Atlantic Bay Sotheby's Buyer Services

Sotheby's International Realty Launches New Website!

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We are pleased to announce the launch of the newly redesigned Sotheby's International Realty SIR.COM, which was built to showcase the network’s listings in an immersive and visual way that is unique to the industry.

“The new sir.com was created to tell the story of a home in a more editorial way, not the commoditized approach that can often be found in our industry,” said Wendy Purvey, chief marketing officer, Sotheby’s International Realty Affiliates LLC.  “We believe the art of marketing a home is based on showcasing its soul, so every aspect of the new site works toward this goal.”

The design changes include an increased focus on full-screen, high-definition video throughout the site, from the homepage to property detail pages, to allow for a more immersive consumer experience.  High-resolution photography also plays a more prominent role.  The property detail pages feature: slideshows that tell a home’s story via the captions, custom video, location overviews that provide insight into the local area via video and text, and a seller or expert quote that offers a personal view of the property.  

Consumers still can search for a home based on lifestyle and amenity but now have the ability to sort their results by various home features including pools, kitchens and views, and compare visual images of that feature among their search results. 

“At the foundation of the Sotheby’s International Realty brand is our focus on lifestyle,” said John Passerini, vice president of interactive marketing for the brand.  “Our lifestyle search is more visual, and our focus on video and photography allows our affiliates to showcase the various lifestyles a home offers that cannot be properly articulated in words only.  Our fully responsive site works on any mobile device and allows our network members to do what we believe they do best: uniquely showcase extraordinary homes around the world anytime, anywhere and in any language.”

“We are proud to be part of the Sotheby’s International Realty network and believe consumers worldwide will benefit from the groundbreaking features of the new brand website,” said Emily Flax, Broker and co-owner of Atlantic Bay Sotheby's International Realty. “The homes Atlantic Bay Sotheby’s International Realty represents in Provincetown, Truro and Wellfleet are unique, and the new sir.com allows us to showcase the heart of what makes them so special.”

Atlantic Bay Sotheby’s International Realty in Provincetown, MA, offers exclusive Sotheby’s International Realty marketing, advertising and referral services designed to attract well-qualified buyers to the firm’s property listings. In addition, the firm and its clients benefit from an association with the Sotheby’s auction house, which promotes real estate referral opportunities with auction house clientele.

As a Sotheby’s International Realty affiliate, the firm also has the unique ability to refer its real estate clientele to the auction house for jewelry, art, unique furniture and collectible appraisal services. Property listings from Atlantic Bay Sotheby’s International Realty also are marketed on the sothebysrealty.com global website, as well as on the firm’s local website, www.atlanticbaysir.com.

Atlantic Bay Sotheby’s International Realty is located at 168 Commercial Street, Provincetown.  For additional information, please contact 508-498-2430. The Sotheby’s International Realty network currently has more than 16,500 sales associates located in approximately 760 offices in 60 countries and territories worldwide.    Each office is independently owned and operated.

Provincetown Real Estate Sales 2012: The Year in Review

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The market is rebounding!  Provincetown Real Estate Sales volume for 2012 was up nearly 52% over 2011!!!  To follow, find the year-end statistics for Provincetown.  Our data comes from the Multiple Listing Service and does not reflect private sales.  However; in this market, the vast majority of sales are MLS sales.

There were 229 properties sold in Provincetown in 2012, with a total sales volume of $127,089,190.

There were 169 properties sold in Provincetown in 2011 with a total sales volume of $84,080,775.

There were 172 properties sold in Provincetown in 2010 with a total sales volume of $92,695,116.

There were 144 properties sold in Provincetown in 2009 with a total sales volume of $67,930,378.*

*Sales figures exclude timeshare properties.

Table 1:  Number of Properties sold with Average Sale prices.

