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$500K to $800K Condos In Provincetown – The Most Popular Price Range.

$500,000 to $800,000 – the most popular “price point” in Provincetown.

40 of the 127 condos sold so far this year had sales prices  between $500K and $800K –  1/3 of all condo sales. This is 42% more than last years 28 sales.

Within this price range the average sale price was $600K for a 1,030 square foot two bedroom two bathroom condo with an average price per square foot of $583. In 2013 the average sales price was $588K with an average of 1,124 square feet for an average price per square foot average of $523.

Below are six favorites.

45 Commercial St. #8, 2/2, 555 sf sold $520K
45 Commercial St. #8, 2b/2b, 555 sf sold $520K
8 Wareham St # B, 2/2, 1,004 sf, sold $575K
8 Wareham St # B, 2b/2b, 1,004 sf, sold $575K
6 Cook St #3, 2/2, 915 sf, sold $615K
6 Cook St #3, 2b/2b 915 sf, sold $615K

 

 

 

 

 

 

11 Georges Path # B, 2/2, 1,150 sf, $615K
11 Georges Pth #B, 2b/2b, 1,150 sf, sold $615K
67 Commercial St #3, 1/1, 475 sf. sold $695K.
67 Commercial St #3, 1b/1b, 475 sf. sold $695K.
4 Bradford St #2, 2/2, 1,100 sf, sold $780K.
4 Bradford St #2, 2b/2b, 1,100 sf, sold $780K.

 

 

 

 

 

 

 

 

 

There are 28 condos available for sale in this market segment with an average asking price of $635K or $587 per square foot. Below are six of favorites.

 

83 Bradford St #3, 2/2, 926 sf, asking $539K
83 Bradford St #3, 2b/2b, 926 sf, $539K
143 R Bradford St EXT. 1+/2, 975 sf, asking $559K.
143R Bradford EXT. 1b/2b, 975 sf, $559K.
606 Commercial St #3, 3/1, 1,307 sf, asking $599K.
606 Commercial St #3, 3b/1b, 1,307 sf, $599K.

 

 

 

 

 

 

 

67 Commercial St #1, 2/3, 821 sf, asking $729K.
67 Commercial St #1, 2b/3b, 821 sf, $729K.
55 W Vine St #B, 2/3, 1,174 sf, asking $759K.
55 W Vine St #B, 2b/3b, 1,174 sf, $759K
19 Tremont St #32/3, 1,146 sf, asking $799K.
19 Tremont St #3, 2b/3b, 1,146 sf, $799K.

 

 

 

 

 

 

 

 

There are currently 10 pending sales in this range with an average asking price of $663K or $586 per square foot.  9 of the 10 are in the West End. Three favorites are shown below.

 

23 Winthrop St #2B, 2/2, 807 sf, asking $599K.
23 Winthrop St #2B, 2/2, 807 sf,  $599K.
62 Franklin St #4, 3/1, 960 sf, asking $694K
62 Franklin St #4, 3/1, 960 sf,  $694K
5 School St # 2, 2b/3b, 960 sf, asking $799K
5 School St # 2, 2b/3b, 960 sf,  $799K

 

 

 

 

 

 

 

This week several more condos have gone under agreement in this price range. Perhaps a sign of a strong winter market to come. BRRRR!

 

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October’s High Profile Closings In Provincetown

October arrived quietly but went out with a bang with five closings of properties selling for over $1M.  As mentioned in the Goode and Farmer Q3 2014 Report, the $1M+ market has been slightly behind last years figures but these closings certainly give it a shot in the arm. This segment of the market will still end up being a bit slower than last year, but these sales definetly illustrate the strong demand and the broad diversity of the $1M+ market.

