Cape Cod Market Update First Quarter 2014 Sotheby’s International Realty Cape Cod Brokerages Osterville | West Falmouth oldCape Sotheby’s International Realty Brewster | Harwich Port | Orleans Atlantic Bay Sotheby’s International Realty Provincetown sothebysrealty.com
Table of Contents The Upper Cape
3
The Mid Cape
11
The Lower Cape
19
The Outer Cape
27
FROM THE COVER | Web: 0840623 Statistical information contained in this report is from the Cape Cod and Islands MLS,
Osterville
851 Main Street | Osterville, MA 02655 508.428.9115 | 800.851.9115
West Falmouth
550 West Falmouth Hwy | West Falmouth, MA 02574 508.548.2522 | 866.508.2522
The arm-shaped peninsula known as Cape Cod rests in the southeast corner of Massachusetts, extending east into the Atlantic Ocean. Its 559.6 miles of coastal shoreline are accented by bays, harbors, beaches and marshland settings of breath-taking natural beauty. Cape
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Cod incorporates all of Barnstable County, which comprises 15 towns:
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Bourne, Sandwich, Falmouth, Mashpee, Barnstable, Yarmouth, Dennis, Harwich, Brewster, Chatham, Orleans, Eastham, Wellfleet, Truro, and
oldCape Brewster
2404 Main Street | Brewster, MA 02631 508.896.5000 | 800.896.9008
Harwich Port
Provincetown. With waterfront to please all tastes, Cape Cod’s northern shoreline is formed by the tidal waters of Cape Cod Bay; south lies the warm waters of Nantucket Sound; easterly is the raw power of the Atlantic Ocean and across its landscape are over 365 kettle ponds formed by the glaciers thousands of years ago.
587 Route 28 | Harwich Port, MA 02646 508.432.6100 | 888.432.9220
Cape Cod’s location provides access to many activities both on the
Orleans
Stream, allows enjoyment for many months out of the year. For exam-
water and land, and its temperate climate, thanks to the nearby Gulf
6 Route 6A | Orleans, MA 02653 508.255.6000 | 800.255.0173
ple, located just off the shore of Provincetown to the northwest is the
oldcape.com
whale watching. And, many of the towns’ harbors provide deep-water
Each Office is Independently Owned and Operated.
access to sportfishing and world-class sailing. Additionally, Cape Cod
Stellwagen Bank National Marine Sanctuary, a renowned location for
has become a premier golf destination, with over 35 public and private
Atlantic Bay Provincetown
168 Commercial Street | Provincetown, MA 02657 508.487.2430 | atlanticbaysir.com Each Office is Independently Owned and Operated.
Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks used with permission. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. Real estate agents affiliated with Sotheby’s International Realty, Inc. are independent contractor sales associates and are not employees of Sotheby’s International Realty, Inc.
2
golf courses; many designed by today’s biggest golf course architects including Reese Jones, Geoffrey Cornish, Skip Wogan and Brian Silva. Let’s not forget the rich arts and cultural heritage on Cape Cod providing activities from orchestras and opera to galleries, museums and performing arts. When describing a location on Cape Cod, locals refer to four distinct regions: the Upper Cape is the region located closest to the mainland, the Mid Cape is located in the middle as you move east. Next comes the Lower Cape, located at the elbow of the arm and then as you progress further out into the Atlantic toward the tip of Cape Cod you have the Outer Cape.
sothebysrealty.com
The Upper Cape
Web: 0840666
Bourne, Falmouth Sandwich, Mashpee Comprised of the towns of Bourne, Falmouth, Sandwich and Mashpee, the Upper Cape is the portion of the peninsula that is closest to the mainland. Like the rest of Cape Cod each town has its own character and a rich and diverse history.
CAPE COD | The Upper Cape
3
Upper Cape Sales January - March 2014 2014
2013
UNDER $250,000
$250,000 - $499,999
$500,000 -$ 749,999
$750,000 - $999,999
$1,000,000 - $1,999,999
$2,000,000 - $3,999,999
$4,000,000 AND UP
0
20
40
60
80
100
120
140
# UNITS SOLD
Total Units Sold Upper Cape
2012
2013
under $250,000
80
53
$250,000 - $499,999
129
117
$500,000 -$ 749,999
29
18
$750,000 - $999,999
6
5
units. Bourne’s Single Family unit sales are down 25% and
$1,000,000 - $1,999,999
5
9
condominiums are down 38%.
$2,000,000 - $3,999,999
1
5
Falmouth Single Family units are down 6% and condominium
$4,000,000 and up
0
1
The number of units sold in the Upper Cape has decreased by 17% in 2014 as compared to 2013. Bourne has experienced a 73% increase in the average selling price of a single family unit and a 12% decrease in condominium
sales have decreased by 18%. Falmouth has seen a 31% increase in the average selling price of a single family home while there has been a reduction of 22% in condominiums. Sandwich’s Single Family unit sales have decreased by 24% and condominiums have declined by 60%. Sandwich’s average selling price of a single family has decreased by 15% while condominiums have increased by 80%. Single Family sales in Mashpee have stayed flat and condominiums declined by 32%. There has been a 42% increase in the average selling price of single family homes and a 24% increase in condominiums.
4
sothebysrealty.com
Web: 0402904
Bourne Home to the first trading center in America, the Aptucxet Trading Post, Average Sales Price
Bourne straddles the Cape Cod Canal, and is considered the gateway to Cape Cod. Bourne includes the villages of Buzzards Bay, Sagamore, Pocasset, Cataumet and a portion of the Massachusetts Military Reservation. Positioned as it is, Bourne provides an ideal spot for anyone who needs to commute to Boston, but also enjoys the relaxed lifestyle of Cape Cod. The miles of trails along the Cape Cod Canal are wonderful for bike riding, or just watching the boats as the travel through the canal. Bourne is also the home to the Massachusetts Maritime Academy.
