Author: Jon Goode

What an incredible house – 117 Commercial Street is a truly iconic West End home at the jag in Commercial Street near the Coast Guard Station. It has 1,360 square feet, two bedrooms and three bathrooms. It was marketed for $2.750M and sold recently for $2.725M..

MLS REMARKS: Iconic west single-family home located in Provincetown’ sought after West End. In its previous life this home was Provincetown’s ”Engine Co. 1” fire station, and was subsequently converted to a single-family home, and lovingly maintained ever since. Known to most as ” The Fire House”, this home welcomes you to its well-known porch with rockers, classic cupola and exterior charm. The home provides 3 full levels of living with peeks of the Harbor from both top levels. The second level provides a large open living space with full bath, a chef’s sized kitchen, breakfast bar, dining area for at least 8 and a large living room. One level up is the primary suite with separate bedroom and office or workout area, along with a full tiled bath. The first level features a well sized den with full bath and access to a lovely, fenced patio area. There are wood floors and bead-board throughout, stunning architecturally features, beautifully framed views of the neighborhood and only steps to the beach.

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

Provincetown – January Sales

11 condos sold with an average sale price of $1.082M and an average sale to list price ratio of 104%. (two below)

4 single family houses sold with an average sale price of $1.825M and an average sale to list price ratio was 99%. (two below)

Last year 9 condos sold with an average sale price of $619K, and an average 112 days on market. 7 single family properties sold with an average sale price of $1.642M with an average 61 DOM’s.

New Listings. 9 condos were listed with an average price of $884K. 2 single family properties were listed with an average price of $1.772M.

DOM’s much less than last year. Condos sold had an average of 10 DOM’s vs 112 DOM’s last year. Single family’s sold in an averag of 49 DOM’s vs 61 DOM’s.

We still cant predict the spring market, but these figures look an awful lot like last year.

For buyers the chances are that properties you may like will come on the market this spring. They may be priced higher than you expected, and there may be a competitive offer situation, and they will sell quickly.

Be prepared – be ready to view and make your buying decisions quickly.

For sellers, it is the time to sell, if you have somewhere to go.

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

The Days on Market phenomenon.

How Fast did Homes Sell in Provincetown in 2021?

The average days on market for sold condos in 2021 was 93 which is down 34% from 140 last year. DOM’s for single family properties was 50 days, down from 158 days last year.

In late spring and early summer 2021 the market for desirable properties started boiling. Demand was unprecedented through the fall selling season. In the last 6 months of the year exactly half of the condos sold did so within 0-10 days – basically representing a week on the market. The averge DOM’s for condos sold in the last six months of 2021 was 52.

Recently the practice has been to put a property on the market early in the week. Have multiple showings for 2-5 days, sometimes as many as three dozen, and calling for offers on a Monday with a seller decsion on Tuesday after multiple offers are recieved.

Two examples below.

Single family propertes were experiencing the same level of demand. 15 of 28 sold within 0-10 days in the second half.

Two examples below.

Is this the new normal? The average DOM n 2020 was 140 for condos and 158 for single family homes.

It’s difficult to predict what will happen this spring season. It all depends on the supply level. I’ll keep you posted.

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

4 Meadow Road #3 is a charming two bedroom and two bathroom townhouse style condo with 1,275 square feet of living space. It is in the Meadow Road condominium complex in the West End, just minutes from town and the West End beaches. It is being marketed for $895K.

REMARKS: 4 Meadow Road #3 is a lovely end-unit, two-bedroom townhouse with three floors of living and wonderful outside spaces located in The Meadows condominiums. The first floor has a wide-open floor plan with living room kitchen and dining areas and three light exposures. The designer kitchen has custom granite counter tops with a tiled backsplash, ample cabinetry and stainless steel appliances. The charming open-box ceilings are nearly 10 ft high. The second level has an ensuite main bedroom, a guest bedroom and a shared bath. The top floor is being used as a home office and a gym, but is perfect for a guest room as well. The third floor has double doors that open to a large deck with wonderful views of the West End neighborhood. There is a junior farmer’s porch on the front of the condominium and an entertainment-size, decked patio in the rear. The 2/3rds basement has tons of storage and a laundry center. Two car parking. Pets are welcome. Rentals are allowed – one rental of any duration every 90 days.

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Please contact me for additonal details or if you would like to view the property. See all available properties for sale at Beachfront-Realty.com.

PROVINCETOWN, TRURO AND WELLFLEET
4Q2021 FIGURES

Provincetown and the entire Outer Cape had a remarkable year in real estate. Remarkable in many ways – both good and bad. Once again, it was an unprecedented year as we dealt with the continued market effects of the pandemic. With demand continuing to outstrip inventory, overall market results surprised even those of us who have experienced many ups and downs in the real estate market.

We are in a classic low supply and high demand dynamic with a very limited amount of available inventory. Added to this is the profound lack of buildable land available to construct additional dwelling units. In other words, a perfect storm of challenges exists as we are about to enter the 2022 spring selling season on the Outer Cape.

