Third Quarter Activity Report

The summer real estate market picked up markedly beginning in June and July, resulting in many third quarter sales. Many buyers, who had been waiting out the market for the past few years, came off the sidelines this summer and decided to buy. Low interest rates and the first time homebuyer credit have also helped to spur activity. The general feeling is that the market has leveled off and is not expected to drop significantly further. Despite the increased summer activity, the number of sales in Provincetown and Truro are still down about 50% off of last year’s figures while Wellfleet held fairly even with last year’s sales (which had already suffered a large decrease over the previous year).

Check out the "Real Estate Blog" on our Web site for charts compare year-to-date sales figures for Provincetown, Truro and Wellfleet with the same period last year and report on the average Days on Market of the property that sold.

Provincetown

The most active segment of the condominium market has been in the $300K - $600K range, which is accounts for 36 of the 55 sales and comprises 16 of the 30 pending sales. In the single family market, most of the activity is in the $750K and under market, with 9 sales thus far in this category and 6 more pending.

Truro

Most of the activity in Truro is in lower priced single family homes. 8 of the 15 sales were under 600K. 3 Sales were between 600K-800K and 4 were over 1M. There have been no sales this year between 800K – 1M.

Wellfleet

In Wellfleet, interest in single family homes comprises most of the activity in this market. The heaviest concentration of sales has been between 300K-600K, with all of the sales being under 900K.