2012# Properties Sold/Average Price 2011# Properties Sold/Average Price 2010# Properties Sold/Average Price 2009# Properties Sold/Average Price
Single Family 52 / $911,490 31 / $828,481 23/$1,086,804 25 / $718,284
Income/Multi Family 4 / $768,750 15 / $808,053 8/$719,563 8 /  $662,301
Lots and Land 3 / $248,333 4 / $465,750 6/$257,167 2 / $235,000
Comm/Indust/Bus 2 / $129,000 3 / $1,268,333 5 / $415,500 5 / $316,750
Condominium 166 / $420,721 113 / $400,170 124/$395,094 104 / $412,864
Hotel/Motel  2 / $2,887,000 3 /$1,093,000 6/$1,555,000 0 / 0
TOTAL 229 Properties Sold 169 Properties Sold 172 Properties Sold 144 Properties Sold

 

Table 2:  Average Days on Market of Sold Properties

2012 2011 2010 2009
Single Family 225 220 287 279
Income/Multi Family 79 310 186 115
Lots and Land 1450 444 498 719
Comm/Indust/Bus 266 202 343 218
Condominium 196 234 249 213
Hotel/Motel 750 231 550 -----

 

Table 3: Percentage of Sale Price to List Price

2012 2011 2010 2009
Single Family 87.66% 91.60% 90.66% 90%
Income/Multi Family 91.06% 91.06% 91.9% 87%
Lots and Land 57.44% 92.77% 66.77% 62%
Comm/Indust/Bus 86.32% 78.26% 88.7% 76%
Condominium 95% 94.08% 92.61% 93%
Hotel/Motel 91.65 90.86% 87.01% -----

Activity Summary

The market in 2012 was very robust!  Volume was up significantly over last year, percentage of sale to list price was up in the most active category of condominium sales, and average market times for condominiums shortened by 16% over last year.  Interest rates remained low all year, and played a large role in prodding buyers to come into the market.  Sales were also prompted by the fear of 2013 changes in capital gains tax and the onset of the  3.8% Medicare Surtax on Investment Income in 2013, resulting in a greater number of December sales than usual.

From our perspective,  the bottom of the market is in the rear view mirror.  Shorter market times, higher average sale prices, and lessening inventory are all relevant factors.

The total volume of MLS sales in 2012 was $127,089,190.  That is approaching the volume of Provincetown's highest volume year of 2005, which topped out at $139,366,255.  The number of properties sold this year, 229, exceeded the 228 that were sold in 2005.

Highs and Lows

The lowest priced residential condominium to sell last year was studio unit on Union Wharf in the West End . The unit has 150 SF and sold for $106,896.

The highest priced residential condominium was a free-standing, 2 bedroom/2.5 bath, waterfront townhouse at 79 Commercial Street, Unit #1. The unit has 1,600 SF and sold for $1,550,000.

The lowest priced single family residence to sell last year was a three bedroom house at 217 Bradford Street that needed a complete rehab. It has 1,140 SF and sold for $212,500.

The highest priced residence was an Atlantic Bay Sotheby's sale at 29 Commercial Street.  This is a spectacular four bedroom, 3.5 bath, bay-front home in a very desirable stretch of the West End waterfront. It has 2,940 SF and sold for $2,925,000.  We proudly represented the buyers and the sellers of this lovely property.

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Sotheby's International Realty Brand Introduces Luxury Website for Waterfront Market Segment

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Once again, we proudly distinguish ourselves from our competition by offering our seller clients a new website for marketing their waterfront property to an international audience of the world's most qualified buyers.  Sotheby's International Realty Affiliates LLC announced the launch last week of a Waterfront specialty market website, the second in a planned series of branded websites for specialty markets.

The specialized website, which can be found at waterfrontpropertysir.com, matches the look and feel of the brand's website, sothebysrealty.com, and provides detailed Waterfront lifestyle and listing information and resources. The website enables buyers and sellers to search for the finest properties in this segment and the sales professionals who represent them. It covers a full spectrum of lifestyle types and properties including: ocean and beach, riverfront, lakefront, island and boating. This site was launched with more than $13 billion of waterfront property listings worldwide. The website will also highlight notable sales in this segment.

"The Waterfront segment offers some of the most striking photography, making it a natural choice for a specialty market website," said Wendy Purvey, chief marketing officer, Sotheby's International Realty Affiliates LLC. "Waterfront is far and away the most searched lifestyle on sothebysrealty.com, so there is a great consumer fascination with this market. We will continue to enhance this specialty market website by adding custom content on waterfront living based on the body of water. For example, the site will convey what it is like living on an island in the Bahamas versus living on a lakefront in Italy or Minnesota."