PROVINCETOWN

In Provincetown, unit sales were down in every category and sale prices were up! Condominium sales were down 22% from 193 to 151. Sale prices were up 10% from $667K to $734K. And astonishingly, 30% of those sales sold for over the asking price.

This does mean though that 100 units – or 70% of sales – did sell at or below asking. This provides some good news and some terrific opportunities for buyers as we see many mid-market properties are selling at or below asking prices.

There are only 21 condominiums on the market listed in MLS as of January 3rd with an average asking price of $1.03M. In the old normal, there were 40-70 condos on the market at any given time. This represents only 30 days of inventory available for sale.

Single-family home sales were flat with 53 sales compared to 52 sales last year, and average sales price increased 30% from $1.44M to $1.87M. However, 34% of these single-family homes sold above asking.

There are only nine single-family properties on the market now with an average asking price of $3.78M. Three of these are priced above $5M skewing the averages higher. There are no properties on the market priced between $1M and $2M which is the most popular price point for single-family homes. In balanced markets, there are usually 25-40 single-family homes offered on the market at any given time.

TRURO AND WELLFLEET

In Truro and Wellfleet, the lack of inventory is even more severe than in Provincetown.

The average single-family sales price in Truro was up 34% from $928K to $1.244M. Sales were down 21% to 64 from 81. There are only three single-family properties on the market with an average asking price of $3.068M. Again, this is skewed up by one of the three being priced at $4.6M. These three units of inventory represent a 20-day supply!

Truro condominium sales were higher – 50 sold this year vs. 39 last year. The average sale price increased 5% to $385K from $366K. There are only two condos on the market with an average asking price of $853K.

In Wellfleet, the average sales price of single-family homes was up 18% to $936K from $795K. Sales were down 14% to 74 this year from 86 last year. Currently, there are only three single-family properties on the market in Wellfleet with an average asking price is $1.26M.

AS WE END 2021 AND BEGIN A NEW YEAR

As we end 2021 on the Outer Cape, we see that average sales prices were up and the number of units sold was down – in all categories and in all three towns, except for condo sales in Truro. But, buyer demand for Cape property, and specifically Outer Cape property, remains extremely high. This historic lack of inventory was caused by the surge in sales that started in May and depleted available inventory which has not been replenished. The upward pressure on prices caused by this increased demand and lack of inventory cannot help but effect sales in 2022.

As we begin the New Year, we hope you are staying safe and remaining healthy wherever you are during this off-season. We are committed to providing you with the safest means available to view, purchase and sell real estate on the Outer Cape. We have learned to do business safely and comfortably during Covid, while still providing the expected high level of service and attention you require. Our 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. We look forward to seeing you soon.

11 Oppen Lane is one of the most intriguing properties in town. The mid centuty inspired home has two plus bedrooms and five baths with 3,142 square feet. There is a lovely stand alone artists studio and a gazebo on the property. The property was listed at $4.495M and sold for $4.5M.

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MLS REMARKS: You will be utterly captivated by the broad sweeping views from this spectacular property perched atop a hill over Point Street in the heart of the desirable West End. Located at the end of a private road, and sitting on over one acre of land, this mid century modern inspired home boasts unparalleled views and privacy. Tucked into the lush landscape, the property is accessible by foot from a private footpath that runs up the side of the hill from Point Street. The home’s floor plan is open and airy, with beautiful wood floors throughout and a wall of windows facing the harbor, perfect for entertaining or quiet times at home. Take your morning coffee in the breezy screened porch while watching the sun rise over the bay. The chef’s kitchen is bright, offers gas cooking and features SubZero and Fisher & Paykel appliances. The living room features a large gaslog fireplace, flanked by floor to ceiling windows, and has a door out to a lovely waterview deck overlooking the yard with a pond at its center. The primary bedroom is in its own wing, with a walk-in closet and a large en-suite bathroom with sliders out to a private deck with an outdoor shower.

The guest suite on the main level also features an en-suite bath.
On the bright lower level, you’ll find a large den with a wet bar, an office area, a full bath, lots of storage and interior access to a one car garage. Outside, ascend a path to an enchanting gazebo built atop the highest point on the lot from which you will enjoy breathtaking views out toward Wood End and Long Point Lights. Also on the property is an artists studio in a separate building with a kitchenette and full bath. There’s plenty of parking on the property in addition to a carport to shelter your vehicle from the elements. Other luxuries include a generator and a an irrigation system.

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

99 Commercial St #’s 1-3 is a quirky and wonderful collection of three Cabins on Union Wharf in the West End. Certainly one of the most intriguing property offerrings of the year. Imagine living on the water in these charming and comfortable wharf cabins – iconic Provincetown waterfront at its very best! The three cabins are being offered together at $1.750M.