27 Watsons Court sold for $1.175M.  It is a 3 bedroom, 3 bath totally renovated 3 bedroom, 3 bath house with 1,600 square feet and was originally listed for $1.279M.  MLS COPY: Completely renovated, like new, 3 Bedroom, 3 bath single family home in a quiet side street in the center of town. Master bedroom with en suite bath. Second floor hook-up for washer and dryer. State of the art kitchen with granite countertops and Bosch appliances. Wide plank wood floors, tumbled marble baths, cathedral ceilings, coffered ceilings. Cedar shingle roof, propane gas heat, central air-conditioning. New foundation, professionally landscaped private yard, new fence, paver patio, newly installed irrigation system with well. Crawl space. Gas fireplace.

Watsons Court is 1/2 block above Bradford Street near the intersection of Court Street and Bradford Street. Sorry there is no picture available.

 

101 Commercial Street sold for $1.257M, is listed as a 2 bedroom, 2 bath two family property with 760 square feet and two  legal kitchens with  decks over the water.

 

101 comMLS COPY: West End Gem! “Home At Last” is an iconic waterfront two family cottage full of charm. This home has currently two bedrooms and two legal kitchens. There is wonderful large deck on the first floor unit that sits over the water as well as a second story deck both taking in the beautiful vistas of Provincetown Harbor and Long Point! Buy a piece of Provincetown History!

If you know where Sals Place Restaurant is, this is the building next door. Truly an iconic West End landmark. Charming as can be.

 

 

 

 

 

 

 

 

 

 

59 Harry Kemp Way sold for $1.35M having been listed for $1.379M It is s 3 bedroom, 4 bath home with 3,429 square feet.

 

59 HKW

MLS COPY: No detail has been overlooked in the construction of this exquisite 3BD/3.5 BA single family dream home. Hickory floors throughout. Open floor plan living/kitchen with coffered ceiling and gas FP. Atrium doors to landscaped rear yard with hot tub. Kitchen w/custom cabinetry, 48” Thermador 8 burner cook top w/double oven, coffee maker and microwave. Granite countertops and marble backsplash. Liebherr side by side refrigerator w/wine cooler plus separate beverage station. Separate formal dining room, den and bath complete the first floor. Upstairs, there is a master suite w/gas fireplace and bathroom w/soaking tub, plus 2 additional guest bedrooms that share a bath. All bathrooms have marble & tumbled stone walls and floors. The finished basement is the perfect entertainment spot with a custom built bar and gas fireplace.

 

28 Nickerson Street sold for $1.380M having been listed for $1.495M. It is a total renovation of a previous house on the lot with 3 bedrooms and 3 baths and 1,705 square feet.

 

28 Nickerson

 

 

 

 

 

 

 

 

 

 

 

 

 

 

MLS COPY: West End 2013 New Construction designed with careful attention to detail, built by Cape Associates, Inc. This beautiful 3 bedroom, 3 bath home has a HERS 5+Star rating for energy efficiency, 3 zone heating and cooling, propane on demand hot water, generator and surge protection. Exterior features include professional landscaping and irrigation system, 2 car cobblestone driveway and paths, low maintenance Azek trim and Ipe hardwood decking, dipped cedar shingles, enclosed outdoor shower. Interior features include Anderson windows, red birch flooring and high end finishes including Wolf dual fuel range, Subzero refrigeration, Miele dishwasher, Waterworks and Kallista kitchen, wet bar, bath fixtures and a full basement. A perfect home for entertaining complete with screened-in porch and sun deck off master bedroom.

 

52 Point Street sold for $1.6M and had been marketed for $1.895M. It is a 3 bedroom, 3 bath house with 3,212 square feet.

 

52 Point

 

MLS COPY: In the heart of the West End is this extraordinary home! It welcomes you with a beautiful cobblestone drive & amazing gardens. Hill-perched, it’s filled with sunlight & offers forest & water views. The main living area has numerous architectural features which set the tone for the rest of the house. Perfect for entertainment, this open plan includes a large sitting area, a well-equipped kitchen, all of which is surrounded by large windows framing the English gardens. Next to this space is a separate dining room. Just a few steps down a hallway is a private study overlooking a unique stainless steel spa. The second floor has private decks, sitting areas, master bath & a dressing room. The lower level has two bedrooms with a bath. The rooftop deck has incredible views of the bay and Herring Cove.

