Cape Cod News

Cape Cod Open Houses Weekend 3/23-3/24 2019

Check out these open houses on Cape Cod this weekend.  If you are interested in any of these homes or to learn more about any other homes for sale on the Cape, contact us today.  Chatelain Real Estate agents are known for the excellent quality of service and professionalism they offer their clients and would love to help you find your dream home on Cape Cod.

 

PRICE REDUCED | Saturday 10-12 | 47 Asack Drive South Dennis

This lovely home in a sought-after Dennis neighborhood offers sparkling hardwood and tile floors. It is conveniently located with easy access to amenities and all of life's needs. Sit back and enjoy morning coffee in the window wrapped sunroom while listening to the chirping birds in the peaceful yard. Step out on the Azek deck to feel the breeze coming through the trees that afford exceptional privacy. Entertain from the smartly appointed stainless kitchen with granite counters. Nestle with a book around the gas fireplace in the living room. Or enjoy a movie in the loft that is large enough to be both an entertainment center and grand home office. Take comfort in the first floor master bedroom that features an en suite lovely bath and walk-in closet. House your guests in the two second floor bedrooms. Take pride in the interesting architectural features. Delight in the fact that this home is low maintenance and economical to own with its solar panels. This is truly a joy to own.

 

Saturday 1-3 | 88 Pleasant Bay Road Harwich

Delightful home centrally located. It features one floor living, warm wood accents, an open floor plan, beamed vaulted ceiling, and sparkling hardwood floors throughout. The master bedroom with private bath has direct access through large slider to the deck. This home is nestled on a private acre of land that is convenient to Pleasant Bay for water recreation and to shopping, restaurants, groceries, post office and all life needs. Truly a joy to own.

Cape Cod Open Houses Weekend 3/16-3/17 2019

Check out these open houses on Cape Cod this weekend.  If you are interested in any of these homes or to learn more about any other homes for sale on the Cape, contact us today.  Chatelain Real Estate agents are known for the excellent quality of service and professionalism they offer their clients and would love to help you find your dream home on Cape Cod.

PRICE REDUCED | Saturday 10-12 | 47 Asack Drive South Dennis

This lovely home in a sought-after Dennis neighborhood offers sparkling hardwood and tile floors. It is conveniently located with easy access to amenities and all of life's needs. Sit back and enjoy morning coffee in the window wrapped sunroom while listening to the chirping birds in the peaceful yard. Step out on the Azek deck to feel the breeze coming through the trees that afford exceptional privacy. Entertain from the smartly appointed stainless kitchen with granite counters. Nestle with a book around the gas fireplace in the living room. Or enjoy a movie in the loft that is large enough to be both an entertainment center and grand home office. Take comfort in the first floor master bedroom that features an en suite lovely bath and walk-in closet. House your guests in the two second floor bedrooms. Take pride in the interesting architectural features. Delight in the fact that this home is low maintenance and economical to own with its solar panels. This is truly a joy to own.

Saturday 1-3 | 15 Ocean Ave Harwich Port

This is an unbeatable location that features charming cottages, which share a love for summer fun. Nantucket Sound is merely 140 paces away and Harwich Port village center is less than a quarter mile for fine dining, shopping, art galleries, and more. This home an arts and crafts style bungalow renovated in 2013 , combines historic features, such as built-ins, charming decorative arched fireplace, carved brick mantle and dark wooden beams with modern bathrooms, kitchen, and infrastructure upgrades. The ocean is viewable from both up and downstairs porches and the master bedroom. It is a larger home with adequate room for large gatherings. Long standing solid rental history is available. Septic is being upgraded.

Sunday 1-3 | 13 Beachwood Rd South Yarmouth

 sophisticated cottage for the discerning homeowner this is a true pleasure to own. Don't compromise on quality. This extraordinary custom renovated luxurious cottage personifies the charm of the Cape. Every inch in each of the six rooms is crafted to perfection from end-grain butcher block counters and Baldwin hardware to granite steps, copper gutters, and decorative mullions all by Kenneth Vona Construction. Ocean views capture quintessential Cape Cod. This jewel is less than 50 paces to Nantucket Sound beach.