Average Days on Market Average Sold/List Price Difference
uNITS sOLD SOLD Jan-Mar 2014
SOLD Jan-Mar 2013
SF
CONDO
2013
$345,404
$239,750
2014
$597,043
$211,000
% Change
73%
-12%
2013
160
158
2014
165
109
% Change
3%
-31%
2013
93%
97%
2014
93%
98%
% Change
-1%
1%
Inventory % Change 2013 to 2014
Current Inventory (04/02/14)
# Months of Inventory (04/02/14)
SF
Condo
SF
Condo
SF
Condo
SF
Condo
SF
Condo
under $250,000
9
5
6
4
-33%
-20%
13
8
7
6
$250,000 - $499,999
13
3
12
1
-8%
-67%
60
7
15
21
$500,000 -$ 749,999
6
0
0
0
-100%
0%
24
0
-
-
$750,000 - $999,999
0
0
0
0
0%
0%
9
0
-
-
$1,000,000 - $1,999,999
0
0
1
0
100%
0%
8
0
24
-
$2,000,000 - $3,999,999
0
0
2
0
100%
0%
6
0
9
-
$4,000,000 and up
0
0
0
0
0%
0%
1
0
-
-
TOTALS
28
8
21
5
-25%
-38%
121
15
17
9
CAPE COD | The Upper Cape
5
Web: 0840595
Falmouth Falmouth, one of Cape Cod’s oldest resort communities, is accented by wonderful restaurants and shopping along Main Street, a vibrant art and cultural community and includes the seaside village of Woods Hole, home of the world-renowned Woods Hole Oceanographic Institution. Located just across the Sound from Martha’s Vineyard, it is easy to catch a ferry to the island for a day trip.
Average Sales Price
Average Days on Market Average Sold/List Price Difference
uNITS sOLD SOLD Jan-Mar 2014
6
SOLD Jan-Mar 2013
SF
CONDO
2013
$354,615
$379,905
2014
$463,889
$298,167
% Change
31%
-22%
2013
165
192
2014
134
211
% Change
-19%
10%
2013
93%
98%
2014
93%
94%
% Change
0%
-4%
Inventory % Change 2013 to 2014
Current Inventory (04/02/14)
# Months of Inventory (04/02/14)
SF
Condo
SF
Condo
SF
Condo
SF
Condo
SF
Condo
under $250,000
30
2
16
3
-47%
50%
25
0
5
0
$250,000 - $499,999
37
8
42
5
14%
-38%
130
0
9
0
$500,000 -$ 749,999
11
1
10
1
-9%
0%
68
0
20
0
$750,000 - $999,999
3
0
4
0
33%
0%
45
0
34
-
$1,000,000 - $1,999,999
1
0
3
0
200%
0%
35
0
35
-
$2,000,000 - $3,999,999
0
0
2
0
100%
0%
25
0
38
-
$4,000,000 and up
0
0
0
0
0%
0%
5
0
-
-
TOTALS
82
11
77
9
-6%
-18%
333
0
13
0
sothebysrealty.com
Web: 0402800
Sandwich The oldest town on Cape Cod, Sandwich reflects its colonial heritage to this day. Within the village, many historic homes have been restored and repurposed as quaint B&Bs, restaurants or shops. There is also a wealth of historic sites and museums sprinkled throughout town. For the
Average Sales Price
Average Days on Market
outdoor enthusiast, Sandwich is home to beautiful nature trails and north-side beaches, great for long strolls.
Average Sold/List Price Difference
uNITS sOLD SOLD Jan-Mar 2014
SOLD Jan-Mar 2013
SF
CONDO
2013
$384,199
$99,400
2014
$326,171
$179,000
% Change
-15%
80%
2013
131
217
2014
177
14
% Change
35%
-94%
2013
95%
93%
2014
96%
95%
% Change
1%
3%
Inventory % Change 2013 to 2014
Current Inventory (04/02/14)
# Months of Inventory (04/02/14)
SF
Condo
SF
Condo
SF
Condo
SF
Condo
SF
Condo
under $250,000
11
5
8
2
-27%
-60%
7
10
3
15
$250,000 - $499,999
35
0
29
0
-17%
0%
113
9
12
-
$500,000 -$ 749,999
4
0
4
0
0%
0%
41
0
31
-
$750,000 - $999,999
3
0
0
0
-100%
0%
17
0
-
-
$1,000,000 - $1,999,999
1
0
0
0
-100%
0%
9
0
-
-
$2,000,000 - $3,999,999
0
0
0
0
0%
0%
1
0
-
-
$4,000,000 and up
0
0
0
0
0%
0%
0
0
-
-
TOTALS
54
5
41
2
-24%
-60%
188
19
14
29
CAPE COD | The Upper Cape
7
Web: 0840702
Mashpee The town of Mashpee maintains a strong connection to its Native American heritage. Purchased in 1660, by Richard Bourne, to be set aside for Native Americans, Mashpee Plantation was the first reservation in the United States. A large population of Wampanoag people still reside in
Average Sales Price
Average Days on Market
Mashpee today. In addition to Wampanoag culture and history, Mashpee is know for its shopping, restaurants, golfing and the New Seabury Resort. Mashpee includes the villages of New Seabury and Popponesset.
