524 Commercial Street is a three bedroom, four bath home with 3,000 square feet in the East End neighborhood of Provincetown. It sold for $1.425M with an asking price of $1.499M.
MLS COPY: Welcome to the historic birthplace of Admiral MacMillan, Arctic Explorer. This 1850 original antique has been completely rebuilt in conjunction with Provincetown historic codes. Details seen from the front and public way have been painstakingly repaired or replaced. The home is now totally rebuilt and renovated to the highest standards using top grade materials and incorporating many modern amenities. Included in the 3000sf contemporary design is a first floor open living plan, a finished basement, and three bedrooms with en suite baths upstairs. See attached floor plans and expanded detail for more. This will truly make the next owner a very special and unique historical homestead!
It’s time once again for Curbed Comparisons, where we break down what you can get at the same price point, style or size in five different Cape and Islands neighborhoods. This week, listings for $589,000.
Here now, eight Cape Cod properties asking $589,000 – year-round, condos, Capes, close to the beach, in need of TLC, in the village, Circa 1775, overlooking Provincetown Harbor, with fireplaces galore, recently PriceChopped, move-in ready, and ready to rent – with a little something for everyone.
What $589K Buys on Cape Cod
CATAUMET
Kicking off in Cataumet with a classic suburban listing for a 1992 Colonial with 3BR, 2BA on a cul-de-sac. The .97 acre property is asking $589,900.
5 OLD CATAUMET PASSAGE ROAD, EAST FALMOUTH, MA 02536
This geographically inclined listing for a “remodeled California ranch” with “a new European style kitchen” and a family room featuring “a Tennessee marble floor” is yours for $589,900.
Here’s a 2,357sf fixer upper on .25 acres in New Seabury for $589,000. The 3BD comes with a sauna, three-season porch and is a “short walk to a fresh water beach.”
Located on the spicy Nutmeg Lane is this 3BD, 2BA ranch. The Oyster Hills listing hit the market in June 2014 for $634,500 and is now hoping for $589,000.
On the market for the first time in almost 20 years is this 1BR, 1BA with an exclusive use deck. “This downtown penthouse water view condo is quintessential Provincetown!” Asking price is $589,000.
While it is early to make many predictions about the spring market, one thing we can say for sure is that the snow and cold has delayed it. Realtors everywhere are notorious for rushing the spring market, and putting all their new inventory on the market as early as possible after the New Year. Not so with all this snow, but hopefully with temperatures rising next week, we will begin to see some listing activity.
Locally our market is tracking market conditions that we see in the downtown Boston neighborhoods. Moderately increasing prices, lower inventory levels and fewer days on market. Demand generally is outpacing supply. Translate this dynamic to a second home market and while demand is high, urgency is much lower than in those urban neighborhoods.
Condo sales are up and they are selling at slightly higher prices. Sales of more expensive single family homes are slower but prices remain even year over year – and it seems there is never enough inventory to satisfy demand in this category.
We have segmented the market into four categories for analysis, the entry-level, the mid market, the luxury market and the $1M plus market.
The entry level($150K to $399K) is the 2nd busiest market category in Provincetown. Last year 66 properties sold representing 33% of the total. Today there are 25 properties on the market representing 21% of all properties available. Below are 3 favorites.
The entry level is always popular. As you can see above there is quite an assortment of properties available – from charming West End studios at 3 Bradford Street, to an artists cottage at 5 Arch Street, to a West End condo in a complex with its own heated swimming pool. More properties will certainly become available in the next few months and we expect continuing high demand.
The mid market ($400K to $750K) is the most popular category, accounting for 45% of all sales in 2014. Today there are 40 properties on the market in this category, including 31 condos and 9 single family homes representing 35% of available inventory. Below are three favorites.
This is the category where many buyers want to be. A two bedroom and two bath condo in the West End or East End is on everyones’ wish list. There is a lot of variety – from a standalone condo at 3 Browne Street with one bedroom and two baths, to a charming three bedroom single family house in the East End at 19 Bangs Street, to a renovated two bedroom condo at 42 Franklin Street. In this category demand generally outpaces supply, and with only 5 months of inventory on the market expect competition when you do buy and be ready to act if you see the perfect property.
