Categories
analytics trends

Baby Boomers To Have The Largest Household Growth

 

I found this very interesting….baby boomers aren’t just downsizing, but trading up, going across town and country…going with the “freedom threshold”. A great post by the KCM crew. (Keeping Current Matters)

Baby Boomers: Home Is Where The Heart Is

Baby Boomers Find Freedom in Housing | Keeping Current Matters

Within the next five years, Baby Boomers are projected to have the largest household growth of any other generation during that same time period, according to the Joint Center for Housing Studies of Harvard. Let’s take a look at why…

In Merrill Lynch’s latest study“Home in Retirement: More Freedom, New Choices” they surveyed nearly 6,000 adults ages 21 and older about housing.

Crossing the “Freedom Threshold”

Throughout our lives, there are often responsibilities that dictate where we live. Whether being in the best school district for our children, being close to our jobs, or some other factor is preventing a move, the study found that there is a substantial shift that takes place at age 61.

The study refers to this change as “Crossing the Freedom Threshold”. When where you live is no longer determined by responsibilities, but rather a freedom to live wherever you like. (see the chart below)

Crossing The "Freedom Threshold" | Keeping Current Matters

As one participant in the study stated:

“In retirement, you have the chance to live anywhere you want. Or you can just stay where you are. There hasn’t been another time in life when we’ve had that kind of freedom.” 

On the Move

According to the study, “an estimated 4.2 million retirees moved into a new home last year alone.” Two-thirds of retirees say that they are likely to move at least once during retirement.

The top reason to relocate cited was “wanting to be closer to family” at 29%, a close second was “wanting to reduce home expenses”. See the chart below for the top 6 reasons broken down.

Reasons for Moving in Retirement | Keeping Current Matters

Not Every Baby Boomer Downsizes

There is a common misconception that as retirees find themselves with less children at home that they will instantly desire a smaller home to maintain. While that may be the case for half of those surveyed, the study found that three in ten decide to actually upsize to a larger home.

Some choose to buy a home in a desirable destination with extra space for large family vacations, reunions, extended visits, or to allow other family members to move in with them.

“Retirees often find their homes become places for family to come together and reconnect, particularly during holidays or summer vacations.”

Bottom Line

If your housing needs have changed or are about to change, meet with a local real estate professional in your area who can help with deciding your next step.

Categories
analytics trends

Boston Metro Winners And Losers In The Pricing Game

Interesting post by Scott from Boston.com.

Mass.’s Biggest Winners, Losers in the Home Pricing Game

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iStock

 

By Scott Van Voorhis, Boston.com Correspondent |

 

 

 

 

The difference between the biggest winners and losers when it comes to home prices across Massachusetts can be summed up in a single word: jobs.

Cambridge and nearby cities and suburbs dominated the 2014 list of the top ten gainers in home values over the past decade, reports The Warren Group, publisher of Banker & Tradesman.

The epi-center of the tech and life sciences boom, Cambridge led the way with an 80 percent increase in its median home price since 2005, which hit a lofty $1.2 million in 2014.

By contrast, the top 10 losers in value were all beyond the 128 and 495 beltways in economically struggling parts of the state, distant from the wealth and jobs of Greater Boston and Cambridge.

“Proximity to good jobs seems to be the common thread among the top communities,” Timothy M. Warren Jr., chief of The Warren Group, said in a press release. “Location matters in real estate, and here we see these key communities adding even more in terms of their home values.”

Top 10 winners
 Of the top 10, Somerville (No. 6,) and Belmont (No. 8.) both border Cambridge, while six others are with 5 or 10 miles of the city. Jamaica Plain was No. 2, having seen a 40 percent increase over the last decade that drove the median price of a home in the neighborhood to $700,000.

No. 3 was Lexington, at $950,000 after a 34 percent hike, and it’s practically next door to Cambridge and Somerville, separated only by high-flying Arlington.

After Lexington, there’s South Boston, Brookline, Concord, Newton, and Winchester.

By contrast, hard-hit old industrial towns and cities along Route 2 in North Central Massachusetts took the biggest hits to their home values.

Athol led the way down with a 36 percent plunge that lowered its median price to $115,000, followed by Fitchburg, Orange, and Gardner.

