Tag: Provincetown condominiums

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Best Time To Buy Vacation Homes

“Best timing” differs in all locales but the late summer and fall market is the busiest time on the Cape to buy or sell a home. Good post by Julie from Boston.com  below.
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By Julie Xie
Boston.com Staff

Sun dresses and beach towels are on sale at the mall. So are vacation homes on the market.

Turns out, September and October are great months to go vacation home hunting in New England because prices are dropping. It makes sense — sellers want to get properties off their hands because they don’t want to maintain them through the winter.

Doug Reece, who works as a realtor for Martha’s Vineyard at RE/MAX, recently worked with a seller who dropped the price of his house from $900,000 to $699,000.

“As a buyer, you’ve got to be ready to hop in the car and get here on short notice when those things happen. Or else someone else will,” he said.

While it’s hard to put exact numbers on it, Kevin Austin, from Cape Cod Oceanview Realty, said people tend to drop their prices around 5 percent just to get people to come look at the house and stimulate some activity.

“If people feel they can get a house for cheaper, they’ll usually wait until September and October to see if the price will drop,” said Austin, who specializes in the Orleans area of Cape Cod.

The trend is expected to continue until the end of the calendar year. By the time January and February roll around, many sellers figure that if they’ve already held a property for that long, they might as well hold on to it for another season.

Early spring is another busy season for New England vacation homes, as buyers want to close on a property and use it for the summer.

Nationally, the best times to buy vacation home differ by region and climate, but in general there has been a 30-percent surge in vacation homes in 2013, according to the National Association of Realtors.

And Lawrence Yun, NAR chief economist, expects this upward swing to continue in 2014. A nearing-retirement baby boomer population and an improving stock market are likely to give rise in vacation home purchases.

Bottom line: Act fast and get yourself to the Cape.

 

 

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S&P Case Shiller Composite: Prices Up 9.3%

Growth continues to cool

20-city index shows yearly price growth dropped to single digits in May

Teke WigginStaff Writer INMAN NEWS

Yearly growth in U.S. home prices continued to slow in May, but still remained well above average.

The S&P/Case Shiller 20-City Composite Index showed prices rising 9.3 percent year over year in May, down from 10.8 percent in April. Annual price gains slowed in May for all cities tracked by the index besides Charlotte and Tampa.

Source: S&P Dow Jones Indices and CoreLogic
Source: S&P Dow Jones Indices and CoreLogic
Still, prices climbed 1.1 percent month over month in May, with all 20 cities posting monthly increases for the second straight month.

Tampa registered the highest monthly price gain (1.8 percent), followed by San Francisco (1.6 percent) and Chicago (1.5 percent). Phoenix and San Diego were the only cities to show monthly increases of less than 1 percent in May, with gains of 0.4 percent and 0.5 percent, respectively.

The picture changes when adjusting for seasonal factors.

After factoring in the spring’s typical influence on home prices, prices decreased 0.3 percent month over month in May, with only six out of 20 cities showing gains.

 

Home to seven of the top eight cities showing the most annual price growth, the Sun Belt continued to lead price gains.

Despite seeing their annual price growth decrease by 2 to 3 percentage points, Las Vegas (16.9 percent) and San Francisco (15.4 percent) still posted the largest annual price increases.

The other cities that showed double-digit annual gains were: Miami (13.2 percent), San Diego (12.4 percent), Los Angeles (12.3 percent), Detroit (11.9 percent), Atlanta (11.2 percent), Tampa (10.2 percent) and Portland (10 percent).

Expanding home inventory has helped cool home prices in recent months. Economists generally view the trend as favorable because it will keep prices from rising too quickly, which hurts affordability and reduces buyers’ options.

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Provincetown Listing Of The Week

8 Seashore Park Drive #8 is a 2 bedroom, 2 bath 880 square foot condo in the Race Point Road neighborhood. This condo represents the best of Provincetown’s year round and vacation housing stock. Attractive, well maintained and located in one of the most comfortable and desirable year round developments, this end unit condo is a terrific value with a listing price of  $399K.