 

10 R Commercial Street sold for  $1.635M and had been marketed for  $1.695M. It is a 4 bedroom, 4 bath 2,914 square foot home with a separate guest suite/garage.

 

10R Commercial

 

MLS COPY: At the end of a long gravel driveway,you’ll find this one-of-a-kind property, a sanctuary of privacy,surrounded by conservation land, offering the largest parcel on Commercial Street in the West End. With a wonderful reverse design,you’ll find a large open floor plan upstairs w/a dramatic vaulted & beamed ceiling, a living room anchored by a stone FP, a formal dining area & a newly renovated chef’s kitchen. Off this level is a breezy screened porch & a sunny deck. On the 1st floor, 2 guest BRs, a full bath, & an ample master suite has French doors out to a stone patio, & a gorgeous master bath. Your guests will be charmed by the carriage house, w/its reclaimed wood floors, rounded dormers,& inviting living space. Offering the lot size of a Truro property combined with the convenience of living right in Ptown- it’s truly the best of both worlds!

As you can see each of these properties is exceptional, and each represents beautifully the distinct characteristics of different neighborhoods and styles of residences.We are so fortunate to have  this quality and variety of property in Provincetown.

 

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The Goode and Farmer Report October 2014

Provincetown, Truro and Wellfleet Real Estate market 3Q2014 Figures 

 

PROVINCETOWN

Stable…solid…predictable…encouraging… qualities you don’t often hear when describing second home markets, but 2014 sales-to-date are just that, and in some instances downright outstanding. While in urban areas nationally we are seeing the volatility caused by low inventory and frothy prices beginning to abate. In contrast Provincetown Truro and Wellfleet real estate markets are behaving more like mature overachievers than emotional teenagers.

Year-to-date sales through the 3Q in Provincetown were strong with condos leading the market with sales increasing 14%. The average sale price of single-family homes remained relatively flat, mostly the product of lower inventory. Provincetown had a stellar summer season once the monsoon rains of spring gave way to gorgeous and dry summer weather.

The average sale price of condos sold in Provincetown increased 3% to $446K from $432K last year, and the number of sales recorded in MLS were 14% higher than last year at 103. Sales volume increased by a 18% to $46M. The median price of condos sold also increased 20% to $426K from $354K an indicator that the belly of the market has moved up from the $400K to $600K range to the $500K to $700K range.

The average price of single-family properties sold year to date was $1.03M down a modest 1%. There were 24 single-family sales, which was down 25% from 32 last year. Total sales volume was $25M down from $33M. We continue to feel that these softer single-family numbers are being caused by the historic lack of inventory, as buyer demand remains high especially in the desirable West End and East End neighborhoods.

The $1M plus single family market remains much slower with only 6 sales and $12M in sales volume compared to 13 sales last year with a volume of $21M.

Condo inventory as of October 19 is relatively low with only 90 available with an average asking price of $515K and an average price per square foot of $604. There are 25 condos available priced between $300K and $400Kand 22 with prices between $500K and $700K

There are 47 single-family properties on the market with an average price of $1.54M and an average price per square foot of $584.

The condominium market is tracking well higher than last years. The single-family market is tracking a bit lower. Fourth quarter under agreement (pending) sales of condos are quite strong and will bolster already impressive numbers.

 

3Q2014 Ptown2

 

 

 

 

 

 

 

 

 

 

 

TRURO AND WELLFLEET

The single-family home market in Truro and Wellfleet has performed better than Provincetown this year. We only track single-family home sales in these towns as their condo markets consist mostly of 3-season inventory. Single-family sales have seen incredible increases this year partly a result of the dearth of inventory in Provincetown – as well as the high average price of homes in Provincetown.

The average median sales price for single-family properties in Truro is up 14% to $625K from $550K in 2013, but the number of sales was down 22% to 29 sales this year. Even with many fewer sales, volume was only down 5% to $23M.

Wellfleet turned in the strongest performance with a 29% increase in sales to 62 units from 48 last year. The median sales price of single-family properties sold was up 4% to $494K from $476K last year. Wellfleet remains a predominantly a single-family sales market too.