Top 10 losers
Top 10 losers

The Warren Group

 

 

“The extreme decline in median prices in these communities is unfortunate and indicative of the underlying factors occurring in each of these communities,” Warren said.

Three towns from Central Massachusetts also made the losers list: Warren (No. 4), Southbridge (No. 3), and Barre (No. 8).

Rounding off the list were Randolph, the only town in Greater Boston to make the list of the biggest decliners, and New Bedford.

However, rock bottom prices for homes and other real estate could provide some of the ingredients for a comeback for these communities as well, Warren noted.

“In order for prices to rebound, an economic revitalization in these areas needs to occur,” he said. “With low-cost housing abundant, these communities should be able to attract business relocations and start-ups.”

Categories
trends

January Sales Steady – Cape Cod Times

 January performance in line with previous year despite blizzard

 Two men walk along the middle of Jones Road in Falmouth during the Jan. 27 blizzard. Despite the weather's effects, property sales on the Cape were solid in January, the Barnstable County Registry of Deeds reported Friday.  Ron Schloerb/Cape Cod Times

 

Two men walk along the middle of Jones Road in Falmouth during the Jan. 27 blizzard. Despite the weather’s effects, property sales on the Cape were solid in January, the Barnstable County Registry of Deeds reported Friday. Ron Schloerb/Cape Cod Times

By Bryan Lantz
[email protected]
BARNSTABLE – The Cape’s real estate sales for January may have gotten partially buried in snow, but the market’s performance remained solid.
The Barnstable County Registry of Deeds reported Friday that sales volume last month was nearly identical to January 2014. The median price last month was down slightly less than a percentage point. Register of Deeds John F. Meade said those results came in a month when harsh winter weather limited activity to close sales.”The last two weeks are typically the busiest time of the month,” Meade said. “The snowpocalypse didn’t help much.”When a blizzard struck in the last week of the month, weather forced the registry to close on Jan. 27 and 28. “On Thursday (Jan. 29), we were open, but really no one was coming out to close transactions,” Meade said.
For the month, the registry recorded 396 deeds of property valued at more than $50,000, one fewer than in January 2013. The median price receded from January 2014’s $328,000 to $325,000 last month, the registry reported. The beginning of the year is typically the slowest time for property sales, Meade said. “January and February are the quietest months,” he said. “But we did have a strong December.”
Though weather may have prevented closings late in the month, both residential and commercial agents said the market has been robust. “It’s like an April market in the middle of a snowstorm,” said Tom Hester, principal of Tom Hester Real Estate in Dennis. “The phone’s been ringing a lot this winter.” Hester said low interest rates have provided a strong incentive for buyers to finance home sales. And he said both interest in both first and second homes has been strong this winter
Meade also said that interest rates were bringing more activity to the registry. Mortgage activity was up almost 2 percent, he said, as rates have reached multi-year lows.
On the commercial real estate front, John Ciluzzi, president of Premier Commercial in Hyannis, described conditions as “bullish.””The first quarter of 2015 has proved to be pretty good,” he said. “We’ve seen strong sales and leasing in January. There’s been a lot of interest, which we gauge as actual offers and money placed into escrow. When you get conditions like this, it’s why I say I’m bullish about the market.”
While the registry covers sales, Ciluzzi pointed out that another key part of the Cape’s commercial landscape also has been performing well: leasing. “That’s really the origination of new businesses,” he said. “Right now, we see a lot of leases in the office, retail and medical sectors.
And a look at a broader time span shows the real estate market continuing to improve, Meade said. “Six months to a year gives a better tell about where things are going,” he said. “And that looks like we’re on pace for continuing slight improvement.
The registry also reported that January was the 10th consecutive month with a median Cape sales price above $300,000.
Categories
general info trends

Southie Leads Development Boom

Another great post by Scott.

 

Southie Leads Boston’s Development

 

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Flickr Creative Commons

 

By Scott Van Voorhis

 

 

 

Sure, Back Bay and Downtown Crossing may have all the new towers, but when it comes to overall development activity, South Boston is arguably the epicenter of the city’s development boom.

Southie currently has 42 projects either in the planning or approval stage, under construction, or recently opened. Most feature or include new apartment rentals, townhomes, or condos, according to the Boston Redevelopment Authority’s map of the Hub’s development scene.

The developments range from converted churches to brand spanking new buildings. The luxury West Square development at 320 D Street, which is still under construction, includes 259 apartments and 143 parking spaces.