Average Sold/List Price Difference
uNITS sOLD
8
SOLD Jan-Mar 2014
SOLD Jan-Mar 2013
SF
CONDO
2013
$483,050
$262,698
2014
$686,737
$326,505
% Change
42%
24%
2013
178
217
2014
245
181
% Change
38%
-17%
2013
93%
96%
2014
88%
98%
% Change
-6%
2%
Inventory % Change 2013 to 2014
Current Inventory (04/02/14)
# Months of Inventory (04/02/14)
SF
Condo
SF
Condo
SF
Condo
SF
Condo
SF
Condo
under $250,000
6
12
7
7
17%
-42%
16
16
7
7
$250,000 - $499,999
18
15
16
12
-11%
-20%
60
59
11
15
$500,000 -$ 749,999
6
1
3
0
-50%
-100%
27
7
27
-
$750,000 - $999,999
0
0
1
0
100%
0%
26
2
78
-
$1,000,000 - $1,999,999
3
0
5
0
67%
0%
38
1
23
-
$2,000,000 - $3,999,999
1
0
1
0
0%
0%
20
0
60
-
$4,000,000 and up
0
0
1
0
100%
0%
3
0
9
-
TOTALS
34
28
34
19
0%
-32%
190
85
17
13
sothebysrealty.com
On the market
left to right from top to bottom:
in metropolitan markets San Francisco, CA | Web: 0086628 | $1,275,000 Houston, TX | Web: 1240117 | $1,750,000 Brooklyn, NY | Web: 0136749 | $1,699,000 in resort markets East Hampton, NY | Web: 0046175 | $1,895,000 Carmel, CA | Web: 0501348 | $1,395,000 Falmouth, MA | Web: 0840726 | $1,590,000 in foreign markets Thailand | Web: 2ZBJ7R | $1,080,580 Greece | Web: SMXWL9 | $1,931,567 Germany | Web: 9DLRQ8 | $1,655,629 sothebysrealty.com
CAPE COD | ON The MARKET
9
Auction & Exhibition Calendar 2014
16 29
NEW YORK APRIL A Modern Library: The Gordon Waldorf Collection John James Audubon: The Birds of America, The Viviparous Quadrupeds of North America The Inventive Eye: Photographs from a Private Collection Photographs Important Russian Works of Art, European Silver, and Vertu American Paintings, Drawings & Sculpture Magnificent Jewels
1 8 9 16 29 29 30
LONDON APRIL Made in Britain The Orientalist Sale Arts of the Islamic World Finest and Rarest Wines Furniture Collections Travel, Atlases, Maps & Natural History Old Master & British Paintings
1 1
2 8
SOTHEBY’S INTERNATIONAL REALTY AFFILIATES LLC. AN EQUAL OPPORTUNITY COMPANY. EQUAL HOUSING OPPORTUNITY. EACH OFFICE IS INDEPENDENTLY OWNED AND OPERATED.
© MMXIV SOTHEBY’S INTERNATIONAL REALTY AFFILIATES LLC. ALL RIGHTS RESERVED. SOTHEBY’S INTERNATIONAL REALTY® IS A REGISTERED TRADEMARK LICENSED TO
1
1
Shown Above Left: WILLARD LEROY METCALF (1858 – 1925) A SEASIDE PASTURE SIGNED W L METCALF (LOWER LEFT) OIL ON CANVAS PAINTED IN 1910. 26 BY 29 INCHES (66 BY 73.7 CM) AMERICAN PAINTINGS, DRAWINGS & SCULPTURE NEW YORK 16 APRIL 2014
We invite you to explore our real estate listings at sothebyshomes.com and view the worldwide auction schedule at sothebys.com.
10
PARIS APRIL Picasso and the Nude: Fifty Drawings from the Marina Picasso Collection
The Mid Cape
Web: 0402773
Barnstable, Yarmouth, Dennis Located in the middle of Cape Cod, along the bicep to continue the arm analogy, the mid Cape consists of the towns of Barnstable, Yarmouth and Dennis. Each of these towns is unique in that it extends the full way across Cape Cod from north to south, bisected only by the Cape’s three main highways of Route 6A, Route 6 and Route 28.
CAPE COD | The Mid Cape
11
Mid Cape Sales January - March 2014 2014
2013
UNDER $250,000
$250,000 - $499,999
$500,000 -$749,999
$750,000 - $999,999
$1,000,000 - $1,999,999
$2,000,000 - $3,999,999
$4,000,000 AND UP
0
20
40
60
80
100
120
140
160
# UNITS SOLD
Total Units Sold Mid Cape
2012
2013
under $250,000
141
115
$250,000 - $499,999
128
133
$500,000 -$ 749,999
26
19
$750,000 - $999,999
12
5
$1,000,000 - $1,999,999
8
11
both closed unit sales are down. 16% for single family units and
$2,000,000 - $3,999,999
1
2
7% for condominums.
$4,000,000 and up
1
2
Yarmouth single family units are down 21% however
The number of units sold in the Mid Cape has decreased by 9% in 2014 as compared to 2013. Barnstable’s average selling price in single family homes has increased 40%, while the average selling price of condominiums has decreased 4%. Over the same time frame in Barnstable,
condominiums are up 71%. Dennis single family units are up 18%, however condominums are down 31% for 2014 vs 2013.
