Blog :: 07-2009

Market Insights (July 29, 2009)

Sales volume and median prices continue to decline on Cape Cod at an identical rate with the Town of Dennis. The trend also shows a 52% reduction in sales of single family homes priced above $1,000,000.  The sale of land on Cape Cod has dropped severely with only one (1) sale since April of land priced over $350,000. With these facts in mind, pricing properties to sell needs to respect the changes in the Cape Cod real estate market especially in the mid-Cape area.

  Unit Sales (YTD)   Median Price (YTD)
  2008 2009 % Change   2008 2009 % Change

Dennis

             
Single Family 118 91 -23%   $328,000 $290,000 -12%
Condo 39 16 -59%   $135,000 $145,500 8%
Days on Market 126 114 -10%        
% Meet Selling Price 93 94 1%        
               

Yarmouth

             
Single Family 201 165 -18%   $269,000 $240,000 -11%
Condo 35 30 -14%   $240,000 $181,000 -25%
Days on Market 101 149 48%        
% Meet Selling Price 92 93 1%        
               

Brewster

             
Single Family 67 52 -22%   $385,000 $365,000 -5%
Condo 26 12 -54%   $245,000 $227,500 -7%
Days on Market 118 179 52%        
% Meet Selling Price 94 91 -3%        
               

Harwich

             
Single Family 121 91 -25%   $365,000 $324,800 -11%
Condo 6 9 50%   $237,500 $160,000  
Days on Market 156 137 -12%        
% Meet Selling Price 94 93 -1%        
               

Barnstable

             
Single Family 328 278 -15%   $402,500 $334,300 -17%
Condo 1 2 100%        
Days on Market 157 133 -15%        
% Meet Selling Price 95 92 -3%        
               

Cape Cod

             
Single Family 1554 1210 -22%   $350,500 $307,900 -12%
Condo 346 239 -31%   $317,000 $291,400 -8%
Days on Market 143 154 8%        
% Meet Selling Price 93 92 -1%        

Cape Cod Weather and Your ONE Week Vacation...

Head of the Meadow BeachesImage by Jim Frazier via Flickr

Last week we had a renter call the night before they were due to move in to their Cape Cod Rental for the week. "We've had a family meeting" she said " and because the weather is predicted to be so bad, we would like to switch our week to one in August."  Yikes! Well, as much as we would have liked to accommodate them there was no way we could!  Can you imagine the precedent that would set?  A logistical nightmare!  We do however, feel for them. How disappointing to look forward to your one week vacation on the Cape only to have it rain incessantly.

If your vacation ends up being a washout, there are  options to going to the beach!  There are museums, antique shopping, movies, and matinee plays at the The Cape Playhouse. Take a look at the Cape Cod Online website in the VISITORS GUIDE section to get you started.  And hey, don't be too bummed out - you're on vacation afterall! :)

Elain

Cape Cod Neighborhood Sales Data: May/June 2009

Sales in Dennis for the period May 15 through June 30, 2009 reflect a continuing down-trend in sales and prices for the area.  Interestingly, the average selling price is 96% of listed price during the time frame.  18 properties sold in five Dennis Villages and only one sold for over $700,000.   Buying opportunities are ripe at the moment and continue to present values equal to those found in 2003 for most properties in the Mid-Cape towns of Dennis, Brewster, Yarmouth and Harwich.

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

    List Price Sale Price SP%LP
9 Fairview Ave Dennis 238,500 233,500 98
98 Whittier Dr Dennis 339,900 313,000 92
4 Paul St Dennis 449,000 425,000 95
37 Partridge Ln Dennis 497,500 445,000 89
463 Route 6A Dennis 485,000 472,000 97
24 Monroe Way Dennis 749,000 696,500 93
26 Compass Ln East Dennis 359,900 350,000 97
44 King James Dr East Dennis 399,000 352,900 88
52 Northside Dr East Dennis 369,000 364,000 99
24 Bakers Pond Rd East Dennis 869,000 860,000 99
53 Thorwald Dr South Dennis 141,900 140,000 99
14 Uncle Bills Way South Dennis 248,000 235,000 95
14 Sawyer Circle South Dennis 279,900 273,000 98
26 Princeton Cir West Dennis 269,000 257,000 96
22 Trotters Ln West Dennis 289,000 285,000 99
9 Terry Rd West Dennis 309,900 309,900 100
162 Loring Ave West Dennis 399,900 375,000 94
30 Little Cove Cir West Dennis 539,000 515,000 96