If you throw in another 22 projects happening in the South Boston Waterfront, including the multibillion-dollar Seaport Square development , the number rises to 64 – three times or more than any other city neighborhood.

Not that super hot neighborhoods like the Back Bay (11 projects) and South End (19 projects), are any slouches either.

Back Bay and neighboring Downtown include plans for the three poshest and tallest towers even built in Boston: one still in the planning in Copley Square, and construction underway at the 61-story Four Seasons Tower and the 60-storyMillennium Tower.

“There has been a big shift in our city,” said Tracy Campion of Campion & Co., the brokerage in charge of the building’s sales. “Back Bay and Beacon Hill are bursting out of their seams.”

Other neighborhoods are also seeing a big surge in development.

East Boston may now be one of the hottest new neighborhoods in terms of big projects outside of South Boston.

A trio of grand waterfront developments is in the works for the neighborhood’s once hardscrabble waterfront, including 400 new apartments and condos at Clippership Wharf.

Charlestown’s real estate market heated up a couple decades ago, much like Eastie’s is doing now. The Charlestown boom continues, with plans for 85 new residential units and public space on the first floor at Pier 5.

Fenway is another neighborhood in the middle of a dramatic transformation, from a gritty student alcove to one of the more exciting places to live in the city.

With building sites scarce in the densely packed neighborhood, developers are pushing to span the Massachusetts Turnpike with ambitious air-rights projects.

Developer John Rosenthal is lining up financing for Fenway Center , a $550 million apartment and retail project proposed for an air-rights platform over the Massachusetts Turnpike by Fenway. Plans for Parcel 7 air-rights include a seven-story residential building and a 22-story residential and office tower.

Near the Hynes Convention Center and the Berklee College of Music, New York-based Peebles Corp. is pushing plans for a $330 million air-rights project at Parcel 13, including 88 condos, a hotel and shops.

Often overlooked, Dorchester now has 20 major projects in the works, including a proposal for for 275 residential units and 143 parking spaces at 25 Morrissey Boulevard by the JFK/UMass T station, while St. Kevin’s redevelopment, now underway, features 80 affordable units.

Brighton has 21, including 1505 Commonwealth Ave., a proposal to convert an office building into 85 residential units. Allston’s 15 projects include a new proposal for 87 apartments, ground floor retail, and 66 parking spaces at 37-43 North Beacon Street.

Meanwhile, Roxbury has 20 big projects in the pipeline, a number that includes 102 residential units in two buildings in the first phase of Bartlett Place , along with 16,839 square feet of commercial space and a garage with 130 spaces. When the build out is complete, the entire development will have 323 residences.

Last but not least, Jamaica Plain has 16 new projects, including The Commons at Forest Hills Station, which calls for 283 new residential units at the former Hughes Oil site. Demolition work began last fall.

Categories
analytics trends

2014 Year End Review – Continued

 

Many of you have seen The Goode and Farmer 2014 year end report which I recently posted. Below are some market  highlights of our  2014 business which is representative of the market as a whole in Provincetown with a natural focus on the popular mid market.

 

Highlights

Categories
style trends

Ten Hot Housing Trends For 2015

Below is a great post by Mike Wheatley of RealtyBiz. Emerging trends include specialized storage, charging stations, porcelain floors, quartzite counters and more – an interesting rundown on design trends we will see in 2015.

 Ten Hot Trends For 2015

This time of the year, we hear from just about every sector of the economy what’s expected to be popular in the coming year. Foodies with their fingers on the pulse of the restaurant industry and hot TV chefs will tell us to say goodbye to beet-and-goat cheese salad and hello roasted cauliflower, and there’s no end to the gadgets touted as the next big thing.

In real estate, however, trends typically come slowly, often well after they appear in commercial spaces and fashion. And though they may entice buyers and sellers, remind them that trends are just that—a change in direction that may captivate, go mainstream, then disappear (though some will gain momentum and remain as classics). Which way they’ll go is hard to predict, but here are a few trends that experts expect to draw great appeal this year

Coral shades

A blast of a new color is often the easiest change for sellers to make, offering the biggest bang for their buck. Sherwin-Williams says Coral Reef (#6606) is 2015’s color of the year because it reflects the country’s optimism about the future. “We have a brighter outlook now that we’re out of the recession. But this isn’t a bravado color; it’s more youthful, yet still sophisticated,” says Jackie Jordan, the company’s director of color marketing. She suggests using it outside or on an accent wall. Pair it with crisp white, gray, or similar saturations of lilac, green, and violet.

