We have five excellent open houses this weekend, the first of the July 4th holiday. If you are interested in any of these homes or to learn more about any other open houses on the Cape, contact us today.
Fall in love with this sun-filled South Yarmouth charmer. Grab some appetizers from [...]
We have six excellent open houses this weekend. If you are interested in any of these homes or to learn more about any other open houses on the Cape, contact us today.
The price has just been reduced on this excellent starter, retirement or vacation home which is conveniently located [...]
May Review: Last month was characterized by the Spring market frenzy. While 399 closed single family homes may not seem like much of a frenzy, compared to the January-April dearth, it was. Overall though, sales and inventory are down compared to this time last year, which we believe says more about the unusually busy 2017 market leaving us [...]
We have four excellent open houses this weekend and predictions of fair weather so don't miss out. If you are interested in any of these homes or to learn more about any [...]
Spring makes us love the Cape for a lot of different reasons, not the least of which is the warming weather and water. Warmer water means that we no longer need to worry about hypothermia when participating in one of the best Cape Cod activities, shellfishing. Each town has unique regulations and areas that are open and closed depending [...]
We have four excellent open houses this weekend and predictions of fair weather so don't miss out. If you are interested in any of these homes or to learn more about any [...]
We have three excellent open houses this weekend and, with the first prediction of clear skies in some time, will be a great weekend to get out and preview your dream home!
Location is everything and this home has it all - expansive views of Quivet Neck conservation land as far as [...]
We have 3 great open houses this weekend that you won't want to miss.
With 9 Osborn Snow Drive, East Dennis, location is everything and this home has it all - expansive views of Quivet Neck conservation land as far as Cape Cod Bay and lush grounds that have character and set the tone for the Cape Cod lifestyle. The gracious interiors cover 6600 square feet which include separate living quarters and a large private office that makes this home ideal for corporate retreats. Every inch was custom crafted with low maintenance in mind. Boasting a fabulous chef's kitchen and oversized deck, entertaining is a breeze. Delight your clients with delicious treats prepared in the brick oven while enjoying the sweeping views and wine on the deck or by the fire pits. This special place features 5 bedrooms, 5 baths, sparkling wood, tile, and lush carpeting, vaulted ceilings, and floor to ceiling windows. This is truly private and in an exceptional neighborhood. Bring your personal touches. $2,075,000.
Just new to the market 438 Main St, Osterville, is a unique refined residence a short stroll to Osterville Village for Fancy's Market, library, post office, coffee, and brunch or to Dowes Beach for a sunny walk or cooling dip. This renovated charmer has a versatile floor plan. The heart of the home features a family room kitchen combination that spills onto the large gracious sun room that was added in 2012 with deck and patio on either side. The living room with lovely bay window is set apart allowing for quiet contemplation and intimate chats. Each bedroom has a private bath. There is extra sleeping area with half bath for visitors. The home is air conditioned throughout and has a fantastic outdoor shower. This adaptable home is to be enjoyed in summer and all year long. $699,000
Also new to market and having the versatility of both residential and general commercial zoning, 485 Main St, West Dennis, was also known as the Rose Victorian Gift Shop for many years. Built in 1877 this striking Folk Victorian home features five bedrooms, 3 baths, a large carriage house of consistent architecture, two storage 'barns,' plus a privy. It is sited along Main Street a walk to the Village Center. Charm and grace best describe the tree lined street setting and interior with its inlaid wood floors, high ceilings, plaster ceiling medallions and many other period features. The General Commercial zoning allows for a wide variety of uses. Bring your ideas and make this property sparkle once more! $399,000
Our goal in this series is it to help you understand how we interpret markets on the Cape and how this informs our recommendations when developing pricing strategies. In this installment we will be evaluating a specific market - single family homes on the water, Barnstable to Orleans (Homes on Water Bodies & Homes on Beaches). Immediately we notice some relevant trends.
First the median sales price for these homes is much higher than the Barnstable County median at $1,200,000, yet take far longer to sell with a median days on market of 95 (and an average of 231). To be fair these are expensive waterfront homes, occupy a smaller market niche, and ultimately take longer to sell. We also see, based on the bar graph at left, that the group of fastest selling homes (43 days or less) sell for 94% of the asking price - as compared to Brewster in Part 2, those fastest selling homes did so in 25 days or less with 99% of the asking price.
Getting back to the waterfront case study, the homes that take longest to sell require price reductions on the order of 12% off the original asking price and only sell for 79% of the original asking price. What we see here is that people tend to price waterfront homes very aggressively (high) and require significant reductions before they sell. Furthermore these homes are sold for far less than the original asking price as well as the current asking price - something to think about if you are in the market for a $1,000,000 home on the water. Consider also that many of these sellers have a price in mind and are willing, can afford, and believe that waiting will get their asking price; however, as is evident in the data, waiting longer does not return a higher sale price.
We discovered one more interesting thing here. When analyzing certain markets it is useful to know how square footage affects sale price - and it may not be what you think. In this market (and this is not always the case) the larger the home the fewer dollars per square foot ($/sqft) it returns. Using the trend line on the graph we would predict that a 9000sqft home would sell for about $500/sqft whereas a 1000sqft home would sell for closer to $600/sqft. Mind this is a loose relationship but it is a trend that reappears in many markets. The takeaway? Larger waterfront homes are having a harder time selling than smaller ones - price reductions may be warranted earlier in developing a sales strategy.
Check back next time for our final part in the series: some long term analyses.
Fall is a great time to consider more significant home improvements including bathroom and kitchen remodeling, exterior residing and shingling, and landscaping upgrades and improvements. With the holidays still months away many projects can be completed before guests, turkeys, and trees begin occupying your time. If your project is a more [...]