Cape Cod Real Estate | Landvest Blog

Dec

Cape Cod Real Estate News: High-End Real Estate Market Watch Q3 2011
By LandVest

Cape Cod is internationally famous as a summer resort area and is increasingly popular for retirement living. It features miles of beaches, natural attractions, historic sites, art galleries, and four star restaurants and hotels. Outdoor activities include world class yachting, coastal and deep-sea fishing, numerous public and private golf courses, and a wide variety of other informal summer sports. The Cape is just 75 miles from Logan Airport in Boston, Massachusetts and T.F. Green Airport in Providence, Rhode Island. Executive jet services are available at the Hyannis airport and there are several other smaller airports. Cape Cod is divided into four regions: Upper Cape, Mid Cape, Lower Cape, and Outer Cape, each including several towns and villages. Upper Cape towns include Bourne, Sandwich, Falmouth, and Mashpee. Mid Cape towns include Barnstable, Dennis, and Yarmouth. Lower Cape towns include Harwich, Brewster, Chatham, and Orleans. Outer Cape towns include Eastham, Wellfleet, Truro, and Provincetown.

Active Listings and Sales, $2,000,000+, First Three Quarters, 2000-2011

On Cape Cod, Massachusetts, the inventory of high-end listings in the first three quarters of 2011 shrank 14% from 271 listings at the end of June to 233 listings at the end of September. Typically the listing inventory grows through the first three quarters and then declines in the fourth quarter as sales are closed and properties are taken off the market. This unusual trend is likely a combination of properties being repriced below our high-end cut-off of $2,000,000 as well as sellers taking properties off the market.

High-end sales declined from 38 in the first three quarters of 2010 to 33 in 2011. The peak level of sales for this time of year was 60 sales in the first three quarters of 2006. Third quarter performance has been flat for the past four years with 13 sales in the third quarter of 2011 and a peak of 23 sales in the third quarter of 2007. The very high-end inventory is also shrinking, but remains large by historical standards. There are 29 listings over $5 million and 8 over $10 million with 6 sales over $5 million and 1 sale over $10 million in the first three quarters of 2011. Overall, the Cape Cod market continues to under perform, but anecdotal information from leading Cape Cod brokers and LandVest’s own recent experience suggests that there is a modest, but noticeable increase in buyer inquiries and showings. Across New England LandVest brokers continued to report an upsurge in activity in our markets and sporadic signature sales throughout the summer and early fall.

Highest and Median Sale, $2,000,000+, First Three Quarters, 2000-2011

In the third quarter of 2011 the very high-end on Cape Cod came alive with three sales above $5 million. The top sale was $11.6 million for an 11,500 square foot residence with waterfront in the Seapuit neighborhood of Osterville. There were two additional top sales in Osterville in the third quarter. 861 Seaview Avenue for $5,265,000 and 395 Eel River Road for $6,500,000. In Chatham, 74 Sears Point Road sold for $6,500,000.

The median value for high-end sales in the first three quarters of 2011 was $2.8 million, about on par with median sale prices over the past decade. The high-end market on Cape Cod is predominately in the $2-$3 million range. In the first three quarters of 2011, there were 33 sales above $2.0 million. Of these sales 20 of 33 were between $2 and $3 million and 25 of 33 were below $4 million.

Days on Market, Sales, $2,000,000+, First Three Quarters, 2000-2011

Days on market for high-end properties sold during the first three quarters of 2011 increased to 559 days compared to 533 days in the first half of the year and compared to the record of 589 days for the first half of 2010. For 2000-2009, the average days on market for sales in the first half of the year ranged from 90 to 226 days, generally increasing over time with a significant jump in 2010.

Sales by Town, $2,000,000+, First Three Quarters, 2000-2011

Starting around 2002 the high-end market on Cape Cod broadened as the perennial top markets were perceived as being too expensive and as buyers bid up the prices of special properties in other towns. By 2006, 13 of the 15 towns on Cape Cod were recording sales above $2 million. In the first half of 2010, however, there was a substantial contraction in the market with only 5 towns recording high-end sales. In the first half of 2011, the market had broadened again with an additional 4 towns recording single high-end sales and in the third quarter another 2 towns recorded high-end sales. Cape Cod towns with high-end sales in the first three quarters of 2011 include Barnstable (all Osterville) (11), Chatham (8), Orleans (4), Falmouth (2), Harwich Port (2), Brewster (1), Dennis (1), Mashpee (1), Provincetown (1), and Truro (1).