Open spaces go mainstream

An open floor plan may feel like old hat, but it’s becoming a wish beyond the young hipster demographic, so you’ll increasingly see this layout in traditional condo buildings and single-family suburban homes in 2015. The reason? After the kitchen became the home’s hub, the next step was to remove all walls for greater togetherness. Design experts at Nurzia Construction Corp. recommend going a step further and adding windows to better meld indoors and outdoors.

Off-the-shelf plans

Buyers who don’t want to spend time or money for a custom house have another option. House plan companies offer myriad blueprints to modify for site, code, budget, and climate conditions, says James Roche, whose Houseplans.com firm has 40,000 choices. There are lots of companies to consider, but the best bets are ones that are updating layouts for today’s wish lists—open-plan living, multiple master suites, greater energy efficiency, and smaller footprints for downsizers (in fact, Roche says, their plans’ average now is 2,300 square feet, versus 3,500 a few years ago). Many builders will accept these outsiders’ plans, though they may charge to adapt them

Freestanding tubs

Freestanding tubs may conjure images of Victorian-era opulence, but the newest iteration from companies like Kohler shows a cool sculptural hand. One caveat: Some may find it hard to climb in and out. These tubs complement other bathroom trends: open wall niches and single wash basins, since two people rarely use the room simultaneously.

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photo credit: Rev Stan via photopin cc

Quartzite

While granite still appeals, quartzite is becoming the new hot contender, thanks to its reputation as a natural stone that’s virtually indestructible. It also more closely resembles the most luxe classic—marble—without the drawbacks of staining easily. Quartzite is moving ahead of last year’s favorite, quartz, which is also tough but is manmade.

Porcelain floors

If you’re going to go with imitation wood, porcelain will be your 2015 go-to. It’s less expensive and wears as well as or better than the real thing, says architect Stephen Alton. Porcelain can be found in traditional small tiles or long, linear planks. It’s also available in numerous colors and textures, including popular one-color combos with slight variations for a hint of differentiation. Good places to use this material are high-traffic rooms, hallways, and areas exposed to moisture.

Almost Jetson-ready

Prices have come down for technologies such as web-controlled security cameras and motion sensors for pets. Newer models are also easier to install and operate since many are powered by batteries, rather than requiring an electrician to rewire an entire house, says Bob Cooper at Zonoff, which offers a software platform that allows multiple smart devices to communicate with each other. “You no longer have to worry about different standards,” Cooper says.

Charging stations

With the size of electronic devices shrinking and the proliferation of Wi-Fi, demand for large desks and separate home office is waning. However, home owners still need a dedicated space for charging devices, and the most popular locations are a corner of a kitchen, entrance from the garage, and the mud room. In some two-story Lexington Homes plans, a niche is set aside on a landing everyone passes by daily.

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photo credit: the tartanpodcast via photopin cc

Wellness systems

Builders are now addressing environmental and health concerns with holistic solutions, such as heat recovery ventilation systems that filter air continuously and use little energy, says real estate developer Gregory Malin of Troon Pacific. Other new ways to improve healthfulness include lighting systems that utilize sunshine, swimming pools that eschew chlorine and salt by featuring a second adjacent pool with plants and gravel that cleanse water, and edible gardens starring ingredients such as curly blue kale.

Special storage

The new buzzword is “specialized storage,” placed right where it’s needed. “Home owners want everything to have its place,” says designer Jennifer Adams. More home owners are increasingly willing to pare the dimensions of a second or third bedroom in order to gain a suitably sized walk-in closet in their master bedroom, Alton says. In a kitchen, it may mean a “super pantry”—a butler’s pantry on steroids with prep space, open storage, secondary appliances, and even a room for wrapping gifts. “It minimizes clutter in the main kitchen,” says architect Fred Wilson of Morgante-Wilson.

Categories
trends

Real Estate Trends That Defined 2014

Below is an rundown of real estate trends we saw in 2014 and a look forward to what we might see in 2015. This post provides a terrific national overview that is meaningful for our local markets as well.