Cape Cod Market Update March 2019

February Review:

February saw the beginning of the Spring market on Cape Cod and the numbers tell an interesting tale.  We notice that average days on market has been steadily increasing while average percent of original price received has been declining.  It seems that buyers in the market are responding to overpriced houses by waiting longer to make offers and ultimately offering less.  We see this time and time again in smaller markets too, take an analysis we did for a client recently: Brewster Single Family sales in 2018. 

I'll explain briefly: 

Blue columns indicate the current price as a % of the original asking price.  In other words, the price that actually attracted a buyer.

Orange columns indicate the sale price as a % of the original price.

The three groups of columns show the houses that sold the fastest selling (left group at less than 25 days), median (middle group), and slowest selling (right group at more than 105 days).

Given all of that, we see houses that sell faster sell for closer to the asking price.  Homes that are on the market for longest are reduced to 94% of the original asking price before they attract a buyer and sell for only 90% of the original asking price. The takeaway is clear: if you price your house too high, it could spend more time on market and receive significantly less than the original asking price - ultimately costing you money.  It is important to work with local real estate experts to be sure you are well informed about how pricing strategies ultimately affect your bottom line.  

Recent Market Summary

  Dec Jan Feb
   Closed Sales 290 229 201
   Inventory 1,614 1,626 1,693
   Median Sales Price $385K $395K $408K
   Avg Days on Market 95 112 130
   Avg % of Original Price 93% 92% 91%

 

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Dennis Insights

Comments

  1. michael myslinski on

    I enjoy your updates. Thanks, Mike
    • Paul Chatelain on

      Thank you. We are happy to do it
  2. Michael Haidas on

    I too enjoy your updates. Best darn realtors on the Cape.
    • Paul Chatelain on

      Thanks Mike. Your vote of confidence is very much appreciated

Cape Cod Market Update February 2019

January Review: 

  January followed the trend of the last few months of throwing trends out of the window.  The economy recovered much of the ground lost in December but still feels shaky to many investors.  As a result mortgage rates seem to be on uncertain ground as well, though they are still at historic lows hovering in the low 4% range.  The real estate market in Barnstable County is showing some interesting shifts.  Inventory is at 4.8 months, the same as December.  This is atypical for the past three Januarys which all showed a decline in inventory compared to December.  Additionally median sales price is down nearly 3% from this time last year and days on market are up by 7 days.  We are interested to see if increasing inventory and improved affordability will follow.

Recent Market Summary

  Nov Dec Jan
Closed Sales 308 290 229
Inventory 1,968 1,614 1,626
Median Sales Price $435K $385K $395K
Avg Days on Market 100 95 112
Avg % of Original Price 94% 93% 92%

 

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December Review (in case you missed it)

Announcing Chatelain Real Estate

 

 

 

 

 

We are proud to announce that Cape Cod's newest independent real estate firm is here with 57 combined years of experience and two generations of tradition in real estate on Cape Cod. As Chatelain Real Estate we are pleased to offer a full suite of real estate services from buyer and seller representation to rental marketing and property management. We look forward to continuing to provide a client experience second to none and working for you and your friends and family soon. For more information about us and the services we offer, please check out our website at www.ChatelainRealEstate.com, follow us on facebook, or drop by the office at 708 Route 134, Suite 9, South Dennis. If you aren't already receiving our monthly e-newsletter, click here to subscribe.