12
sothebysrealty.com
Web: 0402911
Barnstable The town of Barnstable consists of seven villages and is the largest community both in land area and population on Cape Cod. Beaches are plentiful along both Cape Cod Bay to the north and Nantucket Sound to the south. It is also the center of county institutions such as the court system and Registry of Deeds as well as the the economic and commercial center of the Cape. Hyannis, Cape Cod’s most populous city, is often referred to as the Hub of the Cape, and is known for its shopping districts, many fine restaurants, and performing arts center. As the center of activity, it is also home to the Barnstable Municipal Airport and a port for
Average Sales Price
Average Days on Market Average Sold/List Price Difference
SF
CONDO
2013
$433,665
$242,413
2014
$607,621
$231,581
% Change
40%
-4%
2013
160
269
2014
135
377
% Change
-16%
40%
2013
91%
93%
2014
93%
95%
% Change
2%
2%
ferry service to Nantucket and Martha’s Vineyard. uNITS sOLD SOLD Jan-Mar 2014
SOLD Jan-Mar 2013
Inventory % Change 2013 to 2014
Current Inventory (04/02/14)
# Months of Inventory (04/02/14)
SF
Condo
SF
Condo
SF
Condo
SF
Condo
SF
Condo
under $250,000
52
9
28
7
-46%
-22%
30
21
3
9
$250,000 - $499,999
64
3
70
5
9%
67%
162
23
7
14
$500,000 -$ 749,999
16
2
11
1
-31%
-50%
82
12
22
36
$750,000 - $999,999
8
0
4
0
-50%
0%
44
0
33
-
$1,000,000 - $1,999,999
6
0
8
0
33%
0%
57
0
21
-
$2,000,000 - $3,999,999
1
0
2
0
100%
0%
34
0
51
-
$4,000,000 and up
1
0
2
0
100%
0%
27
0
41
-
148
14
125
13
-16%
-7%
436
56
10
13
TOTALS
CAPE COD | The Mid Cape
13
Web: 0402812
Yarmouth Yarmouth consists of the villages of Yarmouth Port, Bass River, Great Island, South Yarmouth, West Yarmouth and Yarmouth. With shorelines along both the north and the south side of the Cape, each of Yarmouth’s villages has its own distinct character. In Yarmouth Port on the north side, along historic Route 6A the quaint meandering road is highlighted by antique sea captains’ homes, antique shops, fine restaurants and historic spots. While, along the south shore the warm waters of Nantucket Sound lap at the shores of sandy beaches just minutes from Route 28 and its many attractions and restaurants.
Average Sales Price
Average Days on Market Average Sold/List Price Difference
uNITS sOLD SOLD Jan-Mar 2014
14
SOLD Jan-Mar 2013
SF
CONDO
2013
$281,245
$131,571
2014
$288,584
$185,813
% Change
3%
41%
2013
151
236
2014
121
151
% Change
-20%
-36%
2013
95%
93%
2014
96%
95%
% Change
1%
2%
Inventory % Change 2013 to 2014
Current Inventory (04/02/14)
# Months of Inventory (04/02/14)
SF
Condo
SF
Condo
SF
Condo
SF
Condo
SF
Condo
under $250,000
36
13
32
21
-11%
62%
38
31
4
4
$250,000 - $499,999
44
1
31
3
-30%
200%
131
14
13
14
$500,000 -$ 749,999
4
0
3
0
-25%
0%
28
3
28
-
$750,000 - $999,999
1
0
0
0
-100%
0%
21
2
-
-
$1,000,000 - $1,999,999
0
0
1
0
100%
0%
11
0
33
-
$2,000,000 - $3,999,999
0
0
0
0
0%
0%
8
0
-
-
$4,000,000 and up
0
0
0
0
0%
0%
2
0
-
-
TOTALS
85
14
67
24
-21%
71%
239
50
11
6
sothebysrealty.com
Web: 21401093
Dennis Another of Cape Cod’s historic treasures, Dennis offers a bit of everything for everyone. Along its north side, Dennis exudes historic charm, from living history museums such as the Josiah Dennis Manse to a landscape that meanders along Route 6A dotted with antique shops, historic homes and B&Bs. Its southern coastline features one of Cape Cod’s most visited sandy shores, West Dennis Beach, punctuated by cottage colonies and salt-air breezes as well as the lovely estates that reside along the fingers of Bass River, with deep water access to Nantucket Sound.
Average Sales Price
Average Days on Market Average Sold/List Price Difference
uNITS sOLD SOLD Jan-Mar 2014
SOLD Jan-Mar 2013
SF
CONDO
2013
$388,005
$109,697
2014
$358,010
$148,491
% Change
-8%
35%
2013
126
163
2014
167
130
% Change
33%
-20%
2013
92%
95%
2014
94%
94%
% Change
2%
-1%
Inventory % Change 2013 to 2014
Current Inventory (04/02/14)
# Months of Inventory (04/02/14)
SF
Condo
SF
Condo
SF
Condo
SF
Condo
SF
Condo
under $250,000
16
15
18
9
13%
-40%
32
39
5
13
$250,000 - $499,999
15
1
22
2
47%
100%
92
16
13
24
$500,000 -$ 749,999
4
0
4
0
0%
0%
46
4
35
-
$750,000 - $999,999
3
0
1
0
-67%
0%
22
2
66
-
$1,000,000 - $1,999,999
2
0
2
0
0%
0%
23
3
35
-
$2,000,000 - $3,999,999
0
0
0
0
0%
0%
5
0
-
-
$4,000,000 and up
0
0
0
0
0%
0%
1
0
-
-
40
16
47
11
18%
-31%
221
64
14
17
TOTALS
CAPE COD | The Mid Cape
15
On the market
left to right from top to bottom:
in metropolitan markets San Francisco, CA | Web: 0086256 | $6,750,000 Houston, TX | Web: 1230680 | $5,300,000 New York, NY | Web: 0018925 | $6,200,000 in resort markets Bridgehampton, NY | Web: 0037334 | $5,950,000 Big Sur, CA | Web: 0473646 | $5,500,000 Osterville, MA | Web: 0402787 | $4,295,000 in foreign markets Thailand | Web: SNBCEH | $5,500,000 GReece | Web: SMM7RT | $5,242,826 United Kingdom | Web: D9YHVX | $4,947,230 sothebysrealty.com
16
sothebysrealty.com
The Lower Cape
Web: 0402456
Brewster, Harwich, Chatham, Orleans, Eastham Quaint and quiet, the lower Cape is made up by the towns of Brewster, Harwich, Chatham, Orleans and Eastham. The Lower Cape also holds the distinction of being the gateway to the Cape Cod National Seashore, with miles of some of the best beaches in the world, including Coast Guard Beach in Eastham, which is consistently ranked as one of the top ten beaches worldwide.