8 Seashore Park Dr #8

 

 

 

 

 

 

 

 

MLS COPY: This is one of the nicest units we have seen in the Race Point Road neighborhood. Set up a slight hill with excellent solar exposure this townhouse has been constantly upgraded over the years. Hardwood floors throughout 1st and second floor. New kitchen and bath. Two good sized bedrooms; the master will take a king and the other a queen. Wonderful wood burning brick fireplace is the centerpiece of the open plan great room. Full finished basement with 2 more rooms and laundry. Basement is approximately 440 Sq. Ft. in addition to 880 Sq. Ft. on 1st and 2nd floor. Efficient LP gas heat and cooking. Fenced yard with deck and garden shed. Two parking spaces. Pets okay for owners. 30 day minimum for rentals.

 

8 SPD3

8 SPD 2

8 SPD 6

8 SPD 5

 

 

 

 

 

 

Please call with any questions you might have or to view 8 Seashore Park Drive #8.

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The Goode and Farmer Report July 2014

Provincetown, Truro and Wellfleet Real Estate market 2Q2014 Figures 

Condominium prices continue to rise and single-family properties remain scarce.

 

Year-to-date sales through the 2nd quarter in Provincetown were strong with condos leading the way in the number of sales and price increases. Winter weather kept many away in the first quarter, but as always, spring does finally come and sales increased substantially in the second quarter.

The average sale price of condos sold in Provincetown increased 18% to $459K from $390K last year, and the number of sales recorded in MLS were 18% higher than last year at 59. The silver lining in the first half sales figures are the non-MLS recorded sales of 13 condos that closed at Seashore Point* with an average sales price of $405K and a total sales volume of $5.27M. When added to the MLS totals, YTD sales show huge increases of 44% to 72 sales with an increase in sales volume of 66% to $32.4M. *Seashore Point sales represent the second phase of the over-55 facility located on Alden Street in the center of town.

The average price of single-family properties sold year-to-date is $903K – even with last year’s $905K. There were 16 single-family sales which is a decrease from last year’s 22. Total sales volume was $14.5M – down from $19.9M last year. The decrease is partially because of a lack of new inventory in the single-family market particularly in the desirable West End neighborhoods of Provincetown.

The $1M Plus market was slower with four sales and $5.9M volume compared to nine sales last year with a volume of $12.9M.

As of July 15th there were 109 condos available with an average asking price of $471K and an average price per square foot of $455. There are 49 single-family properties on the market with an average price of $1.459M and an average price per square foot of $565K. Average days on market for condos is 184 and single family’s 246. While DOM’s aren’t nearly as important an indicator in a second home market, it is always interesting to compare.

The broad range of condo inventory is creating increased momentum going to the summer/fall sales season – as usual, Provincetown leads the way on the Cape with higher sales and prices.

 

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Other towns on the Outer Cape did relatively well too.

The average sales price for single-family properties in Truro is up an impressive 42% to $866K from $607K in 2Q2013, but the number of sales was down to 19 sales from 26 sales last year. Even with fewer sales, volume was up 4% to $16.5M. The Truro market consists mostly of single-family homes.

Wellfleet turned in a solid performance as the number of sales increased 25% to 40 from 32 for the same quarter in 2013. The average sales price of single-family properties sold was even with last year at $559K. Wellfleet remains a predominantly a single-family sales market too.

As of July 15 there were 80 single-family homes on the market in Truro with a median price of $752K. In Wellfleet there were 60 single family-homes available with a median price of $634K.

Positive buyer and seller attitudes coupled with a continuation of relatively low mortgage rates and an improving economy bode well for 2014 being a great year to jump into the market.

 

Truro chart

 

 

 

 

 

 

 

 

 

 

 

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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Sale Of The Week

51 Harry Kemp Way #1

51 HKW 1

51 Harry Kemp Way #1 sold for $610K. This condo in a 2 unit condo association. It is a terrific example of the mid market here in Provincetown. Just like the MLS Copy says…it does feel like a single family house and has wonderful porches and gardens. It has 3 bedrooms and 2 baths and 2,331 square feet along with a 1 car garage. It had been marketed for $625K.