The year 2014 saw a steady build-up of housing momentum that is expected to carry the market into 2015 gains, according to a realtor.com® report released today.

The 2014 Housing Review points to significant improvements in the U.S. economy overall and low mortgage rates as fueling the housing market. However, there are also factors that continue to hold back a recovery, including tight credit restrictions and a limited supply of homes for sale.

“The strong outlook for 2015 is based in part on the improvements and momentum experienced by the economy and housing in the second half of 2014,” said Jonathan Smoke, realtor.com®’s chief economist. “With several key factors turning strongly positive, 2014 was a turning point and sets the stage for a stronger recovery in 2015.”

Here are the top 10 trends of the past year, with five indications of growth and five limiting factors.

Realtor.com®’s Top 10 Real Estate Trends of 2014

Indicators of a stronger housing recovery

1. Improving economic fundamentals: After an especially harsh winter, the economy picked up steam this spring and produced a banner year for new jobs. The GDP this year was higher and is still trending higher, resulting in stronger consumer confidence.

2. Historically low mortgage rates continued: Mortgage rates declined despite the end this year of quantitative easing, a monetary policy intended to stimulate the economy. Global weakness, along with actions by the European Central Bank and central banks in Asia, kept our Federal Reserve from raising the Federal Fund Rate, which kept mortgage rates low.

3. Return to normal price appreciation: After two years of abnormally high levels of home price appreciation in 2012 and 2013, price increases moderated throughout 2014. We are now experiencing increases in home prices consistent with long-term historical performance.

4. Decline of distressed sales: Foreclosures and short sales declined throughout the year, and while total home sales decreased year over year, normal (non-distressed) home sales increased over 2013. Foreclosure inventories also fell substantially and are forecasted to be down 30% year over year at the close of 2014.

5. End of the era of major investors active in purchases: Related to the drop in distressed sales opportunities, and against a backdrop of higher home prices, portfolios of single-family homes for rent may have reached their peak this year. Large-scale investor purchase activity in the single-family market sector continued to decline, leaving more room for traditional first-time buyers.

However, we still have a ways to go back to normality.

“Despite the positives, several factors were far from normal this year,” Smoke said. “The limiting factors held back demand and even supply in 2014, but economic gains and late 2014 government housing policy actions brighten the potential for even more positive change in 2015.”

Factors holding back recovery

1. Tight credit standards: Despite historically low rates, many households were prevented from capitalizing on mortgage access because of overlays lenders added to qualification standards in order to limit their risk. As a result, mortgage credit availability did not improve in 2014.

2. Limited inventory: While absolute inventories increased as the year progressed, supply did not outpace demand. Monthly supply of new homes and existing homes remained beneath normal levels, and the age of inventory was down year over year.

3. Depressed levels of first-time buyers: The share of first-time buyers fell to the lowest level in more than 20 years, according to the National Association of REALTORS®. “But the first-time buyer share is showing signs of modest improvement by the year-end,” said Lawrence Yun, NAR Chief Economist. Federal policy actions, such as revised regulations for lenders and new low down-payment programs introduced in December are anticipated to have a positive impact in 2015.

4. Record levels of renters and ever-increasing rent prices: Continued declines in homeownership rates resulted in record numbers of renting households. Rent increases became an inflationary concern this year, and looking ahead, the pace of these increases is not slowing down.

5. Lack of recovery in homebuilding and low share of new home sales: Single-family starts barely increased in 2014 over 2013. New home sales remain far from normal share levels – typically near 16%, they are now around 9%. New home prices increased substantially again this year, revealing that higher priced product is limiting the demand.

Categories
trends

Boston Is Market To Watch In 2015

Great story from Boston Magazine

 

Boston Ranks as a Market to Watch in 2015

After analyzing real estate markets around the country, both Boston and Middlesex County are listed in the top 10 housing markets to watch next year.

Photo provided by Shutterstock.

Real estate search database Trulia has released their 2015 Housing Outlook report, including the top 10 housing markets to watch in 2015. After analyzing market potentials and trends throughout the country, researchers selected 10 markets with the capacity for real estate growth in the upcoming year. Factors like job growth, vacancy rate, and the amount of millennials ready to enter the work force influenced their report.