Positive buyer and seller attitudes coupled with a continuation of relatively low mortgage rates (30-year-fixed rates are averaging 3.875%) and an improving economy bode well for 2015 being a great year to jump into the market.

 

3Q2014 Truro&Well2

 

 

 

 

 

 

 

 

 

 

 

Please call or stop in if you are considering selling or buying, or if you are just curious as to what your home is worth. Our business philosophy has always been that the best-informed buyers and sellers are most satisfied with their real estate results. And that’s what we do best!

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Q4 Boston…what to expect

 

What David Bates thinks about Q4!

Boston Condos in the Last Bit of 2014: What to Expect

CurbedBoston.com by Tom Acitelli

Here’s the latest installment of Bates By the Numbers, a weekly feature by Boston real estate agent David Bates that drills down into the Hub’s housing market to uncover those trends and people you would not otherwise notice.Follow him on Twitter and check out his ebook, Context: Nine Key Condo Markets, 2.0.

holiday-house_283.jpgIt’s Q4. And while Q4 is packed with holidays, let’s not forget that it’s also chock-full of home sales. Nearly 1,000 Boston condos went under agreement during the fourth quarter of 2013, and sometimes holidays and sales were linked—like last Halloween when 12 Boston condos went under agreement, what a treat. And, on Thanksgiving 2013, twoBoston condos sellers gave thanks as they signed offers with one hand and presumably held drumsticks with the other. Also, while you might have missed the real estate door-buster last Black Friday, four Boston condo buyers didn’t; they put condos under agreement that day.

Even on the night before Christmas, when all through the house, not a creature was stirring, not even a mouse… three Boston condo sellers could be heard countersigning offers. At least that’s what the MLS data shows. Then, on Christmas itself, one Boston condo seller got a present they may not soon forget. It wasn’t an ugly sweater or something to be re-gifted, it was an acceptable sales price, so they wrapped up the paperwork and went on their merry way.

Will Q4 bring joy to Boston-area real estaters in 2014. Why not? There are plenty of reasons to buy this Q4. Interest rates are low; and, for many, new babies and new jobs crank up the home-buying motivation. And let’s not forget that what we often want most in a new year is positive change. Hey, what’s more positive change than a new home? In the last week of 2013, a week where almost nothing of consequence happens for most, 45 Boston condo buyers put units under agreement, guaranteeing their new year would start off on the right foot.

Today’s buyers, who for one reason or another missed the spring market, will note that more Boston condos were available for sale on Oct. 1 than were available for sale on April 1. Additionally, it is highly likely that there will be more Boston condos available on Nov. 1 than were available on May 1. So, if you like selection, put on your condo-buying shoes. Of course, while buyers note more selection, they’ll also note fewer competitors as it’s traditionally a slower time of the sales year—even more reason to buy in Q4 2014.

While there are many reasons to buy this Q4, it would be an injustice not to point out that it can be a great time to sell as well. Last year, 865Boston condo sellers listed their homes for sale in Q4. And, although Q4 is not known for its buyer quantity, it might be remembered for its buyer quality. That’s because the median list price of a Boston condo that went under agreement in December 2013 was $449,000. Heck, the median list price of a Boston condo that went under agreement in April 2013 was only $429,900. Can there be any doubt that holiday décor and wishes for joy, peace and goodwill toward all adds to home values?
· Our Bates By the Numbers archive [Curbed Boston]

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Provincetown Sale Of The Week – 532 Commercial Street

 

532 Commercial Street recently sold for $840K.  With three bedrooms and two baths and 912 square feet it is a charming compact East End single family antique. It was being marketed for $899K.

 

532 Com1

 

 

 

 

 

 

 

 

MLS COPYY: A wonderful antique East End home with three bedrooms a bonus dormered artist studio room. Two full baths refinished antique wood floors. Seasonal peeks of the water beach access in the area. Gorgeous yard with a wonderful decked back yard and two car parking. One would be proud to own this home with its stately presence on a corner lot.