CAPE COD | The Lower Cape
17
Lower Cape Sales January - March 2014 2014
2013
UNDER $250,000
$250,000 - $499,999
$500,000 - $749,999
$750,000 - $999,999
$1,000,000 - $1,999,999
$2,000,000 - $3,999,999
$4,000,000 AND UP
0
10
20
30
40
50
60
70
80
90
2012
2013
under $250,000
40
25
$250,000 - $499,999
85
84
$500,000 -$ 749,999
25
23
compared to 2013.
$750,000 - $999,999
11
14
Brewster has seen a 32% increase in single family unit sales year
$1,000,000 - $1,999,999
17
16
over year, and condominiums are down by 67%.
$2,000,000 - $3,999,999
2
5
Although Brewster increased single family units, Harwich saw
$4,000,000 and up
0
1
# UNITS SOLD
Total Units Sold Lower Cape
The five Towns comprising the Lower Cape have experienced a decrease in 2014 when compared to 2013. The number of units sold in the Lower Cape are down by about 7% in 2014 as
a decrease. Harwich performed with a 31% decrease in single family sales and condominium units stayed flat at 8. Orleans experienced a 3% decrease in average sales price for single family homes, while condomium prices increased 41%. Chatham and Eastham both experienced increases in unit sales year over year, posting 12% and 13% increases in units respectively.
18
sothebysrealty.com
Web: 21402259
Brewster Known as the “sea captain’s town,” Brewster is located on the north side of Cape Cod. All of its saltwater beaches are located on Cape Cod Bay, known as the famous Brewster flats, where when the tide is “out,” you can walk out into the bay for at least a mile. Along Route 6A, the main thoroughfare, one can find remnants of its historic past from stately sea captain’s homes now converted to B&Bs or private residences. Brewster is also home to Nickerson State Park and the Punkhorn Parklands, providing miles of nature trails for the outdoor enthusiast.
Average Sales Price
Average Days on Market Average Sold/List Price Difference
uNITS sOLD SOLD Jan-Mar 2014
SOLD Jan-Mar 2013
SF
CONDO
2013
$390,566
$203,208
2014
$444,241
$172,725
% Change
14%
-15%
2013
138
137
2014
124
113
% Change
-10%
-18%
2013
96%
95%
2014
94%
95%
% Change
-2%
0%
Inventory % Change 2013 to 2014
Current Inventory (04/02/14)
# Months of Inventory (04/02/14)
SF
Condo
SF
Condo
SF
Condo
SF
Condo
SF
Condo
under $250,000
4
9
3
4
-25%
-56%
0
18
0
14
$250,000 - $499,999
16
3
21
0
31%
-100%
41
10
6
-
$500,000 -$ 749,999
4
0
8
0
100%
0%
22
2
8
-
$750,000 - $999,999
0
0
0
0
0%
0%
12
2
-
-
$1,000,000 - $1,999,999
1
0
1
0
0%
0%
12
0
36
-
$2,000,000 - $3,999,999
0
0
0
0
0%
0%
3
0
-
-
$4,000,000 and up
0
0
0
0
0%
0%
1
0
-
-
TOTALS
25
12
33
4
32%
-67%
91
32
8
24
CAPE COD | The Lower Cape
19
Web: 21402959
Harwich Famous for its Cranberry Festival, Harwich is located to the south of
Average Sales Price
Brewster and all of its saltwater beaches are located along Nantucket Sound. Harwich is also home to some of the most beautiful harbors on Cape Cod, from Wychmere to Allen to Saquatucket, there are many
Average Days on Market
deep-water ports to provide shelter from a storm in Harwich. There is even a ferry which leaves from Saquatucket Harbor to take visitors to Nantucket.
Average Sold/List Price Difference
uNITS sOLD
20
SOLD Jan-Mar 2014
SOLD Jan-Mar 2013
SF
CONDO
2013
$470,208
$208,938
2014
$450,478
$272,313
% Change
-4%
30%
2013
145
154
2014
119
122
% Change
-18%
-21%
2013
92%
94%
2014
94%
97%
% Change
2%
3%
Inventory % Change 2013 to 2014
Current Inventory (04/02/14)
# Months of Inventory (04/02/14)
SF
Condo
SF
Condo
SF
Condo
SF
Condo
SF
Condo
under $250,000
11
6
6
5
-45%
-17%
6
10
3
6
$250,000 - $499,999
28
2
23
2
-18%
0%
67
9
9
14
$500,000 -$ 749,999
7
0
4
1
-43%
100%
31
7
23
21
$750,000 - $999,999
2
0
1
0
-50%
0%
23
0
69
-
$1,000,000 - $1,999,999
3
0
2
0
-33%
0%
15
2
23
-
$2,000,000 - $3,999,999
1
0
0
0
-100%
0%
7
1
-
-
$4,000,000 and up
0
0
0
0
0%
0%
1
0
-
-
TOTALS
52
8
36
8
-31%
0%
150
29
13
11
sothebysrealty.com
Web: 21401931
Orleans Orleans is the hub of the Lower Cape, with a large downtown which hosts many fine restaurants, shops and services. From picturesque Rock Harbor on its north side to the peaceful shelter of Town Cove off the Atlantic on the south, Orleans has something for everyone. Take in a free Cape Cod Baseball League game and cheer on the Orleans Firebirds in Eldredge Park, or bring a blanket or beach chair to sit on the lawn and enjoy the Pops in the Park during the summer. Spend the day at world-famous Nauset Beach relaxing on the sand, or bring your kite to Skaket Beach along Cape Cod Bay. There is never a shortage of things to do in Orleans.