 

January Market Update 2019

Hello to all and Happy New Year!  We wish you health and happiness for 2019

December Review: 

   If we had to choose a word for December it would be: schizophrenic.  Between large swings in the stock market, concomitant swings in the mortgage market and an uncertain future of rate hikes, frankly we feel a little addled.  The local housing market however continues to show strength despite these causes for concern.  While inventory was down from November, it is up 4% from this time last year and we are at 4.8 months of inventory, which is 11.6% higher than last year.  In other words we are seeing the trend continue where inventory of homes for sale is being built back up, though slowly.  Otherwise December continued the normal seasonal slump as people spent time with family over the holidays.  We still need a bit of time to finish crunching the numbers from all of 2018 but expect to see a full year analysis in the coming weeks.

 

Recent Market Summary

  Oct Nov Dec
Closed Sales 378 308 290
Inventory 2,252 1,968 1,614
Median Sales Price $480K $435K $385K
Avg Days on Market 98 100 95
Avg % of Original Price 94% 94% 93%

 

Featured Search - Homes in Dennis

Stay up to date on the MA short term rental Tax

MA Short Term Rental Tax

Massachusetts Governor Baker recently signed into law a change to the taxable nature of short term rentals.  This affects many of the property owners on Cape Cod who rent for less than 31 days in the summer months.  Some relevant information can be found on the Massachusetts Association of Realtors website here but a quick synopsis is as follows:

Highlights:

New Tax Changes:

  1. State: 5.7%
  2. Local: up to 6% (6.5 for Boston)
  3. Cape Cod & Islands: includes additional 2.75% to fund Cape Cod and Islands Water Protection Fund 
  4. A community impact fee of up to 3% may be assessed locally on professionally managed properties (Owners of two or more units in one town)
  5. Takes effect July 1, 2019.  Bookings made before January 1st, 2019 are exempt.
  6. Realtors who manage the rental bookings and collect the rent will likely be responsible for collecting the tax.
  7. Guidance and more details will follow from the IRS and state authorities.

We'll be keeping a sharp eye on this matter and updating you when we learn more information.  As always feel free to contact us with questions about how this will impact your rentals or your property management needs.

December Market Update

November Review: 

   After a busier than usual late fall we are starting to see the seasonal cooling off around the holidays.  Closed sales, inventory and median sales price were all down in November as both sellers and buyers tend to back off this time of year.  We also note that with 5.8 months supply of inventory the market is healthier compared to November last year (5.3 months).  The strong economy and hints from the Fed that rate hikes may be slowing down is good news for a healthy local market.  However the low affordability index (meaning the median house price costs more than the median income can afford) continues to be a point of concern.

 

Recent Market Summary

  Sept Oct Nov
Closed Sales 370 378 308
Inventory 2,291 2,252 1,968
Median Sales Price $437K $480K $435K
Avg Days on Market 89 98 100
Avg % of Original Price 95% 94% 94%

 

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October Market Update 2018

September Review:

September saw further gains in inventory with 6.7 months supply of single family homes.  Since September and October generally experience the last of the summer listing frenzy before the winter slump and, with the rising interest rates and other market trends leading towards a more buyer favored market, the growth in inventory may continue into October at least.  Median sales price continues to move upward compared to last year and, as a point of growing regional concern, the affordability index for Barnstable County continues to trend downwards.  

Recent Market Summary

  July Aug. Sept.
Closed Sales 330 358 370
Inventory 2,071 2,182 2,291
Median Sales Price $440K $420K $437K
Avg Days on Market 83 90 89
Avg % of Original Price 96% 95% 95%

 

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Market Update July 2018

June Review: The numbers for June continue the ongoing trends... compared to last year, median sales price of single family homes is up 10%, days on market is down 20% but inventory is even for the first time since 2009.  Additionally, when we look at the first 6 months of 2018, months supply of inventory is up 40% from January, which may indicate gains in inventory coming over the next few months.  Sellers were still favored in the June market but with months supply of inventory at 5.9, we could be at an inflection point.

 

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What's New in Barnstable County?  Find out here

Recent Market Summary

  April May June
Closed Sales 329 399 413
Inventory 1,755 1,924 1,992
Median Sales Price $399,000 $429,000 $438,320
Avg Days on Market 108 114 95
Avg % of Original Price 96% 95% 95%