The luxury market ($750K to $1M) is a highly visible and closely watched category here in Provincetown as it represents the growing bridge between the mid market and the $1M+ market. This category accounted for 27 sales last year representing 13% of total sales. There are currently only 18 properties available for sale. Realtors are always lamenting the lack of inventory in this price point as it limits buyer choice. Below are three of our favorites.
As you might expect this is a category usually full of choices but currently there are only 6 condos and 12 single family properties available. These inlcude the three pictured above: a three bedroom newly renovated top floor condo; a spacious arts and crafts style freestanding condo in the East End; and a charming two bedroom single family bungalow on Brewster Street – Watch for a spring inventory surge in this category.
The $1M+ market. This super luxury market represented 9% of all sales in 2014. Interestingly enough there are 33 properties on the market, the second highest of any category at 29% of total inventory. As you can imagine these properties tend to stay on the market a bit longer and absorption is quite a bit slower than other segments. Three of our favorites are below.
There is a broad assortment of styles, locations and pricing in this category, from a new construction freestanding condo high on a hill in the East End, to a traditional Provincetown Captains house on Dyer Street to the most palatial home in the far West End, a 6,000 square foot totally renovated masterpiece on Creek Round HIll Road. These homes represent the best of Cape End living.
Hopefully this market preview has provided some interesting context and helpful information. We will keep you up to date as the spring market develops. Please let us know if you have any questions or would like more information.
The blizzards howling, the wind chill is below zero – but that didn’t stop two gorgeous $1M + homes from closing in early February. The pictures below certainly help take the chill away!
20 Bayberry Avenue is a very nicely sited single family home in the far West End. It has 3 bedrooms and 4 1/2 baths with 2,750 square feet. It sold for $1.175M with an asking price of $1.225M.
MLS COPY: Privately located in Provincetown’s West End, this exquisitely maintained Contemporary Cape was fully renovated in 2005/6. There are 3 BRs and 4.5 BAs on three well planned floors. The entry level has a spectacular foyer, home office and 3 BR’s, each w/ custom marble BA’s, glass enclosed showers and master has a soaking tub. The upper level reveals a stunning great room with vaulted ceilings, mahogany and glass deck, large windows, fireplace with floor to ceiling travertine marble, 1/2 bath, pantry and a chef’s kitchen equipped with a Sub Zero refrigerator, 2 Bosch dishwashers, Thermador cooktop and wall ovens. The lower level media room is wired for surround sound, has a full bath, wet bar, wine fridge, laundry and sliders to a blue stone patio w/grill. Interior just painted. Lovely landscaped yard. Owner occupied, never rented.
3 Harbour Drive is a beautiful bay front home with 3 bedrooms and 4 1/.2 baths and 3,363 square feet. It sold for $1.5M with an asking price of $1.595M.
MLS COPY: Gorgeous Home with spectacular bay views. Constructed with both aesthetics and safety in mind. One of a few homes whose frame meets latest hurricane building codes. Master suite and extra large deck. Main level is open floor plan with five sliding glass doors and a beautiful deck which runs full length of house. Washer and dryer and fabulous gas fireplace on main floor. Lower level sitting/TV area, wet bar and two enormous bedrooms, each with 12 foot ceilings, en-suite bathroom and sliders to patio. Lower level radiant tile floor with underlying water resistant foundation. Widow’s walk.Two car garage with studio,1/2 bath and deck. Large cedar shed. Deeded beach rights to seemingly endless sand bar at low tide. Title V septic for 5 bedrooms room for expansion.
Snow Snow and more snow…but that didnt slow down the Provincetown real estate market in January.
Twelve condos sold in January, most sold in the popular mid market price range of $500K to $800K. Six of them are pictured below.
18 Standish Street #A, 2 bed/1 bath, 636 sf, sold for $380,00012 Conwell Street #A, 3 bed/3 bath, 1,400 sf, sold for $586K480 Commercial St. #2, 3 bed/2 bath, 1,225 sf, sold for $625K
57 W. Vine Street #B, 2 bed/3 bath, 1,300 sf, sold for $692K19 Tremont Street # 3, 2 bed/3 bath, 1,146 sf, sold for $786K555 Commercial Street #D, 2 beds/3 baths, 1,300 sf, sold for $1.3M
One single family property sold. 160 Bradford Street is a 6 bedroom 6 bath B&B, single family home with 2,493 square feet. It sold for $980K.