In addition to searching for waterfront properties on this new site, our buyers can easily search for property on the outer Cape through our website, atlanticbaysir.com.  You'll find one-click links that will quickly do the searching for you, for example Provincetown Single Family homes, Provincetown Condos, Truro Single Family homes, B&B's and Inns for sale and many others.

The Sotheby's International Realty network currently has more than 12,000 sales associates located in approximately 625 offices in 44 countries and territories worldwide.

About Sotheby's International Realty Affiliates LLC 

Founded in 1976 to provide independent brokerages with a powerful marketing and referral program for luxury listings, the Sotheby's International Realty network was designed to connect the finest independent real estate companies to the most prestigious clientele in the world. In February 2004, Realogy Corporation, a global provider of real estate and relocation services, entered into a long-term strategic alliance with Sotheby's, the operator of the auction house. The agreement provided for the licensing of the Sotheby's International Realty name and the development of a full franchise system by Realogy's subsidiary, Sotheby's International Realty Affiliates LLC. Affiliations in the system are granted only to brokerages and individuals meeting strict qualifications. Sotheby's International Realty Affiliates LLC supports its affiliates with a host of operational, marketing, recruiting, educational and business development resources. Franchise affiliates also benefit from an association with the venerable Sotheby's auction house, established in 1744.

Sotheby's International Realty Brand Wins 'Best in Category' for Fifth Consecutive Year

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PARSIPPANY, N.J. (March 5, 2012) - Sotheby's International Realty Affiliates LLC today announced it won Franchise Business Review's Best in Category for Real Estate Franchisee Satisfaction award for the fifth year in a row. The Best in Category award measures franchisee satisfaction with their franchisors and is part of the 7th annual Franchisee Satisfaction Awards presented by Franchise Business Review. In addition to its real estate ranking, the brand also came in second overall among the Top 50 Large Franchise Systems, which is a ranking of all franchise systems with more than 200 units across all categories. "We are very proud to earn this honor for the fifth year in a row," said Michael R. Good, chief executive officer, Sotheby's International Realty Affiliates LLC. "We are dedicated to providing the best service we can to our valued network members, whom we hand select to affiliate with our brand. This recognition is a testament to the value we provide them in making their businesses more prosperous and successful." Franchise Business Review surveyed more than 22,000 franchisees from more than 300 leading systems for the 7th annual Franchisee Satisfaction Awards. Franchises were evaluated in five areas: training and support, franchise system, franchisor/franchisee relations, financial opportunity and overall satisfaction. Additionally, demographic and lifestyle questions gave a 360-degree view of the franchise ownership experience. Franchise Business Review is a national franchise market research firm that performs independent surveys of franchisee satisfaction and franchise buyer experiences. For a complete list of this year's award winners, go to www.FBR50.com. "What impresses me most about the Sotheby's International Realty brand is that they really 'get' the value of their franchisee satisfaction data," said Franchise Business Review president Michelle Rowan. "Despite being at the top of our awards list every year, they take the time to thoroughly digest their data and use it to improve their franchisee satisfaction year after year." The Sotheby's International Realty® network currently has nearly 12,000 sales associates located in approximately 590 offices in 44 countries and territories worldwide. About Sotheby's International Realty Affiliates LLC Founded in 1976 to provide independent brokerages with a powerful marketing and referral program for luxury listings, the Sotheby's International Realty network was designed to connect the finest independent real estate companies to the most prestigious clientele in the world. In February 2004, Realogy Corporation, a global provider of real estate and relocation services, entered into a long-term strategic alliance with Sotheby's, the operator of the auction house. The agreement provided for the licensing of the Sotheby's International Realty name and the development of a full Sotheby's International Realty Affiliates LLC 1 Campus Drive Parsippany, NJ 07054 ??? franchise system by Realogy's subsidiary, Sotheby's International Realty Affiliates LLC. Affiliations in the system are granted only to brokerages and individuals meeting strict qualifications. Sotheby's International Realty Affiliates LLC supports its affiliates with a host of operational, marketing, recruiting, educational and business development resources. Franchise affiliates also benefit from an association with the venerable Sotheby's auction house, established in 1744. For more information, visit www.sothebysrealty.com.