 

532 Com 4

532 Com 2

532 Com 3

 

 

 

 

 

 

View all properties for sale at Beachfront-Realty.com

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New Listing Of The Week

 

510 Commercial Street just came on the market at $1.695M. It is a great East End house with 4 beds and 4 baths on an 8,276 sf lot. Many of you may recognize it as it is set back well away from Commercial Street with a wonderful bricked path to the front door.

 

510 Com 1

 

 

 

 

 

 

 

 

MLS COPY: Enjoy water views from this iconic 4BR and 3.5BA Cape Cod home, located across from the beach and steps to the Gallery District. Tucked away on a private lot, this home overlooks a beautiful lawn with lush gardens and private patio. Steeped in charm, the home boasts a newly renovated living/entertaining space that includes a chef’s kitchen, dining room that opens up to a large treed patio, wood burning fireplace, custom built-ins, and DuChateau floors with radiant heating. The first floor also includes a private suite with its own entrance. The upper level features a master suite with views of the bay and Long Point, and two guest bedrooms, one with water views. Other amenities include split new AC system and parking for 3+ cars. This home’s sophisticated charm is a rare combination of beauty, space, and in-town living for all seasons.

 

510 Com 3

510 Com 4

510 Com 2

510 Com 5

 

 

 

 

 

 

View all available properties at Beachfront-Realty.com

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Provincetown Waterfront Sales Snapshot

Last week I reposted a Zillow.com story regarding prices of waterfront property nationwide.  Below is a year to date snapshot of the waterfront market in Provincetown.

There are two very different groups of waterfront properties here in town – condos and single family homes. We are lucky to have a great variety in both groups – but the variety of waterfront/waterside condos is staggering. By waterside I mean on the water side of Commercial street perhaps in a complex that is on the water or a middle or street side unit, or right on the beach…but all with bay access, what we like to call a distinctly valuable “water feature”. In contrast the single family waterfront property market is perhaps the most rarefied and exclusive market on all of Cape Cod.

Only four single family properties have sold on the water so far this year. The average sale price of these homes is   $2.178M. The average size of these home sales is 2,570 sf for an average price per square foot of $847. Not a bad value considering new 1 bedroom condos are selling at $1000 per square foot in the South End of Boston. Below are snapshots of three of those properties.

 

659 Commercial St . $1.507M, 4 bedrooms and 3 baths, 1,300 sf.
659 Commercial St. $1.507M, 4 bedrooms/3 baths, 1,300 sf.
73 Commercial St. $2.85M, 3 bedrooms and 4 baths, 2,418 sf.
73 Commercial St. $2.85M, 3 bedrooms/4 baths, 2,418 sf.
627 Commercial St. $3.1M. 5 bedrooms and 5 Baths. 5,800 sf.
627 Commercial St. $3.1M. 5 bedrooms/5 Baths. 5,800 sf.

 

 

 

 

 

 

 

 

27 waterfront/waterside condos have sold with sale prices from $106K to $925K. The average sale price is $441K which gets you an average 546 sf condo for an average price per square feet of  $807.  The beauty of this town is that you can buy a small waterside Commercial Street condo for very reasonable prices. Below are snapshots of three of these condos.

 

953 Commercial Street #C, $106K, 190 sf.
953 Commercial Street #C, $106K, 190 sf.
41 Commercial St #5. $499K, 550 sf.
41 Commercial St #5. $499K, 550 sf.
495 Commercial St #X, $925K, 1,588 sf.
493 Commercial St #13, $925K, 1,588 sf.

 

 

 

 

 

 

 

 

What is available to buy on the waterfront today in Provincetown?

If you are looking for a single family property you are almost out of luck! There are only seven properties listed in MLS as single family waterfront properties on the market.  Four of those seven are gorgeous Harbour Drive homes in the far East End. The three remaining are at 509 Commercial Street, 529 Commercial Street and 599 Commercial Street.