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.
Time to make up a bunch of awards for the best, worst and most absurd things that happened in Cape & Islands real estate, architecture and neighborhoods. Here now, your 2014 Curbed Awards.
It’s time to squeeze into Cape Cod’s tiniest listings of 2014. From a wicked wee 162-square-feet to a rather roomy 296-square-feet, here are 10 microhomes that will no doubt cause a shudder amongst claustrophobics, micro-living haters and/or McMansion lovers.
Currently a lovely little cottage, this Chatham “investment property”has “growth opportunity” to add a two-bedroom rental. The 288-square-footer hit the market asking $299,000 and is now hoping for $274,000.
Water views, access to a private beach on Cape Cod Bay and 272-sq.-ft.were looking for $199,000 in Truro.
Breakfast in bed is available in this wicked tiny, as in 252-sq-ft., West Yarmouth cottage condo for $79,900.
Behold, beachy micro-living overlooking Cape Cod Bay. This adorable250-sq.-ft. cottage condo at Truro’s Sutton Place was asking $299,000
Located next to Truro Vineyards (!!), this 234-sq.-ft. studio condo – with the smallest kitchen sink ever – hit the market in early May for $99,000 and by the end of the month, had sold for $92,000. Cheers!
When we wrote about this Commercial Street condo back in March, the198-square-footer had been pricechopped down to $219,900. By June, a buyer had squeezed into the place for $196,000.
Built in 1900, this “sweet attached cottage, known as Cormorant offers a piece of increasingly rare old Provincetown charm.” The asking price for the 186-square-footer is $245,000.
This 182-sq.-ft. West Yarmouth cottage lacks a full bathroom, but at least there’s an outdoor shower with hot and cold. Asking price is now$89,000.
Finally, to the tiniest cottage for sale on Cape Cod. The wee West Yarmouth abode, all 162-sq.-ft., is yours for $69,900.
…and I will add one of our charming listings in Provincetown to the list.
3 Bradford Street #1 in Provincetown being marketed at $249K, and #2 is available for $229K. Right in the middle of the desirable West End 1/2 block to Victors Restaurant and a 5 minute walk to the beaches and to the center of town. These condos are in a small 5 unit association and each has exclusive use outside patios and gardens, and parking. Each condo is 278 square feet big!
20 Montello Street is a classic three bedroom three bathroom property with a freestanding cottage with 1,558 sf . It sold for $705K and had been marketed at $759K.
MLS COPY: This classic West End single family home, with separate freestanding cottage, is sited on a quiet side street and minutes to Commercial Street. Main level consists of living room with woodstove, large kitchen, dining area, and full bath. There are front and back staircases taking you to the two, second level bedrooms and bath with walk-in shower. There is also a large, cathedral ceiling sitting / office area on this level. Home has front and side decks, small side yard and parking for two cars. New windows recently installed in main house. Cottage has full kitchen, bath with walk-in shower, living area and sleeping loft, with propane heat and electric hot water. This is an in-town home waiting for your renovation vision and personal touches
664 R Commercial Street #3 is a 3 bedroom, 4 bathroom stand alone home deeded as a condo with 1,560 square feet. Sited on a hilltop in the East End the views from this beautifully designed reverse floor plan home are gorgeous. There will be two other condos built on the site. Residence #3 is being marketed for $1.250M.
MLS COPY: Premier hilltop water view location off Commercial Street in the East End. New construction single family Cape with classic Nantucket dormer on the front and full dormer facing the harbor views. Upside down floor plan with great room on second floor. Open plan high end kitchen with center island, dining and living area open on to large upper deck to drink in the views. A flex room that can be used as and extension of the living area or or home office or third bedroom with ensuite bath completes the upper level. First floor features two master bedrooms with sitting area and ensuite baths. Both bedrooms open onto decks and there are some waterviews even from the ground level. Full basement. Red oak floors throughout. High end Kohler baths. FHW/propane heat, central AC. 2 parking spaces + guest parking.
28 Nickerson St is a gorgeous newer construction single family house in the West End. It has 3 bedrooms and 3 baths with 1,705 sf and is being marketed for $1.459M.
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.
This wonderful home is in the West End north of Bradford Street in the charming neighborhood bordered by Franklin Street and West Vine Street.