Mill Farm Waterfront Compound
in Yarmouthport, MA is currently for sale

Wychmere Waterfront Estate
in Harwich Port, MA is currently for sale

Cohasset Waterfront Estate
in Cohasset, MA is currently for sale

Fairview Waterfront Compound
in Woods Hole, MA is currently for sale

View Cape Cod Area Select Sales

To view available real estate on Cape Cod visit www.landvest.com or click Cape Cod Real Estate for Sale

For information about buying or selling real estate on Cape Cod, please contact Stewart Young at syoung@landvest.com or 617-357-8930

For additional information about LandVest’s real estate consulting, appraisal, and brokerage services, please contact: Ruth Kennedy Sudduth.

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Aug

Lighthouses of New England: Lighting Up Distinctive Waterfront Real Estate, Minot’s Ledge Light
By LandVest

Lighthouses of New England: Lighting up Distinctive Waterfront Real Estate, Minot’s Ledge Light, Cohasset, Massachusetts

Minot’s Ledge Light is famous for its highly exposed location on Minot’s Ledge, a 25-foot-wide rock ledge located approximately one mile offshore from the town of Cohasset. The ledge is part of the Cohasset Rocks, a reef extending for some two miles in a southwesterly direction off Cohasset and Scituate, Massachusetts. Completed in 1850, the original design of Minot’s Ledge was an iron pile structure with spider-like legs drilled into the rock below the water. A violent storm surged up the New England coast in April 1851, destroyed the lighthouse and killed the two keepers. In 1860 a sturdier 114-foot high cylindrical tower was constructed of interlocking granite blocks. It continues to operate as an active aid to navigation. The first 40 feet of the tower are solid granite surmounted by a storage level, living quarters, work space, and a second-order lantern. In May of 1894, a new flashing lantern was installed, with the characteristic of a one-four-three flash, which has been noted to reflect the same numerical count as the words “I love you”. This coincidence has lead some to refer to Minot’s Ledge as the “Lover’s Light.” Considered one of the greatest achievements in American lighthouse engineering, Minot’s Ledge Light was recognized as an American Society for Civil Engineering Landmark in 1997.

Minot's Ledge in Cohasset, MA is an historic landmark of significant engineering achievement.

Red Oaks and Beachside, two prominent homes in Cohasset that are now offered for sale by LandVest, feature dramatic views of the Minot’s Ledge lighthouse. From both homes, the lighthouse can been viewed in all seasons and enjoyed as a reminder of life near the sea.

Red Oaks is a spectacular colonial revival manor house on 7.9 acres of private waterfront property.

Beachside is a Nantucket shingle-style home with a private mineral spring's pool, overlooking the tranquility of Little Harbor.

Cohasset is located on Boston’s South Shore where Boston Harbor meets Massachusetts Bay. It covers nine square miles area in a setting of colonial homes and ocean vistas of spectacular beauty. The town is about 25 miles from Boston and is predominantly residential, many of its residents making the daily commute to Boston by commuter rail, car, or commuter boat from adjoining Hingham. Cohasset’s central village lies around a spacious common with a small pond, and includes specialty shops, the colonial First Parish Meeting House, and St. Stephen’s Church – a historic structure with a 56 bell carillon that has offered Sunday concerts since 1924.

This blog post was brought to you by Terry Boyle who assists buyers and sellers of distinctive and complex real estate transactions on the South Shore and South Coast/Buzzards Bay real estate markets of Massachusetts. Contact Terry Boyle (tboyle@landvest.com) in our Boston, Massachusetts office if you’d like to talk about this property or his other real estate listings in Massachusetts.

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Aug

Lighthouses of New England: Lighting Up Distinctive Waterfront Real Estate, Bird Island Lighthouse
By LandVest

Lighthouses of New England: Lighting up Distinctive Waterfront Real Estate: Bird Island Lighthouse, and Butler Point, Marion, Massachusetts

The historic Bird Island Lighthouse is the sole structure on Bird Island and sits as a sentinel at the entrance of Sippican Harbor and the coastal town of Marion Massachusetts. Bird Island itself is one of the smallest islands in Buzzards Bay, but has been a crucial feature for nautical navigation for centuries. The lighthouse tower is approximately 30 feet tall and has withstood hurricanes (including the famous 1938 storm), periods of neglect, and many ownership changes. Today, it is owned by the Town of Marion and the light now shines as a navigational aid, having been relit in 1997. The light is now solar powered and flashes for 0.6 seconds every six seconds. The island (with the exception of the tower) is open to visitors from September to May. It is closed from May through August during the nesting season of the endangered Roseate Tern. The island was added to the National Register of Historic Places in 1987.

