Tag: Provincetown new construction

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Provincetown Sale Of The Week – 10 Harbour Drive

 

WOW!  10 Harbour Drive  a five bedroom, six bathroom home with 4,233 square feet sold for $3.995M…and their beachfront is growing by accretion.

 

10 Harbour

 

 

 

 

 

 

 

MLS COPY: Experience beachfront living with unparalleled privacy at Provincetown’s newest waterfront community. This newly built spectacular home at Bay Harbour is the largest waterfront home for sale in Provincetown, with over 4000 SF, 5 BR’s and 6 BA’s. Custom chef’s kitchen with WOLF & Subzero appliances. The view pours into the vast living room through the floor to ceiling wrap-around windows. A sumptuous master suite also faces the water & has a private deck,gas FP, WIC,& large bathroom with jacuzzi, steam shower. All bedrooms & the den have ensuite baths. Security, AC, lush grounds, basement, and 2 car garage. While most oceanfront properties are experiencing severe erosion, Bay Harbour, through certified surveys, has experienced over 125 feet of beach ACCRETION seaward since 1976. The property’s approved for a 12×27 ft pool with a jacuzzi.

 

View all properties for sale Beachfront-Realty.com.

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Provincetown- Spring Buyer Preview

 

Provincetown – Spring Buyer Preview

 

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.

 

3 Bradford Street #1, studio, 278 sf, $248K
3 Bradford Street #1, studio, 278 sf, $249K
15 Cottage St #6, 2 beds, 2 baths, 579 sf, $374K
15 Cottage St #6, 2 beds, 2 baths, 579 sf, $374K
163 Bradford St #3, 1 bed/2 baths, 506 sf, $399K.
163 Bradford St #3, 1 bed/2 bath, 506 sf, $399K.

 

 

 

 

 

 

 

 

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.

 

3 Brown Street #A, 1 bed/1 bath, 700 sf, $475K.
3 Brown Street #A, condo, 1 bed/1 bath, 700 sf, $475K.
19 Bangs Street, Single Family, 3 bed/1 bath, 1,020 sf, $659K.
19 Bangs Street, SF, 3 bed/1 bath, 1,020 sf, $659K.
4 Willow Drive #8, 2 beds/2.5 baths, 1,065 sf, $699K
4 Willow Drive #8, 2 beds/2.5 baths, 1,065 sf, $699K

 

 

 

 

 

 

 

 

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.

 

23 Winthrop St #3, condo, 3 beds, 2 baths, 1,371 sf, $799K.
23 Winthrop St #3, condo, 3 beds, 2 baths, 1,371 sf, $799K.
25 Miller Hill Road, condo, 2 beds, 3 baths, 1,600 sf, $929k.
25 Miller Hill Road, condo, 2 beds, 3 baths, 1,600 sf, $929k.
18 Brewster Street, single family, 2 beds, 3 baths, 1,374 sf, $949K
18 Brewster St,  SF, 2 beds/ 3 baths, 1,374 sf, $949K

 

 

 

 

 

 

 

 

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.

 

664 R Commercial St, condo, 3 beds, 4 baths, 1,560 sf, $1.10M
664 R Commercial St, condo, 3 beds, 4 baths, 1,560 sf, $1.10M
5 Dyer St, single family, 4 beds/3 baths, 2,252 sf, $1.495M
5 Dyer St, Single Family, 4 beds/3 baths, 2,252 sf,  $1.495M
9 Creek Round Hill, 4 beds, 4 baths, 6,346 sf, $2.95M
9 Creek Round Hill, SF, 4 beds, 4 baths, 6,346 sf, $2.95M

 

 

 

 

 

 

 

 

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.

Beachfront-Realty.com

 

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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

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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.

 

truro chartjpeg

 

 

 

 

 

 

 

 

 

 

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.

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Provincetown Listing Of The Week

 

19 Bangs Street is an charming  3 bedroom, 1 bath  single family house in the East End. It has 1,020 square feet with room for expansion. It is being marketed at $699K.

 

19 Bangs 1

 

 

MLS COPY: Charming home with potential for expansion located in the gallery district of Provincetown. There are three bedrooms, country style kitchen,living room and bedroom on first floor. There are two additional bedrooms on the second floor, garden area, parking, and a short stroll to town! Great location, great price, won’t last long!

 

19 Bangs 2

19 Bangs 3

19 Bangs 5

19 Bangs 4

 

 

 

 

 

 

See all available properties at Beachfront-Realty.com.

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architecture general info

Provincetown Listing Of The Week

New construction hilltop home.

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.

 

664 1

 

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.

 

664 4

664 6

664 3

664 7

 

 

 

 

 

 

See all properties that are available at Beachfront-Realty.com. 

 

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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.

 

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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.

7 Oppen 1

 

 

 

 

 

 

 

 

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.

 

7 Oppen 5

7 Oppen 4

7 Oppen 6

7 Oppen 2

 

 

 

 

 

 

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

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Dream House Listing Of The Week – Provincetown

9 Creek Round Hill Road is a 6,100 square foot 4 bedroom 4 bath home perched above the Moors on Creek Round Hill Road. It is being marketed for $3.150M.

 

creek 4

 

 

 

 

 

 

 

MLS COPY: Breathtaking views, impeccable grounds & a care-free resort-like atmosphere captures the essence of this newly renovated Provincetown contemporary with a mid-century flair. This 6000+ SF home offers a rare retreat w/state of the art amenities. The 45 foot living, dining and gourmet kitchen area is dramatic with a wall of windows looking out to the gorgeous views of Cape Cod Bay, Wood End Light & the ocean. Everything is brand new: systems, windows, roof, exterior cedar shingles, landscaping, irrigation, security, pool, decking, generator & more. The master suite & guest suites upstairs take full advantage of the views, & both have decks & en-suite baths. An additional guest suite on the garden level enjoys its own entrance and living area. Plenty of recreation space, with a game room, screening room, and stunning salt water heated pool.

 

Creek 1

Creek 3

creek 2

creek 5

 

 

 

 

 

 

Certainly the jewel of Creek Round Hill Road, this home has been renovated beautifully and provides the best in Provincetown living.

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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.

 

ptown chart

 

 

 

 

 

 

 

 

 

 

 

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!