assortment of properties for sale which is helping to drive sales.
The number of single family properties sold was up an amazing 83% to 22 properties year to date versus 12 last year. The average sales price was $732K against $871K last year which is a decrease of 16%.
In Boston we can read more into “averages” as hundreds of properties are sold each month, and averages tend to be more important and meaningful. In Provincetown with a smaller sampling of properties, averages can be skewed wildly by one excessively high or low sale, and while still important and very interesting to look at, whats’s more important is the general trajectory of sales.
Provincetown is on track to have a very solid year in real estate.
We will publish our quarterly Goode and Farmer Report for Provincetown Q2 in early July. Watch for it.