 

 

 

51 HKW 2

51 HKW5

51 HKW 3

51 HKW4

 

 

 

 

 

MLS COPY: Gardener’s delight. Three spacious floors of living lend this townhouse condominium the feel of a single family home. From the ample farmer’s porch you enter an open-plan living room, kitchen and dining area with hardwood floors throughout and a gas log fireplace. A full bath, newly upgraded, completes this floor. The second floor has two bedrooms and a second full, newly tiled bath. The third floor bedroom can also serve as den or home office. Beautifully maintained, the home also has superlative outdoor space: three decks,and a huge beautifully landscaped yard. Amenities include a basement, a garage, a laundry and central air conditioning, and parking for 3 cars. All 5-10 minutes’ walk from shopping, restaurants, galleries and the harbor. Weekly rentals and pets allowed.

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3 Bedrooms And Beach In The East End – 480 Commercial Street

480 Commercial Street #2 is a terrific East End home – set back from the street in the Gallery district this three bedroom 2 bath 1,225 square foot condo is a very comfortable year round home, vacation home or with its incredible rental history a solid investment property. It is being marketed for $680,000.

 

480C front garden

 

 

 

 

 

 

 

Located in the heart of the Gallery District yet set back from the street, this meticulously maintained top floor condominium offers water views from the charming bay front window, three good sized bedrooms, two full baths and a dramatic vaulted and beamed ceiling in the living area. This antique home is close to the vibrant downtown, yet offers the peaceful allure of the East End. There is an exclusive use deck along with a common oversized front porch that overlooks the lush, manicured gardens. There is parking for two cars plus guest parking on a large lot and deeded beach rights directly across the street. With in unit washer/dryer, additional storage in the basement and a proven rental history ($30K+)this wonderful property is a comfortable and roomy vacation home or incredible investment property.

 

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480C living

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480C kitchen

 

 

 

 

 

 

One of the many benefits of this property is the deeded beach path to the beautiful bay beach right across the street from the condo.  What a pleasure to be able to walk a few steps to and be on a semi private East End beach. Pictured below is the driveway with direct access from the parking area (2 spaces for the condo) to the private deck and into the condo. The pockier of the front yard was taken from the bay window.  It is a very special condo with amenities galore – and it is my favorite listing of the week!

 

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Give a call with any questions.

 

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Mid Market In Provincetown – Crowded With Great Choices.

Mid Market Revisited – Crowded With Quality Listings

We are seeing a lot of condos on the market between $400K and $600K, a broad submarket of what we call the mid-market in Provincetown. Of the 113 condos on the market, 34 are priced between $400K and $600K, which is 27% of those available.  In 2013 27% or 34 of the 124 condos sold were sold in this price range. A truly balanced market.

Many buyers are looking are for just that – a 2 bed, 1.5 or 2 bath condo. Some of my favorites are featured below.

 

35 B #2 Court St, $419K, 1/1, 813 sf
35 B #2 Court St, $419K, 1/1, 813 sf
104A Bradford St #1, $429K, 1/2, 911 sf.
104A Bradford St #1, $429K, 1/2, 911 sf.
64 Franklin St #A, $429K, 1/1, 465 sf.
64 Franklin St #A, $429K, 1/1, 465 sf.

 

 

 

 

 

 

 

 

35 B Court Street is a centrally located value 1 plus bedroom; 104A Bradford Street is a downtown condo located right beneath the monument and has great ceiling height, tons of space and huge rental income; 64 Franklin Street is a brand new 1 bed/1 bath in a newly renovated complex in the West End.

