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
analytics

The Goode and Farmer Report January 2015

PROVINCETOWN

With the start of 2015 we would like to wish you all a wonderful, happy and prosperous New Year. We also want to thank our many friends and associates for sending those many referrals our way. They are much appreciated.

In 2014 higher prices, increasing values, strong buyer demand, and continuing low interest rates made the year an outstanding one. For buyers, sellers and investors there seemed to be a healthy balance between a buyers and sellers market as inventory is generally balanced with buyer demand. That balance may change in 2015 as we are not seeing the anticipated increase in inventory that the market is craving.

Year-end sales in Provincetown were strong with condos continuing to lead the market. The median sale price of condos sold in Provincetown increased 10% to $428K from $389K. The number of condo sales recorded in MLS were 21% higher this year than last year’s 150 sales. Sales volume increased by a 23% to $69M. The average sale price of condos increased 3% to $466K. The average price per square foot of condos sold in all price ranges was $560 per square foot. The condo mid market continues to move up from the $400K to $600K range to the $500K to $700K range.

Condo inventory as of December 31 is low with only 74 available with an average asking price of $551K and an average price per square foot of $620.

The median price of single-family homes was $840K down 5% from $887K in 2013. The average price of single-family properties sold was $1.03M, similar to last years $1.02M. There were 38 single-family sales, which is down 21%. Total sales volume was $39M down from $49M. We continue to feel that these softer single-family numbers are being caused by a lack of inventory and the strong demand for condos. The average price per square foot of single-family properties sold was $486psf.

The $1M plus single-family market remains slower with12 sales and $21M in sales volume compared to 19 sales last year with a volume of $29M.

There are 46 single-family properties on the market with an average price of $1.521M and an average price per square foot of $584.

Inventory in all categories is quite low and will begin to effect sales and prices unless more properties become available. Buyers are feeling confident and will continue investing in second homes and investment properties if there are enough choices available and if mortgage rates stay low.

 

ptown chart

 

 

 

 

 

 

 

 

 

 

 

TRURO AND WELLFLEET

The single-family home market in Truro and Wellfleet is strong. Sales have seen remarkable increases partly due to a lack of inventory and the high average price of homes in Provincetown.

Truro fared well with the average median sales price for single-family properties increasing 25% to $670K from $538K in 2013.

The average sale price was up a whopping 34% to $798K. In stark contrast sales were down 8% to 44 sales this year. There are currently 63 single-family properties on the market with a median price of $825K.

Wellfleet turned in a strong performance with a 21% increase in sales to 85 units from 70 last year. The median sales price of single-family properties sold was up 5% to $505K from $481K last year. The average sale price increased 6% to $566K. Wellfleet remains predominantly a single-family sales market. There are currently 32 single-family properties on the market with a median price of $587K.

 

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Our advice remains consistent. 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. Buyers are feeling confident enough to buy second homes and the rental market is so strong that rental income can make buying that second home or investment property so much easier.

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

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
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.

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.

 

Categories
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!

Categories
analytics general info

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.

Categories
analytics style

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.

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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.

 

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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.

 

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

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West End Listing Of The Week

7 Oppen Lane is large post and beam home with 3 bedrooms, 4 baths and 2,912 square feet.  It is being marketed for $1.850M. Oppen Lane is in the West End past Victors restaurant.

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MLS COPY AND PICTURES: Custom-built Timberpeg post & beam set on a large, private lot in the West End. Expansive windows face s/sw with sweeping views of Long Point and Cape Cod Bay. Cathedral ceilings, 2-story windows and an open floor plan invite sunshine and ocean breezes into beautiful living spaces. Glass doors open onto large deck with outdoor kitchen. Gourmet cook’s kitchen with ample counter and cupboard space, professional-grade appliances, island, separate pantry and dining area. A kitchen garden provides fresh herbs and vegetables. Gas fireplace, custom built-ins, whole house music system, gracious foyer and first floor master suite with Jacuzzi tub and private deck. Other amenities include first floor laundry, elevator, temperature controlled wine cellar, radiant heat and central vac.

 

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