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general info

Provincetown Listing Of The Week

 

A great West End property, 66 Commercial Street was recently listed for sale for $2.195M.  It is a 7 bedroom main house and  a 2 unit cottage with a lot of 10,090 sf.

 

66 Com

 

 

 

 

 

 

 

MLS COPY: A rare and enchanting find in the desirable West End of Provincetown. The property is comprised of a seven-bedroom antique home and a freestanding two-unit cottage. It has an expansive back yard that extends along a private lane. Ample parking. A large yard awaits your creativity.

66 C 5

66 C 3

66 C 2

66C 4

 

 

 

 

 

 

The pictures above are of the 2 unit cottage in the rear of the property bordering on Atwood Avenue .

See all available properties at Beachfront-Realty.com.

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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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analytics general info

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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general info trends

Three Boston Neighborhoods With A September To Remember

 

An interesting post from Curbed.com.

 

Three Hub Condo Markets Have a September to Remember

Thursday, October 16, 2014, by Tom Acitelli
Here’s the latest installment of Bates By the Numbers, a weekly feature by Boston real estate agent David Bates.

up-arrow.jpgIf September was the month that you were supposed to put down the home sale and pick up the homework, then nobody told the Cambridge, Somerville and South End condominium markets. In Cambridge, the number of condominiums that went under agreement in September 2014 was 53 percent greater than did so in September 2013. In the South End, September under-agreements were up 64 percent. And versus September 2013, Somerville’s under agreements were up 18 percent and the median list price of Somerville under-agreements was up an impressive 20 percent.

These significant sales gains were in sharp contrast to the weak and somewhat flat results of many other Hub condo markets. In Back Bay, 17 percent fewer condominiums went under agreement in September 2014 than in September 2013. And, in Charlestown, September under-agreements were off 29 percent compared with the year before.

What was the leading indicator of how a market fared in 2014 versus 2013? Inventory, of course. In Cambridge, 40 percent more listings came to market this September versus last. The South End listed 20 percent more condos than it did in September 2013. In contrast, the Back Bay (-23 percent) and Charlestown (-23 percent) markets had significantly fewer condominium listings come to market than they had last September.

The increase in for-sale inventory and the advantageous market conditions combined to make this the best September for Cambridge pending sales since 2007. As well, according to MLS, data it was the best South End September for pending sales in at least as long. In Somerville, where nearly three times as many condominiums went under agreement as did in September 2011, it might have been the best ever September.

Will the uptick in pending sales continue in these key Hub markets for the rest of the year? It will depend on the amount of sale-able inventory that comes to market.
· 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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Provincetown Sale of The Week

 

160 Bradford Street #A is 3 bedroom, 4 bath new construction condo in the West End at the corners of West Vine Street, Bradford Street and Victors Restaurant – the crossroads of the West End.  It sold for $1.050m having been marketed for $899K. This sale certainly highlights the strong demand for high quality, well located condos in Provincetown.

 

160 B 2

 

 

 

 

 

 

 

 

 

 

 

MLS COPY: Be the first to own this newly constructed home in Provincetown’s west end. Ideally located between town and the ocean beaches, this 3 bedroom/3.5 bath condominium offers views, superb finishes and quality construction. Open floor plan on the entry level with fireplace and dramatic tray ceilings delineating the kitchen, dining and living areas. There are 2 bedrooms on the 2nd floor, each with bathroom and views of the Bay. A spiral staircase leads from the 2nd level to the 130 square foot roof deck which has views in all directions from The Pilgrim Monument to and Race Point. The lower level is ideal for your guest suite with bath and media room. In addition to the roof deck there is also a large front deck on the entry level. There is off-street parking, central a/c, laundry, hardwood floors and many other fine finishes throughout!

See all available properties at Beachfront-Realty.com.

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Provincetown Listing Of The Week

 

34 Commercial Street is a rarity…a single family home for sale between Point Street and The Provincetown Inn on Commercial Street. No one wants to leave this utterly gorgeous block of iconic West End homes. It is a 3 bedroom 4 bath home with 2,560 square feet and is being marketed for $1.795M.

 

34 C 1

 

MLS COPY: Perhaps one of the best locations in the West End, this beautiful single family home is a short stroll to the beach, yet is not in a flood zone. The classic Cape exterior belies the soaring Great Room, as you step in the front door. Flooded with sunlight, this stunning, unique & airy space, has an interior balcony recently built in 2012, which gives one an interesting perspective on the Great Room & a lovely view of the lush & private front yard. The master bedroom & bath also completed in 2012, provides a private getaway from the main living area. There is a cozy den with gas fireplace off the main room, which would also make a great home office. A rare 3 car heated garage is reached from Point St. It has a large guest room above with a full bath. The entire property is served by a whole house generator including the garage.

 

34 c 734 c 634 C 234 C 3

 

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

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Boston Metro Luxury Town Rundown

 

Interesting post from Scott about the “W” towns.

 

Luxury Towns

Posted by Scott Van Voorhis

Thumbnail image for 190 Pond Road, Wellesley.jpg

The luxury market is red hot right now. And the suburban epicenter for multimillion-dollar home sales in the Bay State can be found in the suburbs of Wellesley and Weston.

High-end sales have always been big in these two coveted suburbs. Now both towns are nearing the point where practically all sales are in the luxury price ranges, a new report by Wellesley-based Pinnacle Residential Properties finds.

A total of 274 homes were sold in Wellesley and Weston during the first seven months of 2014. Of these, just ten homes changed hands for $600,000 or less, with just three selling for less than $400,000.

By contrast, more than twice as many homes in the two W towns – 21 – sold for $3 million and up through the end of July, Pinnacle finds. (This five bed, eight bath manse, at 190 Pond Road in Wellesley, is now on the market for $5.2 million after a price cut of $100,000.)

Another 131 homes sold in the $1 million to $2 million price range during the same period in Wellesley and Weston, the report finds.

So as the W towns go, so goes the state? Well, not exactly. Still, luxury sales are on fire in upper income towns and neighborhoods across Massachusetts right now. The number of homes fetching $3 million and up has jumped by more than 30 percent compared to 2013, Pinnacle reports.

“It has certainly been a strong year for the trade-up and luxury markets,” writes Elaine Bannigan, the report’s author and owner and founder of Pinnacle Residential Properties.