Average Sales Price
Average Days on Market Average Sold/List Price Difference
uNITS sOLD SOLD Jan-Mar 2014
SOLD Jan-Mar 2013
SF
CONDO
2013
$758,653
$378,750
2014
$737,176
$223,625
% Change
-3%
-41%
2013
221
336
2014
192
129
% Change
-13%
-62%
2013
93%
91%
2014
91%
95%
% Change
-2%
4%
Inventory % Change 2013 to 2014
Current Inventory (04/02/14)
# Months of Inventory (04/02/14)
SF
Condo
SF
Condo
SF
Condo
SF
Condo
SF
Condo
under $250,000
1
2
0
3
-100%
50%
1
0
-
0
$250,000 - $499,999
6
1
11
1
83%
0%
11
0
3
0
$500,000 -$ 749,999
5
0
3
0
-40%
0%
22
0
22
-
$750,000 - $999,999
5
1
4
0
-20%
-100%
24
0
18
-
$1,000,000 - $1,999,999
7
0
4
0
-43%
0%
19
0
14
-
$2,000,000 - $3,999,999
0
0
1
0
100%
0%
16
0
48
-
$4,000,000 and up
0
0
0
0
0%
0%
2
0
-
-
TOTALS
24
4
23
4
-4%
0%
95
0
12
0
CAPE COD | The Lower Cape
21
Web: 0402851
Chatham The National Trust for Historic Preservation chose Chatham as a Distinctive Destination in 2007. Few places encompass the historic charm of this quaint “fishing village” by the sea. Chatham has shorelines along both Nantucket Sound and the Atlantic Ocean and is well-known for its Fish Pier from which commercial and recreational fishermen ply their trade. Chatham is home to a picture-perfect Main Street with village shops, world-class inns and wonderful restaurants which provide the perfect
Average Sales Price
Average Days on Market Average Sold/List Price Difference
vantage point to enjoy Chatham’s festive small-town parades on Independence Day and New Year’s Eve.
uNITS sOLD
CONDO
$701,973
$362,083
2014
$1,026,916
$281,250
% Change
46%
-22%
2013
151
557
2014
300
198
% Change
99%
-64%
2013
94%
94%
2014
91%
97%
% Change
-3%
4%
Inventory
SOLD Jan-Mar 2014
SOLD Jan-Mar 2013
SF
Condo
SF
Condo
SF
Condo
SF
Condo
SF
Condo
1
2
1
2
0%
0%
0
0
0
0
$250,000 - $499,999
16
0
12
1
-25%
100%
29
0
7
0
$500,000 -$ 749,999
6
1
5
1
-17%
0%
39
0
23
0
$750,000 - $999,999
3
0
7
0
133%
0%
32
0
14
-
$1,000,000 - $1,999,999
6
0
8
0
33%
0%
47
0
18
-
$2,000,000 - $3,999,999
1
0
3
0
200%
0%
34
0
34
-
$4,000,000 and up
0
0
1
0
100%
0%
7
0
21
-
TOTALS
33
3
37
4
12%
33%
188
0
15
0
under $250,000
22
SF
2013
% Change 2013 to 2014
Current Inventory (04/02/14)
# Months of Inventory (04/02/14)
sothebysrealty.com
Web: 21401404
Eastham Site of the first meeting between the Pilgrims and Nauset Indians at First Encounter Beach in 1620, Eastham also is home to the Salt Pond Visitor Center and gateway to the Cape Cod National Seashore. From the often photographed iconic Nauset Lighthouse with its bold red and white bands to the Colonial Windmill which still sits on the village green and plays host to many arts and craft shows throughout the summer season, Eastham is always ready with picture-perfect locations. Eastham’s Coast Guard Beach is one of the top ten beaches in the world according to Dr. Beach, and its Bay beaches are a favorite of those seeking warmer waters
Average Sales Price
Average Days on Market Average Sold/List Price Difference
SF
CONDO
2013
$392,803
$189,000
2014
$607,861
$424,000
% Change
55%
124%
2013
160
78
2014
206
139
% Change
29%
78%
2013
95%
90%
2014
93%
97%
% Change
-2%
8%
and walks on the flats at low tide. uNITS sOLD SOLD Jan-Mar 2014
SOLD Jan-Mar 2013
Inventory % Change 2013 to 2014
Current Inventory (04/02/14)
# Months of Inventory (04/02/14)
SF
Condo
SF
Condo
SF
Condo
SF
Condo
SF
Condo
under $250,000
2
2
1
0
-50%
-100%
3
5
9
-
$250,000 - $499,999
12
1
12
1
0%
0%
59
4
15
12
$500,000 -$ 749,999
2
0
1
0
-50%
0%
23
0
69
-
$750,000 - $999,999
0
0
2
0
100%
0%
10
0
15
-
$1,000,000 - $1,999,999
0
0
1
0
100%
0%
3
0
9
-
$2,000,000 - $3,999,999
0
0
1
0
100%
0%
3
0
9
-
$4,000,000 and up
0
0
0
0
0%
0%
0
0
-
-
TOTALS
16
3
18
1
13%
-67%
101
9
17
27
CAPE COD | The Lower Cape
23
On the market
left to right from top to bottom:
in metropolitan markets San Francisco, CA | Web: 0086643 | $2,995,000 Houston, TX | Web: 1230207 | $3,295,000 New York, NY | Web: 0137101 | $2,500,000 in resort markets East Hampton, NY | Web: 0056005 | $2,750,000 Pebble BEACH, CA | Web: 0473601 | $2,690,000 East Falmouth, MA | Web: 0840564 | $2,595,000 in foreign markets Thailand | Web: V7QZ6W | $3,859,216 Greece | Web: SMZVGF | Price Upon Request France | Web: PJ7HYY | Price Upon Request sothebysrealty.com
24
sothebysrealty.com
The Outer Cape
Web: 21209097
Wellfleet, Truro, Provincetown What some consider to be the “True Cape Cod� the Outer Cape is home to some of the most picturesque dunescapes and marshlands on this sandy peninsula. The Cape Cod National Seashore encompasses many of the lands on the Outer Cape including the entire eastern facing shoreline along the Atlantic Ocean. The least populated and most rural part of Cape Cod, many seek the peaceful solitude and beauty that this region provides.