According to the report:

Our 10 markets to watch have strong fundamentals for housing activity. These include solid job growth, which fuels housing demand, and a low vacancy rate, which spurs construction. We gave a few extra points to markets with a higher share of millennials. These young adults are getting back to work and that will drive household formation and rental demand. We didn’t include markets where prices looked at least 5% overvalued in our latest Bubble Watch report.

Here are the Top 10 Housing Markets to Watch in 2015, in alphabetical order:

•  Boston, MA
•  Dallas, TX
•  Fresno, CA
•  Middlesex County, MA
•  Nashville, TN
•  New York, NY-NJ
•  Raleigh, NC
•  Salt Lake City, UT
•  San Diego, CA
•  Seattle, WA

Despite low inventory rates, over-asks, and bidding wars, the Boston market has a slue of new luxury apartments aimed at millennials, who are predicted to be one of the highest groups of home buyers this year.

Categories
trends

Boston Seaport Buildings May Rein In Rents

 

Good post by Scott at Boston.com. Check out the gorgeous renderings.

One Seaport Square May Rein In Boston’s Runaway Rents

 

Rendering of One Seaport Square, slated to open in 2017.
Rendering of One Seaport Square, slated to open in 2017.

Elkus Manfredi
By Scott Van Voorhis
Boston.com Correspondent

Take that, rising rents. More than 800 new apartments are poised to take shape near Boston’s waterfront in a massive project so large it might just help rein in the Hub’s runaway rents.

Developers of the $600 million One Seaport Square broke ground Friday on the 1.5-million-square-foot project, just across the street from Fan Pier and the new ICA in Boston’s Seaport/Innovation District.

A centerpiece of the new development will be a pair of new towers, 20 and 22 stories tall, that will be packed with 832 apartments ranging from tiny “innovation units” to spacious luxury digs.

Slated to open in 2017, the new development will put more new apartments on the market in Boston than any single project in decades.

The two towers, named VIA and The Benjamin, will come with an array of shared spaces, including gardens, places to grill, lounges, and a heated outdoor pool overlooking the skyline.

“When you bring so many new apartments, the market will adjust,” predicts Vivien Li, executive director of the Boston Harbor Association and a long-time observer of development along the city’s waterfront. “What we may find is that rents may start to level out.”

The new development will also feature oodles of new places to eat and shop, with 250,000 square feet of retail space planned for the largest shopping and dining venue yet in the Seaport. Coming attractions include the upscale ShowPlace ICON Theater, a Kings Bowl, and an Equinox fitness center.

The project is the work of a trio of high-powered developers. Veteran tower builder John Hynes, son of legendary newscaster Jack Hynes and grandson of one of Boston’s influential mayors of the last century, snapped up the sprawling collection of parking lots nearly a decade ago.

He later teamed up with the Berkshire Group and WS Development, which has rolled out a number of suburban life-style centers, including The Street in Newton and Legacy Place in Dedham.

“One Seaport Square will be our largest project in Boston,” Hynes said in a statement. “It will set the tone for just how dynamic this new neighborhood will be in all categories: commercial, residential, shopping, dining and entertainment. We cannot wait to bring it to life.”

While Hynes and his partners are mum on what rents will be for the new apartments, the developers say they aren’t looking to do just another luxury rental high-rise, but are aiming to have a wider range of apartments.

The innovation units in particular, will be aimed at young professionals, with relatively tiny apartments featuring just a few hundred square feet of space aimed at offering a more reasonable rent. But the luxury apartments are likely to draw a wide range of prospective tenants, including wealthy empty nesters attracted to the cachet of Boston’s vibrant and growing waterfront, Li said.

The apartments will join a neighborhood that’s seeing billions in new construction take shape, from office and hotel towers, to luxury condos and a $1 billion expansion of the Boston Convention & Exhibition Center.

Just across the street at Fan Pier, waterfront developer Joe Fallon has been selling dozens of multimillion-dollar condos.

“The market has really made this area hot,” Li said.

 

Aerial view of the One Seaport Square location.
Aerial view of the One Seaport Square location.

Hannah Cohen for Boston.com

 

Approximate views from the One Seaport Square location.
Approximate views from the One Seaport Square location.

Mike Diskin

 

Approximate nighttime view from the One Seaport Square location.
Approximate nighttime view from the One Seaport Square location.

Mike Diskin
Categories
analytics trends

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.