 

4 Franklin St #5, $489K, 1/1, 692 sf.
4 Franklin St #5, $489K, 1/1, 692 sf.
11 Atlantic Ave #C, $509K, 2/1, 664 sf.
11 Atlantic Ave #C, $509K, 2/1, 664 sf.
8 Meadow Rd #2, $514K, 2/2, 954 sf
8 Meadow Rd #2, $514K, 2/2, 954 sf

 

 

 

 

 

 

 

 

4 Franklin Street is in the attic of a great old building at the curve of Commercial Street near Perry’s liquors; 11 Atlantic Ave has that incomparable Atlantic Street location – and a small pool; 8 Meadow Road is a perfect 2 bed/2 bath with separated suites in the West End.

30 Conant St #2, $525K, 2/1, 674 sf.
30 Conant St #2, $525K, 2/1, 674 sf.
12 Atwood Ave #B, $525K, 1/1, 696 sf.
12 Atwood Ave #B, $525K, 1/1, 696 sf
5 Cottage St #1, $567K, 1/2, 880 sf.
5 Cottage St #1, $567K, 1/2, 880 sf.

 

 

 

 

 

 

 

 

30 Conant Street is a top floor 2 bed in a newly renovated 2 unit building in the near West End; 12 Atwood Avenue is the consummate West End stand alone cottage located on a charming unpaved lane;  5 Cottage Street is a good size 1 bedroom condo with straight on water views of the bay.

 

17 Pearl St #3, $579K, 2/1, 801 sf.
17 Pearl St #3, $579K, 2/1, 801 sf.
596 Commercial St #1, $580K, 2/1, 1,085 sf.
596 Commercial St #1, $580K, 2/1, 1,085 sf.
46 Pleasant St #B, 2/2, 1,070 sf.
46 Pleasant St #B, 2/2, 1,070 sf.

 

 

 

 

 

 

 

 

17 Pearl Street is a cute top floor condo in the center of town; 596 Commercial Street is a lovely 2 bed 2 bath with water views; 46 Pleasant Street is the perfect blend of location, comfort and income potential.

These are an incredible assortment of properties in this price range, and with the huge amount of choices it looks like a perfect buying season for buyers.

 

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3 Bradford Street Studios

 

3 Bradford Street Studios One and Two

 

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Charming beach studios in the near West End provide an authentic Provincetown experience along with the best location in the West End. Originally an out building of Clarence Kacergis’s welding studio* the building has been transformed into a charming cottage condo community.

 

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Studio #1 and Studio #2 have been recently refreshed with all new interior and exterior trim paint,  bead board walls, new floors, great ceiling height with beautiful cape light from multiple light exposures.  An efficiently designed kitchen blends with the character of the living space.  Gas hot water and cooking. Studio One has a large and  private exclusive use garden patio, Studio Two has exclusive use garden/patio. Each has one parking space.

 

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3 Bradford is located within a 5 minute walk  to Commercial Street, ½ block to Victors restaurant, 2 blocks to the bay beach and a 5 minute walk to the moors and Herring Cove beach. Charm, convenience, history and community, and an unrivaled West End location are yours at 3 Bradford Street.

Studio One $259,000

Studio Two $219,000

*Provincetown Welding Works. The amazingly animate Kacergis family’s Provincetown Welding Works looks like a Tim Burton movie come to three-dimensional life. The works were established in 1946 by Clarence Kacergis (born 1916). “At first, he imagined a simple welding shop until several Provincetown artists and sculptors looked to stretch themselves and embrace metal as a heightened form of expression,” Gerry Desautels wrote.

 

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The Million Dollar Plus Market In Provincetown

In many markets the “high-end” or above $1M market is the most visible market. The same holds true in Provincetown. The big waterfront homes, the “trophy” properties, the East End and West End compounds all draw interest and gossip. But interestingly enough many of these homes are wonderful family and year round properties, very accessible and in fact well priced for the amount of house and value that you get.

There are currently 37 properties (single family and condos) on the market above $1M representing 23% of the available  inventory of 157 properties. In stark contrast only 13% of 2013 sales were for properties with selling prices over $1M. This means that properties take a little longer to sell in this price segment as there is more competition for buyers eyes and dollars. We need to remember that the second home market in a ny price point is not as fast paced and dramatic as the primary home market. For many this means a more relaxed buying and selling process.