CAPE COD | The Outer Cape
25
Outer Cape Sales January - March 2014 2014
2013
UNDER $250,000
$250,000 - $499,999
$500,000 - $749,999
$750,000 - $999,999
$1,000,000 - $1,999,999
$2,000,000 - $3,999,999
$4,000,000 AND UP
0
5
10
15
20
25
30
# UNITS SOLD
Total Units Sold Outer Cape
2012
2013
5
4
$250,000 - $499,999
27
27
$500,000 -$ 749,999
7
16
$750,000 - $999,999
8
8
$1,000,000 - $1,999,999
4
2
$2,000,000 - $3,999,999
1
1
$4,000,000 and up
0
0
under $250,000
The Outer Cape experienced a 12% increase in unit sales year over year. Wellfleet sales of single family units increased 44% while pricing increased by 2%. Condominiums are up by 30% in average selling price with a 100% increase in unit sales. Truro performed with a 43% decrease in single family sales and a 50% increase in sales of condominium units. Provincetown saw a 6% increase in the average sales price of single family homes and a 25% increase in the sales price of condominium units. Unit sales were down 33% for single family homes and condominiums were up 50%.
26
sothebysrealty.com
Web: 21309425
Wellfleet The town of Wellfleet is home to amazing dunes along its eastern shores that provide miles of breathtaking views. The Marconi Site, within the Cape Cod National Seashore is where the first Trans Atlantic radio message was sent from America to England by Guglielmo Marconi in 1903. Along its northern shores of Cape Cod Bay resides the beauty of Wellfleet Harbor where one can enjoy the coming and going of boats and people throughout the day. Along its Main Street are wonderful shops, restau-
Average Sales Price
Average Days on Market Average Sold/List Price Difference
rants and galleries, ripe for exploring.
uNITS sOLD SOLD Jan-Mar 2014
SOLD Jan-Mar 2013
SF
CONDO
2013
$510,140
$271,000
2014
$521,865
$352,688
% Change
2%
30%
2013
318
449
2014
169
240
% Change
-47%
-47%
2013
94%
92%
2014
93%
94%
% Change
-1%
2%
Inventory % Change 2013 to 2014
Current Inventory (04/02/14)
# Months of Inventory (04/02/14)
SF
Condo
SF
Condo
SF
Condo
SF
Condo
SF
Condo
under $250,000
0
1
2
0
100%
-100%
2
6
12
-
$250,000 - $499,999
6
1
5
3
-17%
200%
12
3
29
12
$500,000 -$ 749,999
2
0
4
1
100%
100%
25
0
75
0
$750,000 - $999,999
0
0
1
0
100%
0%
6
0
72
-
$1,000,000 - $1,999,999
1
0
1
0
0%
0%
7
0
84
-
$2,000,000 - $3,999,999
0
0
0
0
0%
0%
0
0
-
-
$4,000,000 and up
0
0
0
0
0%
0%
2
0
-
-
TOTALS
9
2
13
4
44%
100%
54
9
12
7
CAPE COD | The Outer Cape
27
Web: 21307040
Truro Truro is the smallest and least populated town on Cape Cod. Home to dramatic sandy cliffs from Atlantic to Bay, Truro is unsurpassed in its natural beauty. Built in 1797, Highland Lighthouse, located on a cliff 183 feet above sea level, is the oldest lighthouse on Cape Cod. Truro resides close enough to Provincetown to enjoy its activities, but far enough removed to bask in peaceful seclusion.
