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general info

Listing Of The Week 154 Commercial Street

West End two bedroom one bath condo at 154 Commercial Street #3,  975 square feet with an asking price of $629K. This condo has a great location on the corner of Atlantic Avenue and Commercial Street.

 

154 Com

 

 

 

 

 

 

 

 

 

MLS COPY: Top floor 2 bedroom home with water views and access to Cape Cod Bay across the street. Located in the heart of the West End this bright renovated home has an open living area, large windows to take advantage of the views, wide plank pine floors and kitchen with stainless appliances, black granite counters and cherry cabinetry. In addition to the two bedrooms, there is a large loft space/office above. The bath has a green marble mosaic floor and subway tile surround tub with glass doors. Laundry, central AC, 2 car parking, sunny private deck and an exclusive yard area complete the offering. There is a low condo fee and stable association. New roof in 2013. Weekly rentals and pets for owners. This is a rare opportunity to own a renovated top floor, 2 bedroom home with water views, 2 car parking in the heart of the West End of Provincetown.

 

View all properties at Beachfront-Realty.com.

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general info style

Provincetown Listing Of The Week – 153 Commercial Street

Waterfront condo – 153 Commercial Street #6 , has three bedrooms, 3.5 baths and 1,142 square feet with an asking price of $1.749M.

 

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MLS COPY: It doesn’t get any better than this! Located beachfront in the heart of the West End, this 3BR/2.5BA free standing condo lives like a single family, and is the one you’ve been waiting for. This immaculate unit received a gut renovation in 2008 and was refinished in a contemporary style, using the highest quality materials. You’ll enjoy views from every room of this house, and from any of the 3 decks. The open floor plan living space includes a lovely kitchen, dining area, and living room with panoramic views. In unit laundry, gleaming blond pine plank floors, and air conditioning throughout. Direct beach access, weekly rentals permitted, pets for owners, and parking for one small to medium sized car. Very strong rental history. 6 unit association, professionally managed.

 

View all properties for sale at Beachfront-Realty.com.

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analytics general info

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.

 

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analytics general info

What $629K Gets You On The Cape

 

Another great Curbed Comparisons from Jazmine –

 

CURBED COMPARISONS

What $629,000 Buys You on Cape Cod Right Now

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, Barnstable listings for around $629,000.

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[154 Commercial Street, Unit 3, Provincetown via Zillow]

Here now, eight Cape Cod properties asking around$629,000 – year round, single-families, an old-meets-new condo, views of Cape Cod Bay, fireplaces galore, perpetually pricechopped, in need of TLC, in contract, bulldozer bait, recently renovated, ready to rent, and move-in-ready – with a little something for everyone.

EAST FALMOUTH
Behold, waterfront bulldozer bait with rather amusing brokerbabble for $629K: “There is a perfectly good house on this land, but will need to have a new septic system due to the present one being too close to the water, and a corner of the dwelling is in a flood zone. So the potential for tearing down the house and building just a smidge back opens the prospects of this property to limitless bounds (other than the ones set by the state and town bylaws).”
NEW SEABURY
Unit 14 is an end unit townhome “in a very private setting located in the village known as SeaQuarters!” The 2BR, 3.5BA features a first floor master, gas fireplace, three-season porch, a finished lower level, and the community pool “just steps away.” Yours for $629,900.
CENTERVILLE
This updated classic Colonial on .46 acres was built in 1994 and features 5BR, 2.5BA in 2,696-sq.-ft. The listing hit the market in early February for $629,000 and was in contract by the end of the month.
HARWICH
“Great Value!!!” The excited brokerbabble aside, this updated 3BR, 3BA on .92 acres features a first floor master, a hot tub room (insert time machine joke here) and a bonus room over the two-car garage. Asking price is $629,000.
ORLEANS
Built in 1800, this 4BR, 2.5BA “has been fabulously restored and lovingly and meticulously maintained.” In addition to the 2,072-square-footer, there’s a barn and shed on the 1.04 acre lot. First listed in September for $639K, a December chop brought the ask down to $629K.
EASTHAM
First listed in March 2013 for $699K, this 3BD, 2BA upside-down Cape “across from the waters edge on beautiful Herring Pond” is now hoping for $629K.
TRURO
Here’s yet another in contract abode with a $629K price tag. This contemporary Cape with 3BR, 2BA sits on a tricked-out 1.13 acres with an “in-ground, heated, salt water pool with waterfall, a large hot tub, an outdoor shower and a large storage shed.”
PROVINCETOWN
Finally, to PTown. This 2BR, 1BA newly listed West End condo features water views, access to Cape Cod Bay just across the street and nice mix of 1890-meets-2015 in 975-sq.-ft. Asking price is $629,000.
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analytics general info

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

 

Categories
analytics

Provincetown – Two $1M Plus Sales In February

 

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.

 

20 B 1

 

 

 

 

 

 

 

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.

 

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20 B 3

20 B 2

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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.

 

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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.

 

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View all properties available on Beachfront-Realty.com.

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trends

January Sales Steady – Cape Cod Times

 January performance in line with previous year despite blizzard

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

 

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

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

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analytics general info

Provincetown Sale Of The Week

Three bedrooms and three baths freestanding condo.

12 Conwell Street #A  recently sold for $568K. It is a three bedroom three bathroom freestanding condo with 1,364 square feet. Conwell Street is in the center of town, and the condo is 1 1/2 blocks to the bay.

 

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MLS COPY: Stand alone condo that lives like a single family home. Dramatic reverse floor plan has entertainment size living room with hardwood floors vaulted ceilings and a wall of windows with views to the Provincetown Monument. Chefs kitchen with 6 burner gas stove, large granite island. Storage area/pantry and a powder room directly off the kitchen. Large private deck with Monument views. All 3 bedrooms have great closets and multiple window exposures. En suite master bath as well as a built in office nook. Second full bath and a large storage/laundry/mud room on the bedroom level. Central A/C, and quality window treatments throughout. Fenced front yard and garden. 2 Parking spaces. Lives large and fun. 1 1/2 blocks to bay beaches, steps to Farland and downtown. Great rental income.

 

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See all available properties at Beachfront-Realty.com.

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.