See nine of my favorites below.  Click on the address for a link to the property detail on Beachfront Realty.com.

8 Kimberly Lane, $1.050M, 4/5, 1,946 sf.
8 Kimberly Lane, $1.050M, 4/5, 1,946 sf.
5 Heathers Way, $1.075M, 3/4, 2,933 sf.
5 Heathers Way, $1.075M, 3/4, 2,933 sf.
21 Bradford St Ext #17, $1.125M, 3/4, 2,160 sf condo.
21 Bradford St Ext #17, $1.125M, 3/4, 2,160 sf.

 

 

 

 

 

 

 

416 Commercial St. $1.295M, 4/2, 2,742 sf.
416 Commercial St. $1.295M, 4/2, 2,742 sf.
10 R Commercial St 1.795M, 4/4, 2,914 sf.
10 R Commercial St 1.795M, 4/4, 2,914 sf.
524 Commercial St. $1.725M, 3/4, 3000 sf.
524 Commercial St. $1.725M, 3/4, 3000 sf.

 

 

 

 

 

 

 

 

67 Commercial St #4, $1.899M, 2/2, 969 sf.
67 Commercial St #4, $1.899M, 2/2, 969 sf.
7 Telegraph Hill, $2.599M, 3/4, 3,736 sf.
7 Telegraph Hill, $2.599M, 3/4, 3,736 sf.
10 Harbour Drive, 5/6, 4,233 sf.
10 Harbour Drive, 5/6, 4,233 sf.

 

 

 

 

 

 

 

 

As you can see from the choices above these available properties represent all styles – traditional large Cape, Antique, modern – there are even 3 condominiums available in this price range.

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The Affordable Entry Level In Provincetown

Spring is finally here. Time for a spring market review.

There are some great properties on the market in Provincetown with more to come as the spring/summer market heats up. I’ll begin with a review of the affordable entry level market .

Affordable Entry Level

The affordable entry level market generally includes those properties priced from $100K to $400K and is loaded with surprising options and is a great way to enter the real estate market in town – either for your own vacation or year round use or as an investment/rental property.  Buyers are always surprised at what they can get in this segment of the market. Comfort, location, space and value!.  There are 59 properties on the market in this segment, all are condos except for 1 single family listing. These  represent 36% of available properties.  The average asking price is $306K and the average size of available properties in this segment is 607 square feet.  9 of my favorite are pictured below.  Just click on the address and you’ll see the full listing information on Beachfront-Realty.com.

104 Bradford St #8, 1/1, 163 sf, $199K
104 Bradford St #8, 1/1, 163 sf, $199K
22 Pearl St #4, $239K, 1/1, 231 sf.
22 Pearl St #4, $239K, 1/1, 231 sf.
353 Commercial St # 18, $$289K, 1/1/, 208 sf.
353 Commercial St # 18, $$289K, 1/1/, 208 sf.

 

 

 

 

 

 

 

3 Freeman St #5, $325K, 2/1, 700 sf.
3 Freeman St #5, $325K, 2/1, 700 sf.
495 Commercial St #19, $379K, 1/1, 549 sf.
495 Commercial St #19, $379K, 1/1, 549 sf.
4 Bayview Ave, $389K, 2/1, 512 sf.
4 Bayview Ave, $389K, 2/1, 512 sf.

 

 

 

 

 

 

 

 

4 Bradford Acres # G, $399K, 1/2, 813 sf.
4 Bradford Acres # G, $399K, 1/2, 813 sf.
10 Seashore Park #V, $399K, 2/3, 1,310 sf.
10 Seashore Park #V, $399K, 2/3, 1,310 sf.
104 Bradford St # 11, $399K, 1/1, 531 sf.
104 Bradford St # 11, $399K, 1/1, 531 sf.

 

 

 

 

 

 

 

 

Waterfront condos, charming mid town pied a ter’s, or spacious townhouses. The affordable entry level market in Provincetown is full of  property choices at very reasonable prices.