Average Sales Price
Average Days on Market Average Sold/List Price Difference
uNITS sOLD
28
SOLD Jan-Mar 2014
SOLD Jan-Mar 2013
SF
CONDO
2013
$617,429
$241,250
2014
$733,733
$333,333
% Change
19%
38%
2013
309
371
2014
242
364
% Change
-22%
-2%
2013
92%
94%
2014
93%
95%
% Change
1%
2%
Inventory % Change 2013 to 2014
Current Inventory (04/02/14)
# Months of Inventory (04/02/14)
SF
Condo
SF
Condo
SF
Condo
SF
Condo
SF
Condo
under $250,000
1
1
0
2
-100%
100%
0
8
-
48
$250,000 - $499,999
5
1
1
0
-80%
-100%
8
17
96
-
$500,000 -$ 749,999
3
0
3
1
0%
100%
19
1
76
12
$750,000 - $999,999
5
0
3
0
-40%
0%
9
0
36
-
$1,000,000 - $1,999,999
0
0
1
0
100%
0%
16
0
192
-
$2,000,000 - $3,999,999
0
0
0
0
0%
0%
9
0
-
-
$4,000,000 and up
0
0
0
0
0%
0%
0
0
-
-
TOTALS
14
2
8
3
-43%
50%
61
26
23
26
sothebysrealty.com
Web: 21306428
Provincetown Provincetown is the bustling, eclectic community at the very tip of Cape Cod. An arts and cultural hub, the Cape Cod School of Art was founded in 1899 by Charles W. Hawthorne and a vibrant arts community still exists today. Home to 3 lighthouses all located within the Cape Cod National Seashore, Provincetown boasts a rich fishing heritage and beautiful harbor. Its vibrant Commercial Street hosts a wonderful collection of shops, galleries, B&Bs and restaurants. The Pilgrim Monument affords the most spectacular view across all of Cape Cod. An outdoor enthusiast’s dream, Provincetown features many beautiful nature trails, a harbor bustling with
Average Sales Price
Average Days on Market Average Sold/List Price Difference
SF
CONDO
2013
$1,021,813
$367,638
2014
$1,086,000
$459,854
% Change
6%
25%
2013
189
222
2014
191
197
% Change
1%
-11%
2013
93%
99%
2014
92%
95%
% Change
-1%
-4%
fishing and whale watching, bike trails and miles of beautiful beaches. uNITS sOLD SOLD Jan-Mar 2014
SOLD Jan-Mar 2013
Inventory % Change 2013 to 2014
Current Inventory (04/02/14)
# Months of Inventory (04/02/14)
SF
Condo
SF
Condo
SF
Condo
SF
Condo
SF
Condo
under $250,000
0
2
0
0
0%
-100%
0
16
-
-
$250,000 - $499,999
1
13
1
17
0%
31%
4
58
48
41
$500,000 -$ 749,999
2
0
1
6
-50%
100%
5
31
60
62
$750,000 - $999,999
2
1
3
1
50%
0%
5
6
20
72
$1,000,000 - $1,999,999
3
0
0
0
-100%
0%
24
3
-
-
$2,000,000 - $3,999,999
1
0
1
0
0%
0%
6
0
72
-
$4,000,000 and up
0
0
0
0
0%
0%
1
0
-
-
TOTALS
9
16
6
24
-33%
50%
45
114
23
14
CAPE COD | The Outer Cape
29
Howard Hayes owner/ broker
oldCape
Ken Hager brokerage manager
Dolores Alberti
John Allen
Karen Arnold
Susan BakerOutslay
Len Coakley
Debbie Cody
Karin Daffinee
Eric Ehnstrom
Jo-Ellen Erickson
Peggy Farber
Tracie Griffith Vincent
Chris Hardman
Joseph Hartung
Deidre Hedmark
Dee Higgins
Marion Kaiser
Daneen Law
Joanne Liberles
Diane Miller
Dianne Mongeau
Mary O’Donnell
Pam Roberts
Ann Rush
Brandy Salvador
Carla Hemmings
Barbara O’Brien
Rental Department
Eva Scott
Gayle Tambolleo
Jim Trainor
Natalia Weiner
Susan Winslow
oldcape.com
Brewster
2404 Main Street, Brewster, MA 02631 508.896.5000 | 800.896.9008
Harwich Port
587 Route 28, Harwich Port, MA 02646 508.432.6100 | 888.432.9220
Orleans
6 Route 6A, Orleans, MA 02653 508.255.6000 | 800.255.0173
Each Office is Independently Owned and Operated.
Atlantic Bay atlanticbaysir.com
Provincetown
168 Commercial Street Provincetown, MA 02657 508.487.2430 Emily Flax
broker/owner
David Nicolau broker/owner
Lincoln Sharpless broker/owner
Each Office is Independently Owned and Operated.
30
Sue Buerkel
Mary Cabral
Ruth Gilbert
Sharon Craig vice president, brokerage manager
Steve Asmond
Hugh Barnes
Jackie Bartolomei
Laura Blair
Jane Bodrie
Courtney Bottcher
Bonnie Britt
Melinda Chapin
Pam Chmielinski
Donna Christopher
Stephen Cobb
Jack Cotton
Cindy Crawford
Patrick Ehart
Bob Foley
Gail Germain Martis
Margaret Gifford
Susan Gill
Ginny Guimond
Annie Hart Cool
Nancy Komenda
Jack Largay
Jan Macallister
Gene Marchand
Jennifer McCartin
Terri Monroe
Oliver Muldoon
Pamela Mullin
Joanne Murphy
Gene Orloff
Debbie Reed
Colleen Riley
Peggy Rowland
Donna Sawyer
Peter Sivco
Steven Strojny
Nancy Sullivan
Pat Thatcher
Laura Thomson
Ellen Valentgas
Nicole Vautrain
Beverly Wall-Cedrone
John Weyand
Samuel Wilson
Joan Witter
sothebyshomes.com/capecod
Osterville
851 Main Street, Osterville, MA 02655 508.428.9115 | 800.851.9115 Operated by Sotheby’s International Realty, Inc.
West Falmouth
550 West Falmouth Hwy West Falmouth, MA 02574 508.548.2522 | 866.508.2522 31
BREWSTER
HARWICH
OSTERVILLE
PROVINCETOWN
ORLEANS
oldCape
FALMOUTH
Atlantic Bay
Osterville
Brewster
Provincetown
851 Main Street
2404 Main Street, Brewster, MA 02631
168 Commercial Street
Osterville, MA 02655
508.896.5000 | 800.896.9008
Provincetown, MA 02657
508.428.9115 | 800.851.9115
West Falmouth 550 West Falmouth Hwy West Falmouth, MA 02574 508.548.2522 | 866.508.2522
Harwich Port 587 Route 28, Harwich Port, MA 02646 508.432.6100 | 888.432.9220
508.487.2430 atlanticbaysir.com Each Office is Independently Owned and Operated.
Orleans 6 Route 6A, Orleans, MA 02653
sothebyshomes.com/capecod Operated by Sotheby’s International Realty, Inc.
Sotheby’s International Realty and Sotheby’s International Realty logo are registered (or unregistered) service marks used with permission.
508.255.6000 | 800.255.0173
Please contact one of our offices for additional information about
oldcape.com Each Office is Independently Owned and Operated.
any of the properties featured in this magazine or on our websites, or to receive a complimentary evaluation of your home.
sothebysrealty.com