The Real Estate market for the first quarter of 2012 has been very active on the Outer Cape. Provincetown, Truro and Wellfleet have all been very busy with a lot of lookers and quite a few actually making purchases. The average and median selling prices are up from last year in all three towns as are the number of high end homes that have sold. There are also a large number of properties under contract across the towns – 43 in Provincetown, 18 in Truro and 26 in Wellfleet.
It appears that the buyers are returning to the market with enthusiasm. Continued low interest rates (again under 4% this week) and an improving economy and general optimistic view of the markets seem to finally be translating into sales. Interestingly the auto industry is seeing the same kind of trends right now, so this does appear to be part of a more broad recovery which is great news.
The charts below provide more detail on the sales and trends. Feel free to call or email with any comments or questions. You can view more info at www.chrisnaglerealestate.com/reports on the reports tab. Follow me on facebook at www.facebook.com/provincetown
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Sold Properties By City Provincetown, Truro, Wellfleet Jan 01 2012 – Mar 31 2012 |
| City | Num Sold Listings |
Num Active Listings |
Avg Listing Price |
Avg Selling Price |
Median Selling Price |
Selling % of Asking |
Avg Days on Market |
Avg Price per SqFt |
| Provincetown | 42 | 242 | $580,869 | $516,679 | $470,750 | 91% | 273 | $541 |
| Truro | 18 | 187 | $969,378 | $776,361 | $515,000 | 86% | 431 | $418 |
| Wellfleet | 12 | 130 | $504,567 | $481,208 | $482,500 | 94% | 428 | $345 |
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Sold Properties in Provincetown Jan 01 2012 – Mar 31 2012 |
| Property Type |
Num Sold Listings |
Num Active Listings |
Avg Listing Price |
Avg Selling Price |
Median Selling Price |
Selling |
Avg Days |
Avg Price |
| Commercial | 1 | 24 | $669,000 | $487,500 | $487,500 |
73% |
698 |
$558 |
| Condominium | 28 | 131 | $425,411 | $405,000 | $403,500 |
95% |
214 |
$568 |
| Lots and Land | 1 | 8 | $499,000 | $185,000 | $185,000 |
37% |
2,216 |
$0 |
| Single Family | 12 | 54 | $943,083 | $807,333 | $830,000 |
86% |
213 |
$476 |