Blog :: 01-2010

Truro 2009 Year End Sales Report

  • By
  • Posted

This week, we review Truro's final sales figures from MLS along with a comparative analysis of this year in relation to the prior two years.   Our data comes from the Multiple Listing Service and does not include private sales.  The vast majority of sales that occur in this market are MLS sales.

There were 58 properties sold in Truro in 2009 with a total sales volume of $28,710,230. There were 74 properties sold in Truro in 2008 with a total sales volume of $42,903,850. There were 61 properties sold in Truro in 2007 with a total sales volume of $36,974,833.

Table 1:  Number of Properties sold with Median Sale prices. The median reflects the sales price that is exactly in the middle of all the figures for that category.  For example, if 26 properties sold, 13 were priced above the median, and 13 were priced below the median.

2009 # Properties Sold/Median Price

2008 # Properties Sold/Median Price

2007 # Properties Sold/Median Price

Single Family

29 / $542,180

44 / $605,400

33 / $587,500

Income/Multi Family

----

----

1 / $600,000

Lots and Land

4 / $197,500

7 / $640,000

5 / $360,000

Comm/Indust/Bus

1 / $385,000

----

1 / $4,525,000

Condominium

24 / $266,500

23 / $219,000

21 / $239,000

Hotel/Motel

----

----

----

TOTAL

58 Properties Sold

74 Properties Sold

61 Properties Sold

Table 2:  Average Days on Market of Sold Properties

2009

2008

2007

Single Family

231

251

185

Income/Multi Family

---

---

58

Lots and Land

450

531

328

Comm/Indust/Bus

150

---

589

Condominium

162

171

203

Hotel/Motel

---

---

---

Table 3: Percentage of Sale Price to List Price

2009

2008

2007

Single Family

89%

90%

93%

Income/Multi Family

----

----

100%

Lots and Land

96%

90%

93%

Comm/Indust/Bus

86%

----

70%

Condominium

92%

92%

92%

Hotel/Motel

----

----

---

Highs and Lows

The lowest priced condominium property to sell this year was a cottage located at 17 Shore Road which sold for $78,000. The unit is seasonal and has 168 SF. The lowest priced single family was located at 55 Shore Road and sold for $275,000.  It is a 73BR/2BA home with approximately 1659 SF and in need of a total renovation.

The highest priced condominium to sell was a seasonal cottage located at the newly constructed waterfront property, Seaside Condominiums, at 482 Shore Road.  The 878 SF waterfront unit with 1BR/1.5BA sold for $550,000.  The highest priced single family home to sell was the newly constructed single family compound, Arcadia, at 101 Prince Valley Road, located high on a bluff within the National Seashore.  The property consists of 3 BR main house with water views and a 2BR guest cottage. The property was on the market for 636 days.

Provincetown 2009 Year End Sales Activity

  • By
  • Posted

The year-end numbers are in!  We will review the final sales figures for Provincetown from MLS along with a comparative analysis of this year in relation to the prior two years.

Our data comes from the Multiple Listing Service and does not include private sales.  The vast majority of sales that occur in this market are MLS sales.

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

There were 151 properties sold in Provincetown in 2008 with a total sales volume of $88,098,251.*

There were 165 properties sold in Provincetown in 2007 with a total sales volume of $85,902,800.

* Sales figures exclude timeshare properties.

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

The median reflects the sales price that is exactly in the middle of all the figures for that category.  For example, if 26 properties sold, 13 were priced above the median, and 13 were priced below the median.

2009

# Properties Sold/Median Price

2008

# Properties Sold/Median Price

2007

# Properties Sold/Median Price

Single Family

25/$590,000

31 / $694,000

26 / $682,500

Income/Multi Family

8/$527,000

8 /  $925,000

9 / $1,000,000

Lots and Land

2/$235,000

2 / $387,500

1 / $525,000

Comm/Indust/Bus

5 / $265,000

3 / $720,000

7 / $500,000

Condominium

104/$371,500

105 / $340,000

122 / $386,000

Hotel/Motel

0/0

2 / $3,525,000

0 /  0

TOTAL

144 Properties Sold

151 Properties Sold

165 Properties Sold

Table 2:  Average Days on Market of Sold Properties

2009

2008

2007

Single Family

279

292

222

Income/Multi Family

115

362

336

Lots and Land

719

462

113

Comm/Indust/Bus

218

374

192

Condominium

213

155

167

Hotel/Motel

---

65

---

Table 3: Percentage of Sale Price to List Price

2009

2008

2007

Single Family

90%

83%

93%

Income/Multi Family

87%

84%

91%

Lots and Land

62%

89%

84%

Comm/Indust/Bus

76%

86%

88%

Condominium

93%

94%

94%

Hotel/Motel

---

78%

---

Activity Summary

During the first part of 2009, sales activity was extremely slow.  Following the collapse of Lehman Brothers and all the government bailout activity last fall, the real estate market in Provincetown was at a virtual standstill for early months of the year.  Sometime in June, however, the market came alive again, and sales activity ramped up and continued steadily until the end of the year.  83% of this year's sales occurred after June 1.

Highs and Lows

The lowest priced residential property to sell this year was a studio condominium 54 Bradford Street #2-3 at the Shank Painter Sails Condominiums in the center of town.  The unit has 280 SF and sold for $137,000.

The highest priced property to sell was a single family home at 9 Oppen Lane.  The property sits high atop a hill in the West End and offers nice privacy and some of Provincetown's most extraordinary views.  The house was gutted following a fire, and was purchased in an unfinished state.  It has 4BR and 3BA with 3666SF.  It sold for $1,600,000. Atlantic Bay Sotheby's proudly represented both the buyers and the sellers in this chart topping transaction.