1 Harbour Drive, $2.395M, 4 bedroom and 5 baths, 3,829 sf.
1 Harbour Drive, $2.395M, 4 bedroom and 5 baths, 3,829 sf.

 

 

 

 

 

 

 

 

 

509 Commercial St. $1.5M, 5B/2B needs renovation, 1,584 sf
509 Commercial St. $1.5M, 5B/2B shell, 1,584 sf
529 Commercial St. $2.699M, 2 beds, 2 baths, $2,091 sf.
529 Commercial St. $2.699M, 2 beds, 2 baths, $2,091 sf.
599 Commercial St. $2.65M, 3 beds/3 baths, 1,732 sf.
599 Commercial St. $2.65M, 3 beds/3 baths, 1,732 sf.

 

 

 

 

 

 

 

 

Additionally there are two multi family properties being marketed on the water. 99 Commercial Street which has 3 residential units and a commercial unit and is being marketed for $2.2M, and 403 Commercial Street which is a 4 unit complex being marketed for 1.995M.

There are 32 condos listed in MLS on the waterside of Commercial Street which is 32% of ALL condos available in town. They located right downtown, in the West End, East End and far East End and represent an amazing assortment of prices and styles.  Many are located in waterfront complex’s, others are in smaller multi unit buildings on the water. Below are snapshots of three of them.

 

945 Commercial St. #2B, $269K, 2 beds/1 bath, 700 sf.
945 Commercial St. #2B, $269K, 2 beds/1 bath, 700 sf.
385 Commercial St. #2, $449K, 1 bed/1 bath, 372 sf.
385 Commercial St. #2, $449K, 1 bed/1 bath, 372 sf.
67 Commercial St #C, $1.599M, 2 beds/2baths, 831 sf.
67 Commercial St #C, $1.599M, 2 bed/2bath, 831 sf.

 

 

 

 

 

 

 

 These  32 available condos have an average listing price of $578K, and a median price of $407K, with an average size of 1,509 sf. 

You can view all available properties for sale at Beachfront-Realty.com.

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Cost Of Waterfront Homes

 

A fun if not oversimplified post from Zillow.com.

 

What Would You Pay to Live on the Water?

 AUTHOR:, Zillow blog

Millions of Americans dream of one day owning a home on the water, and for good reason: The views are often to die for, the array of activities is seemingly endless and the peace of mind gained by knowing you’ll never have a neighbor on at least one side of your home is priceless. But the very things that make waterfront living so appealing can also make it incredibly expensive.

Nationwide, the typical oceanfront or lakefront single-family home is worth more than double the median value of all homes, and in some communities the median waterfront house could be worth more than 10 times the median value of non-waterfront houses, according to a new analysis by Zillow. The median single-family home in the U.S. is worth about $171,600, while the median waterfront house is valued at $370,900, a waterfront premium of 116.1 percent.

Zillow analyzed the 250 largest communities with at least 100 waterfront homes. The analysis only considered oceanfront homes or those on a lake larger than 10 square kilometers. Homes also had to be within 150 feet of the waterline to be considered waterfront. Riverfront and water-view homes were not considered.

Overall, the most expensive waterfront homes are found in communities in coastal California. Laguna Beach tops this list with median waterfront home values of almost $10.1 million. Malibu ($6.3 million) and Hermosa Beach ($4.8 million) round out the top three.

The most affordable waterfront homes in the country are found in Holiday, FL, with median waterfront home values of $103,000. In the top 10 least valuable waterfront communities, eight of the remaining nine cities with the cheapest waterfront homes are located in Florida. In other words, potential buyers looking for the lowest entry point into the waterfront market should consider the lesser-known cities of the Sunshine State.

Among the largest of the 250 cities analyzed (those with populations of 100,000 or greater), the biggest difference between median non-waterfront single-family home values and median waterfront house values are in Tampa (waterfront premium of 733 percent), Honolulu (waterfront premium of 334.5 percent) and Long Beach, CA (waterfront premium of 321.6 percent).

