Blog :: 05-2009

Cape Cod Summer Rentals Slow?

Yesterday's  Cape Cod Times had a front page ARTICLE declaring the state of this year's summer rental market to be much slower than recent years due to the economic uncertainty.   People are taking a "wait and see" attitude it seems.  In our office, summer rentals in Dennis and East Dennis have been getting steady attention since January 1, and calls continue to come in daily.  With Memorial Day weekend upon us, summer is on everyone's mind and we believe this rental season will be as good as any previous!  Stay tuned!

Elaine

Musings on Striped Bass Carcasses.........

Striped bassImage via Wikipedia

Yesterday on my early morning beach run, I stumbled (quite literally) upon several striped bass carcasses, fillets missing, heads and tails intact.  "Yuck!" you might say.  But it actually made me smile.  This particular harbinger of summer, discarded from a passing fishing boat, was a pleasant reminder that Cape Cod Summer 2009 is finally on the way!  It's been a long, cold winter here on the Cape, but the fisherman are already out and the Cape Cod summer season officially begins this weekend!  (Am I the only one who didn't know that striped bass were running this early?  Probably....  I actually love to fish - something few people know about me - I can even bait my own hook!)

Today is the beginning of Memorial Day Weekend 2009.  The traffic outside my office window has steadily increased as the afternoon wears on.  The weather report is for sunny skies and it won't be long before we know how this economy will effect the upcoming tourist season......and the striped bass population!  Stay tuned for more musings on BOTH!

Happy Memorial Day!

Elaine

Comments

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    Howdy! This blog post couldn't be written any better! Looking through this post reminds me of my previous roommate! He always kept preaching about this. I will forward this article to him. Fairly certain he'll have a good read. Thank you for sharing!

    Cape Cod Neighborhood Sales Data: April/May 2009

    The following is recent real estate sales activity for the Mid-Cape villages of Dennis, East Dennis, South Dennis and West Dennis.

    April 1, 2009 through May 15, 2009 as reported by Cape & Islands MLS

        List Price Sale Price SP%LP
    18 Christopher Hall Dr Dennis    325,500    300,000    92
    61 Lombardi Heights Rd Dennis    499,000    405,000    81
    3 Luscombe Ln Dennis    985,000    860,000    87
    16 Nathaniel Way East Dennis    329,782    312,500    95
    73 King James Dr East Dennis    369,900    330,000    89
    26 Highland Rd East Dennis 1,195,000 1,085,000    91
    6 Great Western Way South Dennis    189,900    172,500    91
    301 Old Bass River Rd South Dennis     219,000    217,500    99
    49 W Old Chatham Rd South Dennis    249,999    227,500    91
    123 Duck Pond Ext Rd South Dennis    259,900    228,000    88
    3 Dunstable Cross Rd South Dennis    274,000    250,000    91
    3 Margate Ln South Dennis    329,000    325,000    99
    34 Salt Meadows Rd West Dennis    299,800    287,500    96
    30 Uncle Stephens Rd West Dennis    450,000    435,000    97
    12 Old Field Rd West Dennis    484,900    460,000    95
    24 Fisk St West Dennis    675,000    622,500    92
    2 Baker Way West Dennis 1,095,000    865,000    79

    Market Insights (May 13, 2009)

    Dennis and Brewster are stabilizing. Condo sales continue to drop sharply.

            Unit Sales (YTD)         Median Price (YTD)
      2008 2009     % Change         2008          2009    % Change
    Dennis              
    Single Family 66 47 -29% $289,450 $295,000 2%
    Condo 29 10 -66% $135,000 $140,000 4%
    Days on Market 100 137 37%  
    % Meet Selling Price 93 94 1%  
                   
    Yarmouth              
    Single Family 107 93 -13% $304,900 $228,125 -25%
    Condo 28 18 -36% $250,000 $195,000 -22%
    Days on Market 176 120 -32%  
    % Meet Selling Price 92 93 1%  
                   
    Brewster              
    Single Family 34 21 -38% $358,500 $351,500 -2%
    Condo 16 9 -44% $239,500 $209,646 -12%
    Days on Market 151 144 -5%  
    % Meet Selling Price 94 91 -3%  
                   
    Harwich              
    Single Family 65 54 -17% $365,000 $335,000 -8%
    Condo 3 8 167% $160,000
    Days on Market 123 176 43%  
    % Meet Selling Price 94 93 -1%  
           
    Barnstable              
    Single Family 32 62 94% $477,500 $310,000 -35%
    Condo 1 2 100%
    Days on Market 129 144 12%  
    % Meet Selling Price 95 92 -3%  
                   
    Cape Cod              
    Single Family 695 882 27% $345,000 $280,000 -19%
    Condo 256 163 -36% $246,250 $227,000 -8%
    Days on Market 161 166 3%  
    % Meet Selling Price 93 92 -1%  

    Market Insights (May 6, 2009)

     

    The following is the first of what will be WEEKLY entries of market data for MID-CAPE REAL ESTATE.

    This week's data shows that prices are stabilizing in Dennis.

                Unit Sales (YTD)   Median Price (YTD)
      2008 2009    % Change 2008 2009 % Change
    Dennis              
    Single Family 50 34 -32% $289,450 $295,000 2%
    Condo 23 9 -61% $135,000 $140,000 4%
    Days on Market 100 137 37%  
    % Asking Price 93 94 1%  
       
    Yarmouth        
    Single Family 73 72 -1% $304,900 $228,125 -25%
    Condo 28 13 -54% $250,000 $195,000 -22%
    Days on Market 176 120 -32%  
    % Asking Price 92 93 1%  
       
    Brewster        
    Single Family 25 16 -36% $358,500 $351,500 -2%
    Condo 12 4 -67% $239,500 $209,646 -12%
    Days on Market 151 144 -5%  
    % Asking Price 94 91 -3%  
       
    Harwich        
    Single Family 47 41 -13% $365,000 $335,000 -8%
    Condo 2 7 250% $160,000  
    Days on Market 123 176 43%  
    % Asking Price 94 93 -1%  
       
    Barnstable        
    Single Family 10 20 100% $477,500 $310,000 -35%
    Condo 1 2 100%  
    Days on Market 129 144 12%  
    % Asking Price 95 92 -3%  
       
    Cape Cod        
    Single Family 639 538 -16% $345,000 $280,000 -19%
    Condo 216 118 -45% $246,250 $227,000 -8%
    Days on Market 161 166 3%  
    % Asking Price 93 92 -1%