Author: Jon Goode

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.

The Cottage at 12 Atwood Avenue is a charming one bedroom one bath two level stand alone cottage. It is located on possibly the most desirable little private lane in Provincetowns’ West End. It is being marketed for $845K.

The quintessential West End Cottage. This stand-alone wood frame cottage is set back from a private lane behind a flower covered white picket fence. This enchanting one bedroom two story cottage is the ultimate Provincetown retreat. Located on a quiet private lane in the lovely West End its’ location is truly unique. It’s original detailing is authentic Provincetown. The living room is at the front of the Cottage and has a wood burning fireplace. There is a dining room/den next to the galley kitchen in the rear of the first floor. The entire second floor is a large bedroom and bath with oversize windows with wonderful sight lines to lovely Atwood Avenue.  The outside space includes mature front and side gardens and a good size private patio/deck area. Refresh this West End gem as is or reimagine it completely. 

The two-unit condo complex is organized like two separate single-family properties. The Cottage has a large exclusive use garden area, and one parking space.

Call to view this special property. See all properties for sale at Beachfront-Realty.com.

119 Commercial Street is a four bedroom three bath home with 1,956 square feet. It is in the West End at the curve of Commercial Street at the Coast Gaurd Station. It was listed for $2.599M and sold for $2.599M with six days on the market.

MLS Remarks: Offered publicly for the first time in more than 20 years, this iconic two-family Provincetown classic is the perfect West End location minutes away from the exciting town center. Experience the home as a spacious single-family with abundant breathtaking natural light or take advantage of the property’s two living quarters by using them separately. Each floor houses 2 bedrooms, a kitchen, and a living/dining area. Whether you enjoy people-watching from any of the multiple vantage points or you prefer the privacy of your own home, 119 Commercial Street has so much to offer – 4 bedrooms, a den, 4 parking spaces, 3 outside areas, and water views. The two newly updated kitchens provide a very functional flow to the numerous indoor & outdoor entertainment areas. Most of this well-taken-care-of gem boasts original wide plank hardwood floors throughout.

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

28 Pilgrim Heights Road is a five bedroom, three bath home with 3,384 square feet. It has multiple levels, soaring ceilings and great outside spaces. It is an extraordinary home. It was listed for $2.1M and sold for $2.3M after 8 days on the marlet.

MLS Remarks: A contemporary-lover’s dream! This impeccably maintained tiered designed home is located in the desirable Pilgrim Heights neighborhood.The modern design offers a multi-functional floor plan with the main living, chef style kitchen, and dining on the top level maximizing the gathering space. There is a wood burning fireplace that anchors the room for those fall nights.Banks of sliders lead out to a sunny deck with beautiful ocean views. The large master bedroom offers a generous walk in closet and master bath with a slider leading to a private balcony. There are three additional bedrooms and two full baths as well as a laundry room. A large office is on the first floor and as well as access to the garage. Additional features include a cedar sauna and large outside shower. This custom home is truly an architectural gem!

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

We are always asked how the market is doing.  It’s difficult to explain without delving into details which vary so much market to market. Our market is unique in so many ways.  It’s a small market, geographically and numerically, and while it does follow some national trends, it bucks some of those trends as well. Below is a short preview of what we are seeing in our fall market. I’ll provide a more in-depth analysis in the Jon Goode Market Report at the end of the month.

Inventory levels will determine the health of the real estate market going forward. With little increase in inventory year over year the expectation is that this fall season will track closely with last years.

It is already the first week of September, and if there was to be an influx of inventory we would have seen it by now. Last year there were 18 condos on the market in Provincetown at this time – this year there are 15. There were 9 single family properties on the market last year, now there are 8. In Truro there were 15 single family properties on the market last year. Today there are also 15. In Wellfleet there were 15 on the market. Now there are 11.

For buyers there is very little choice. This means it remains firmly a sellers market.

Despite these conditions, demand is very strong, and in demand properties are selling within a week and frequently over asking. See three examples below.

An interesting assortment of unusual and higher priced properties have been available and while taking longer to sell are still very much in demand. See three examples below.

