Cape Cod News

Cape Cod Real Estate Market Update June 2019

May Review:

  Year over year the inventory is up 6.1% and has also been steadily increasing since January.  With new listings down from last year and flat compared to last month we will be keeping an eye on how this will affect inventory going forward though.  What will also be influencing the market for the foreseeable future is the incredibly low mortgage rate.  At the time of writing Cape Cod Five and the Cooperative Bank of Cape Cod both have their 30 year fixed mortgage rates at 3.875%, which is exceptionally low and certainly an aid to buyers.  Furthermore the median price for single family homes is essentially flat from this time last year and only slightly up from last month.  Do we know what the future holds?  Nope.  But we can say that right now the market is fairly well balanced between buyers and sellers which means it is a good time to both sell and buy.

 

Recent Market Summary

  Mar Apr May
    Closed Sales   291   331   441 
   Inventory    1,837   1,982   2,032 
   Median Sales Price   $421.5K     $425K     $427K  
   Avg Days on Market   120   120   101 
   Avg % of Original Price   93%   94%   95% 

 

    Rainy Day Activities: Spring Cleaning   

    Check out a video clip featuring Paul and Dennis'   

    initiative to keep the beaches clean   

      

Memorial Day 2019 Cape Cod Events

Thank you to all of the men and women who served in the armed forces.  Here is a brief list of events this weekend on Cape Cod.

Saturday

Operation Flags for Vets: 10 a.m. Saturday, Massachusetts National Cemetery, Bourne.

Sunday

Massachusetts National Cemetery Memorial Day Program: 1 p.m. Sunday, off Connery Avenue (at flagpole and memorial path), Bourne.

12th Annual Troops in the Spotlight Event: Kmart Plaza, 790 Iyannough Road, Hyannis. Opening ceremony, 11:30 a.m. Sunday, featuring special honor ceremony for Vietnam vets at 2 p.m.; flag-lowering ceremony and playing of Taps, midnight. Closing ceremony 11 a.m. Monday. www.capecod4thetroops.com.

Monday

Brewster: Veterans of Foreign War No. 9917 parade beginning at noon on Route 6A from Brewster Baptist Church to the Council on Aging.

Centerville: Memorial Day pancake breakfast, 8 to 11 a.m. Monday, Our Lady of Victory Hall, 230 South Main St., Centerville. $7, $4 children under 12, free ages under 3. www.centervillecivic.org/pancakebreakfast.html.

Chatham: Participants will assemble at Veterans Field Road parking lot at 9:30 a.m. and begin walk to five memorial sites at 9:55 a.m., with each stop featuring brief ceremony, wreath placement, rifle salute and playing of taps. Ceremony will be at 10 a.m. in Community Center, 702 Main St.

Dennis: Parade will assemble at 8:45 a.m. and step off at 9:30 a.m. from corner of Signal Hill Road and Route 6A and proceed to Dennis Village Green, where program with speakers and music by Dennis-Yarmouth Regional High School Band will begin at 10 a.m. (If inclement weather program to be held at Dennis Senior Center, Route 134, East Dennis).

Eastham: Ceremony to commemorate veterans from families of Eastham will begin at 9 a.m. on Windmill Green, across from Town Hall, 2500 Route 6. Master of Ceremonies: Dave Schropfer. Will feature readings and participation by Eastham Police and Fire departments and U.S. Coast Guard Auxiliary.

Falmouth: March from Village Green to Falmouth Public Library, 300 Main St., will begin at 9:45 a.m., with ceremony at 10 a.m. Keynote speaker: retired Air Force Lt. Col. Elizabeth S. Sweeney.

Harwich: Ceremony will begin at 9:40 a.m. at Brooks Park, Harwich Center. Music by Harwich Town Band.

Hyannis: John F. Kennedy Memorial Trust Fund Committee’s annual Memorial Day ceremony will begin at 12:15 p.m. at John F. Kennedy Memorial, Ocean Street, Hyannis. Includes Cub Scouts from Pack 54, Barnstable Police Department Honor Guard and other special guests. The 2016 JFK Memorial Trust Fund Scholarship will be awarded to a Barnstable High School graduate.

Mashpee: Ceremony will begin at 10 a.m. at Mashpee Community Park and Veterans Garden, Main Street and Great Neck Road North.

Orleans: Ceremony will begin at 10 a.m. at Orleans Yacht Club, Cove Road.

Provincetown: Ceremony will begin at 11 a.m. at Doughboy Monument by Town Hall. Presentation of the colors by U.S. Coast Guard Station Provincetown.

Sandwich: Annual American Legion Post 188 Memorial Day parade will form at 9 a.m. and step off at 10 a.m. at Henry T. Wing School, 33 Water St.

Wellfleet: Program will run from 8:30 to 10:30 a.m. in front of Town Hall, 300 Main St., sponsored by American Legion Post 287.

Yarmouth: Ceremony will begin at 11 a.m. at Yarmouth Town Hall front lawn, 1146 Route 28, South Yarmouth.

And thank you to Cape Cod Online for compiling these events

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Cape Cod Open Houses Weekend 3/30-3/31 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.

 

Sunday 11-2 | 15 Ocean Ave Harwich Port | Featured Cape House Hunt in the Cape Cod Times

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.

 

*NEW TO MARKET* | Saturday 10-12 | 560 Millstone Road Brewster

This light and bright ranch checks all the boxes - 3 good sized bedrooms, en-suite master bath, 2 car garage, full basement, gas generator, fireplace, irrigation, gleaming hardwood throughout. Walk-up attic offers many possibilities. Perfectly located less than 2 miles to Brewster's fantastic beaches and across the street from Nickerson State Park with trails, camping, fishing and more. Nicely situated far off the road on an attractive 1.4 acre wooded lot. Exceptionally well maintained and very lightly used since it was built in 2002. Nothing to do but move in and enjoy.

 

 

 

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%

 

Blog - Top 5 things to do on a rainy day on Cape Cod

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%

 

Blog - Avoiding Fresh Paint Smells

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%

 

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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.