Real Estate Market News

Summer Heat Adds Sizzle to Outer Cape Real Estate

Yes, I know, that title is a bit cheezy but it is true. We are now in the post- Fourth of July high season on the Outer Cape and the three towns we call home are buzzing with activity. From warm days at the beach and cookouts in the back yard, to art walks, lectures and plays, to trying out new shops and restaurants, visitors and residents alike are enjoying the most animated time of the year.

Amidst all this activity, of course, the beautiful scenery and light of the Outer Cape, inspire as much as, if not more than, ever. Even in the summer rush, there is always that glimpse of Ptown from Route 6 at Highhead or that sun-drenched pond in Wellfleet or the dunes at Longnook in Truro, which catch you and remind you of the unique beauty of our three harbors and the towns around them.

Some of that inspiration, which has fired the minds of visitors for decades, is manifested in the many mid-century modern homes and cottages built in parts of Truro and Wellfleet. A recent article in The Guardian describes several of the houses, which were built by some of the most respected architects of the post World War II era. A few are available for rent by visitors and are managed by the Cape Cod Modern House Trust.

Finally, please join 3Harbors at a "flash" Open House on July 8 from 3 - 5 pm at 33 Fisherman's Road in Truro. This is a bright and airy beach house, which is just a four minute walk from a private association beach on the bay side. It's a perfect spot for your own summer inspiration!

Spring Has Sprung Finally on the Outer Cape

One of the sure signs of spring on the Outer Cape is town meeting. The three Outer Cape towns, Truro, Provincetown and Wellfleet (each of which has one of the harbors from which make up the 3 Harbors name) retain the traditional New England form of town meeting, where residents vote directly on articles covering town budgets, zoning regulations and planning policies. Provincetown usually goes first and town meetings there tend to be spirited multi-evening affairs where passions can run high. Truro and Wellfleet meetings, which can also be enlived by spirited debate, usually only last one night. 

The Truro meeting this year featured an article to replace the existing by-law, which restricts occupancy of most condominiums to nine months of the year, with a by-law allowing condo associations to apply for year-round occupancy permits. Proponents of the change argued that allowing year-round occupancy would increase housing options for those looking to buy and live in something more affordable than a single family house.  Opponents worried about potentially greater demand for Town services and more intense use of our fragile water system. The proposed by-law was defeated so, as before, most Truro condos have to be closed for the winter. 

Another sure sign of Spring is that the boards have come off the windows of cottages, houses and business all over town. Provincetown, especially, is full of the sound of nail guns and construction crews completing Springtime renovations and repairs after the ravages of winter. Additionally, phones are ringing in real estate offices all over the Outer Cape as the better weather is bringing out a rush of buyers who want to see properties that just a few weeks ago were still covered in snow!

Some of our newer listings at 3 Harbors which are getting quite a bit of attention include:


 7 Erlinda


and 1 Nelson


60 Old Bay Road


34 Commercial Street 

Come on out and see these before they get snapped up!  Both the weather and the real estate market are definitely heating up!  Here's to an excellent spring time and an even more pheonomenal summer!!!


A Taste of Life on the Outer Cape During the Winter to End All Winters

Winter was pleasant and mild-- until the last week in January when, as anyone within shovelling distance of the East Coast knows, we got three major storms in less than three weeks.  As is the norm on the Outer Cape, we also got lashed by near hurricane force winds.  With the subsequent freeze-thaw cycles, back roads have turned into luge courses, with car tires sluicing deep ruts and undercarriages scraping on concrete ice.  The drama of the first, so far biggest, storm was captured on camera where the tide swept away dunes at Ballston beach.  The beach parking lot is now prime ocean-view! 

Image result for ballston break

The snow (we've also had a few "normal" snow falls between storms) has made getting around quite difficult.  Even with diligent plowing and clearing, driveways are slippery and buildings remain buried under huge piles of the white stuff.  This has played havoc with plans for showings-- even getting close to a property can be difficult.

.Image result for cape cod blizzards

Nick and John from our office in Truro learned this first had when they blithely planned to show a Truro property for another agent the Saturday after the first blizzard.  We all got there at the appointed time and driveway, lawn and walkway in front of the building were all buried under nearly three feet!  Somebody said "hey guys, why don't we try again in a few days?"  Well, over three weeks later, we're STILL unable to get to it.

Image result for cape cod blizzards

However, this is a realty blog, so we've got to tell you about this same property (we did see it before the storms).  It is a rare multi-use commercial opportunity in Truro Center at 1 Depot Road.  Until recently the property was used by Castle Hill Center for the Arts for faculty housing and studio space.  Known as Pamet Crossing, this is a multi unit property which is ripe for your imagination. A great investment opportunity, the property includes two retail/office spaces, a two bedroom apartment, a building once used as an ice cream shop and a garden center. Condo conversion is a rewarding possibility making this an excellent investment opportunity.  Here is a picture (taking NOT during the winter!) and more on the listing.

So, in between the snows, plows, checking generators, faxes from operators offering snow removal and roof clearing and general having had it up to here with the weather, there have just in the last few days been signs of change.  We're seeing more birds around and the sun (when it shines) feels much warmer than it did a few weeks ago.  Days are indeed getting longer-- even if at this writing it is a mere 14 degrees outside!

We hope you think about coming out soon for a visit.  We do get a little lonely this time of year on the Outer Cape.  But, seriously, spring is just a few weeks away, isn't it?  And we've got lots of lovely spots we'd love to show you that might just turn out to be your dream place on the Cape.  Well, assuming we can get to the front door through the snow...............

Accelerating Housing Market on the Outer Cape

A recent news story based on a report from the Warren Group, a Boston based firm that tracks the real estate industry, caught our eye.  It stated that real estate sales in the state for the month of October jumped twenty percent over last years' and that 2012 sales to date were now past the total for all of 2011.  We've been really busy too and it got us to check out the statistics for homes sales in Truro, Wellfleet and Provincetown.

The results surprised even us.  Based on MLS data, Wellfleet property sales in 2011 totaled $ 30,334,286 and as of 11/28/12 they are already at $39,519,155.  Truro's result for 2011 was $32,050,703 and we're presently at $45,869,180.  Provincetown, which has been experiencing a big bounce for some time saw sales totals of $84,270,775 and their number to date is $102,980.690. We typically see sales registering just before the New Year so these numbers could rise significantly.

While we have yet to see solid evidence of price increases in Truro or Wellfleet, Provincetown is certainly experiencing price jumps.  With rates so low, it really is time to move!


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              Provincetown Real Estate Market Re-Cap for 2011

              Real estate sales in Provincetown were strong in 2011.  Lured by low interest rates and lower prices, the town saw continued strength in the condo sector and an uptick in single family sales.  Here at 3Harbors, we've seen a significant increase in activity and there are indications that prices are starting to rise. Illustrating this trend, we put a small free standing one bedroom cottage on the market for $439,000 recently and we had it under agreement within 24 hours.