There are 45 pending sales on the books in Provincetown. 16 in Truro and 13 in Wellfleet.

Low inventory – strong demand – elevated prices, but with some moderation especially in less desirable property categories – somre economic volitility but a generally strong economy. Is this a new normal? What will we transition into and when? These questons should be answered in the next four months.

Even with these unprecedented market conditions, buyers have closed on 169 properties in Provincetown, Truro and Wellfleet and another 74 properties are pending and under agreement. Many buyers are still finding their dream homes on the Outer Cape. Being well informed and prepared is essential.

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

We have been anxiously awaiting the launch of this new construction project which included these two Barndominiums at the Bayberry Hollow Farm on West Vine Street in the West End. Here are the first two of four and they are worth the wait. 72 West Vine Street #4 is a one bedrooom and one bath condo with 683 square feet being marketed for $975K. 72 West Vine Street #3 is a one bedroom and one bath condo with 598 square feet and is being marketed for $895K.*

MLS Remarks: With extraordinary pastoral views overlooking acres of open conservation land, this hidden oasis within Provincetown will delight you. Set within a farm-yard inspired grouping, you will view an idyllic horse and agriculture farm, Bayberry Hollow Farm. These new homes are reminiscent of traditional New England farm houses, yet built with contemporary, superior products including steep aluminum roofs, cement board-and-batten siding and inset windows allowing everchanging shadow lines. Currently, there are two 1-bedroom units available in a newly constructed ”Barndominium” – it looks like a barn, but it’s really a condominium! The interior finishes include French oak floors, custom cabinets, quartz island, Thermador refrigerator and dual-fuel stove, central air, on-demand hot water, hand-made Amish vanity, Kohler/Robern finishes and inviting wood decks. In early Fall, the final two 2-bedroom homes will be available completing this four-unit association. Listings courtesy of Coldwell Banker Pat Shultz Real Estate.

*At “press” time both condos were just marked as under agreement in MLS after 11 days on ther market.

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

63 Commercial Street is one of the most impressive waterfront homes in Provincetown. With a total of seven bedrooms, six and one half baths and 4,049 square feet of superbly renovated space, this property is truly one of a kind. It is being marketed for $7.9M.

MLS Remarks: With its signature corner bay turret overlooking the harbor, the Viewpoint is among the more prominent West End waterfront homes in Provincetown. Total living area of 4,000 sq. ft. 4 BR/3.5 bath main house extends from the waterfront to the attached 3 BR/3 bath guest house on the street side with a rooftop deck. The home was completely reconstructed and redesigned during the 33 years of the current ownership. All three floors have decks which provide stunning views,, particularly from the third floor master bedroom’s five full-window turret with views of the historic Captain Jack’s Wharf and extending from Woods End to Long Point, Truro and beyond. The first floor living area features two fireplaces, cherry floors, wainscoting, paneled walls, plaster walls and finials, custom stairway, kitchen with custom cabinetry, farmer’s sink, subzero refrigerator and double oven Wolf stove. Limestone counters. Multiple possibilities exist for this compound including owner’s residence with guest or caretaker’s quarters or excellent rental generation. Chapter 91 license. Town sewer. Whole house generator. All utilities are separate for each unit. Call us to view this wonderful Provincetown property.

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

4 Browne Street is a sweet eye catching ranch house in a great west end neighborhood. It has three bedooms and one bath and 1,452 square feet. It was marketed for $1.195M and sold for $1.225 in eight days on the market.

MLS Remarks: The possibilities abound with this West End single family fixer upper which enjoys a location that is convenient to all that Provincetown has to offer. Sitting on a large lot, this 1950’s style ranch home can remain a single family home or the zone allows for a multiple unit building. The main level has 2 bedrooms, one bath, a living room with oak flooring and a wood stove, a kitchen, and a large bright and airy sunroom with sliders out to a lovely decked yard that abuts Provincetown Conservation land. The home has a full finished basement with a den, a bedroom with a proper egress window, and a second full bath under construction. The one-car garage is connected to the house through a screened breezeway.

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