Third Quarter Statistics vs YTD for 2008 for Provincetown, Truro, and Wellfleet, Mass
Always interesting to make comparisons from year to year on the local markets considering the effects from the changes in the financial markets. Our first part of the year started off to a slow start and rightly so due to everyone's adjustment to shrinking markets, 401 K's, and the changes in property values. Locally, our market came off a first two quarter downturn, and we were very encouraged at the end of Summer, and begining of September's surge in home/condo contracts. Most buyers felt the market has bottomed here locally, and after watching a specific property that was tops on their list of options, felt it was worth bidding on rather than loosing it waiting for a price decrease. When your investment will be enjoyed over several years, loosing it over a few thousand dollars spread over the life ofm the loan convinced buyers to act and start enjoying and appreciating the lifestyle locally. Below you will see a local summary of the market for the the year, and its important to see that we have 53 properties pending to close not included in these numbers from the recent buyer activity.
Volume | Year to date 2009 | Last year to date 2008 |
Provincetown | | |
Condos | 54 | 79 |
Single family | 13 | 24 |
Average days on the market | 224 | 197 |
| | |
Truro | | |
Condos | 13 | 16 |
Single family | 15 | 33 |
Average days on the market | 242 | 228 |
| | |
Wellfleet | | |
Condos | 3 | 5 |
Single family | 22 | 24 |
Average days on the market | 189 | 228 |
| | |
Total sales | 120 | 181 |
*Provincetown pending closings as of 9/30/09 for all properties is 45
Sales Prices (2008) | Highest | Lowest | Average |
Provincetown | | | |
Single Family | $1,600,000 | $245,000 | $510,000 |
Condos | $848,000 | $153,000 | $404,000 |
| | | |
Truro | | | |
Single Family | $1,915,000 | $404,000 | $822,000 |
Condos | $550,000 | $195,000 | $345,000 |
| | | |
Wellfleet | | | |
Single Family | $855,000 | $150,000 | $461,000 |
Condos | $477,000 | $230,000 | $330,000 |
Provincetown Real Estate, Truro and Welfleet Real Estate
“Its not a bad time of the year to buy or sell. Demand does not dry up- it’s
replenished each year by a new group of young people” Boston Globe 4/18/08