“The allure of ocean and lakefront living is powerful and undeniable, and millions of homeowners nationwide dream of one day owning a home on the water. But those dreams come at a price,” said Zillow Chief Economist Dr. Stan Humphries. “Waterfront properties are both relatively scarce and highly coveted, and that high demand and limited supply leads to higher home prices. Additionally, added insurance, floods, environmental mitigation and infrastructure costs are often part of the tab when buying a waterfront home. Still, as long as buyers understand the added costs and potential headaches, waterfront living is likely to remain one of life’s simple pleasures for many, many years to come.”

Information on all 250 cities analyzed can be found on Zillow Research here.

Blog_ZHVI_Zillow_Sept2014_a_01

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Pending home sales jump 10.3% in one year.

Great national market recap from Tara Steele at Agent Genius.

by 

Pending home sales continue to rise.

9 Telegraph Hill. List price $2.295M Pending.
9 Telegraph Hill. List price $2.295M Pending.

Although pending home sales improved only 0.3 percent in April, according to the National Association of Realtors, contract signings actually rose 10.3 percent compared to April 2012. Pending sales have now been above year-ago levels for the past 24 months, marking a very slow but somewhat sure recovery for housing.

Regional pending home sales varied, as the Northeast and Midwest saw improvement, while the South and West both dropped. NAR reports that home contract activity is at the highest level since April 2010, immediately before the deadline for the home buyer tax credit which spurred a metaphorical gold rush on homes.

Existing home sales expected to rise to 5M

Dr. Lawrence Yun, NAR’s chief economist said, “The housing market continues to squeak out gains from already very positive conditions. Pending contracts so far this year easily correspond to higher closed home sales in 2013. Total existing-home sales are expected to rise just over 7 percent to about 5 million this year.”

“Because of inventory shortages, higher home sales will push up home values to the highest level in five years,” Dr. Yun added. NAR says the national median existing-home price should increase close to 8.0 percent and exceed $190,000 in 2013.

Sales varied according to region

Home contract activity rose 11.5 percent in the Northeast, marking a 17.7 percent increase from April 2012 and jumped 3.2 percent for the month in the Midwest, and a whopping 15.1 percent for the year.

Meanwhile, pending home sales slid 1.1 percent in the South, but rose 12.3 percent compared to April 2012. The tough spot is currently the West region which saw a 7.6 percent dip in signed contracts, pulling the region down 2.6 percent for the year.

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Vacation Hotspots

Fun post by Scott from Boston.com Real Estate

HomeImage-Aerial_Provincetown

Posted by Scott Van Voorhis

Ever wonder where your neighbors are headed on vacation? If you live in Greater Boston, it’s a good bet they aren’t headed very far.

Trulia today is releasing its list of the top vacation home destinations for each major metro market, as well as nationally, based on a tally of searches on the real estate portal.

Of the top ten most popular vacation home destinations for buyers from Greater Boston, nine are on Cape Cod.

In fact, the only break from the pattern is Wells, Maine. Sorry New Hampshire, Vermont and Rhode Island, you are out of luck.

Let’s not get big heads here, though. Sure, we love the Cape, though I’d argue traffic and overdevelopment is close to wrecking the place. Just get off Route 6 in Hyannis and take a scenic drive down Route 28.

But the rest of America is not so enamored with our favorite vacation playground.

Only one Massachusetts zip code managed to make it onto Trulia’s list of the top 20 vacation home destinations across the country.

And that happens to be Nantucket, which ranks at a distant No. 20 in popularity.

The most popular vacation home destination in America, at least according to Trulia, is not Chatham or Provincetown, but rather Cape May in New Jersey, and specifically, Oceanwood, where the median price is $525,000.

Here’s Trulia list:

Where Bostonians Search for Vacation Homes

# ZIP Code Town    State         Median Asking Price
1 02649 Mashpee  MA             $419,900
2 02639 Dennisport MA            $224,900
3 02540 Falmouth MA              $549,950
4 02554 Nantucket MA             $1,799,999
5 02536 Teaticket   MA             $379,000
6 02633 South Chatham MA     $815,000
7 02657 Provincetown MA         $596,500
8 02631 Brewster MA               $439,000
9 02642 Eastham MA               $445,750
10 04090 Wells ME                  $256,670