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Third Quarter Sales Activity Report

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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).

The following charts compare year-to-date sales figures with the same period last year and report on the average Days on Market of the property that sold.

Provincetown

Sold 1/1/08 - 9/30/08

Sold YTD

2009

Current Inventory

Pending

DOM/Sold

2009

Single Family

25

13

57

11

325

Condos

97

55

185

30

198

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

Sold 1/1/08 - 9/30/08

Sold YTD 2009

Current Inventory

Pending

DOM/Sold 2009

Single Family

33

15

95

8

282

Condos

18

15

51

6

182

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

Sold 1/1/08 - 9/30/08

Sold YTD 2009

Current Inventory

Pending

DOM/Sold 2009

Single Family

24

24

87

16

184

Condos

5

15

30

6

178

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.