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MLS REMARKS: (Price is for all 3 Cabins.) Summertime on the water, in Provincetown’s classic West End – Union Wharf! Enjoy the romance, the relaxation, the history, and the most amazing water views. This is a unique and extraordinary offering – all 3 waterfront cabins on Union Wharf are being sold together with exclusive use of their completely rebuilt pier. This is quintessential Provincetown – no doubt you’ve seen these picturesque properties or perhaps you’ve stayed in one of them. Each cabin has its own, slightly different personality and all include kitchen, sitting area and sleeping area in a compact space. Cabin Three is at the end of pier, has the look and feel of your own boat cabin and boasts panoramic views of the town and harbor on three sides. There is a kitchenette, sitting area and a loft sleeping area, with equally amazing views. Outside this cabin is a large, waterfront deck ideal for entertainment and enjoying summer on the water!Cabin Two, is in the center of the three cabins. It also has a kitchen, dining area, vaulted ceilings, sleeping area, stunning water views, and another wonderful waterfront sitting area awaits you just through your door. Cabin One is first in line of the cabins. It has a full kitchen, vaulted ceiling, wood floors, storage, and great water views on two sides. There’s an amazing waterfront sitting area, and ramp to the water, just outside its door. The cabins are open seasonally, share a shower room, and each has a bathroom facility within the cabin. This is a rare opportunity to enjoy a classic waterfront compound and to be part of Provincetown’s historic waterfront. Listing courtesy of Coldwell Banker Pat Shultz Real Estate.

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

75 Commercial Street is a waterfront three unit building with a total of three bedrooms and three full baths with 1,751 square feet. It is being marketed for $2.995M.

MLS REMARKS: Rare opportunity on the water in the West End, this quintessentially Ptown 3-family property is being offered for sale for the first time in over 35 years. The property consists of 3 units on two levels, each with its own entrance. There are two units on the ground level both renovated in 2019. One of the lower units faces the harbor with sliders that open onto a spacious deck directly on the water. With a wood burning fireplace and generous kitchen, you’ll never want to leave. The other ground level unit is a nicely renovated street facing studio with a large multi-paned window providing a picture perfect view down quaint Ericsson Street. The upper level has grand views of the harbor from the living room, its own private deck, a wood burning fireplace, a bedroom on the street side of the building, and an office for working from home. You could live in one unit and rent out the other two, or transform the place into a show-stopping single family home. Strong rental income history. Listing courtesy of Gibson Sothebys Intl Realty.

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

84 Bayberry Avenue is a three bedroom three bath single family home with 2,080 square feet on half an acre of land in Provincetowns’ West End. It had an asking price of $1.650M and sold for $1.8M.

84 Bayberry Avenue is gently set back from the road surrounded by mature landscaping. This rambling ranch is a just short walk to town and has wonderful inside and outside spaces, three bedrooms and three full baths. The house lives for entertaining as well as for its lovely private spaces. The living room has lots of natural light with cathedral ceilings, a stone-faced fireplace and wood flooring. The kitchen is open to the living-room and has a large island with a second sink. It features stone counters and tiled back splash, gas cooking and a wonderful view out to the back yard. A tiled sunroom is adjacent to a large outside deck. There is an ensuite bedroom on the main level along with a guest bedroom and a den. The primary bedroom on the lower level is ensuite and has an adjacent sitting area. There is also a large family room with a bar sink, fridge and plenty of room for home theatre and entertaining – both rooms open to their own private patios with access to the backyard and the outdoor shower. There is a split-system AC, oil-fired baseboard heat, irrigation, a long shell driveway with turnaround and parking for several cars. The yard is fully fenced in for the pooches.

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On a half-acre wooded lot the property offers a lovely, comfortable Cape retreat or a substantial year-round home. It literally has everything! Offered turnkey as well.

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

49A Pleasant Street is a two bedroom plus guest room, two and 1/2 bath single family home with 1,520 square feet. Excellent location, quality, and comfort make this home ideal.

49A Pleasant Street presents a terrific opportunity to own a great single-family home in a great neighborhood just minutes to Commercial Street. This 2001 Cape has two bedrooms, a guest room and two and a half baths. The main level has a bedroom, den/guest room and one and a half baths. The kitchen has stainless steel appliances, tons of cabinets and is open to the dining area. There is a large mud room/laundry room off the kitchen. The front-facing living room has a gas fireplace. The entire second floor is the primary bedroom suite with hardwood floors, cathedral ceilings, a living room-sized sitting area, a walk-in closet and a separate home office space. The primary bath is fully tiled with a walk-in shower. A large rear deck overlooks the perfect-sized backyard with a custom outdoor shower  platform and a good-sized storage shed. The front deck offers the best people watching in the neighborhood. There is a full basement with 8’ ceilings, upgraded electric, an upgraded furnace and upgraded plumbing. The home is being sold turnkey. It has an excellent rental history with great income for just the first floor, and more for the whole house. There’s a fully irrigated lawn and natural, locally sourced, low-maintenance gardening. Parking for three cars. Plenty of bike and kayak storage outside.

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