Butler’s Point Waterfront, a new LandVest listing in Marion, features unobstructed panoramic views of Buzzards Bay and the Elizabeth Islands as well as dramatic views of the Bird Island lighthouse.

Spectacular view of Bird Island Lighthouse from Butler's Point Waterfront

The village of Marion is a quaint seaside community situated on Buzzards Bay and Sippican Harbor. It has both a summer and permanent resident population due to its proximity to the Boston area. It is famous as a yachting center and is home port for the world-renowned Marion to Bermuda sailing race and the Beverly Yacht Club. In addition, there are public and private golf and tennis clubs, including the highly regarded Kittansett Golf Club. Marion is home to Tabor Academy, a prestigious co-educational private school. Boston is approximately one hour away and Providence and Newport, Rhode Island are only forty-five minutes. There is easy access to Cape Cod, Martha’s Vineyard, and Nantucket.

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Aug

Lighthouses of New England: Lighting Up Distinctive Waterfront Real Estate, Nobska
By LandVest

Lighthouses of New England: Lighting up Distinctive Waterfront Real Estate, Nobska Light, Woods Hole, Falmouth, Cape Cod, Massachusetts

Nobska Lighthouse is located on the southeastern tip of Cape Cod in Woods Hole, a village in Falmouth, Massachusetts

Nobska Lighthouse is located on Cape Cod in Woods Hole, a village in Falmouth, Massachusetts. Since 1828 Nobska has provided a navigational beacon for boaters in the Vineyard and Nantucket Sounds and a warning about the dangers of Hedge Fence and L’Hommedieu shoals. Located 87 feet above sea level, the beacon’s flash every six seconds is visible 17 miles out to sea. The present tower is 42 feet high and was built in 1876 with a cast-iron shell lined with brick. Nobska was automated in 1985 and the two keepers’ houses were joined to create a residence for the commander of the U.S. Coast Guard Group Woods Hole and his family. The Nobska sight is an iconic milepost for the Falmouth Road Race and is the frequent site of weddings and other celebrations. Woods Hole has been described as being to scientists what Paris is to artists and is home to several world-class marine research organizations including the Woods Hole Oceanographic Institution and the Marine Biological Laboratory. It is also a very popular location for summer homes.

FAIRVIEW is spectacular waterfront compound just a few minute's walk from the Nobska lighthouse.

One of the most distinctive is Fairview, a seven-acre waterfront property on Little Harbor just around the point from Nobska.

View additional Cape Cod Real Estate for Sale

This post was brought to you by Stewart Young (syoung@landvest.com). Whether it’s an elegant Greek Revival in Lincoln, a 130 acre farm in Medfield, or a waterfront compound on Cape Cod, Stewart advises buyers and sellers of some of the most distinctive real estate in Massachusetts with a focus on the Metro West area of Boston and Cape Cod.

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Aug

Cape Cod Waterfront Real Estate for Sale
By LandVest

Cape Cod Waterfront Properties for Sale in Orleans, Yarmouthport, Marstons Mills and Falmouth

For more information click on photos or contact: Stewart Young – syoung@landvest.com or call 617-357-8930

Seven acres of privacy and magnificent views.

Viking Point

7 acres of panoramic views from Namequoit River to Little Pleasant Bay

74 Viking Road, Orleans, MA 02653

$7,500,000

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Cape Cod waterfront property with gentleman's farm on over 15 acres.

Mill Farm Waterfront Compound

15 acres

88 Mill Lane, Yarmouthport, MA 02675

$6,500,000

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Highpoint is an remarkable waterfront property in an exceptional location.

Highpoint Waterfront Compound

3.84 private acres with dramatic views of North Bay

345 Baxters Neck Road, Marstons Mills, MA 02648

$4,400,000

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Stylish contemporary on retreat-like 1 acre with deeded beach rights

Buzzard’s Bay Beach House

1.04 acres of retreat-like setting with deeded beach rights

23 Gray Lane, Falmouth, MA 02540

$1,400,000

This post was brought to you by Stewart Young (syoung@landvest.com). Whether it’s an elegant Greek Revival in Lincoln, a 130 acre farm in Medfield, or a waterfront summer estate on Stage Harbor in Chatham, Stewart advises buyers and sellers of some of the most distinctive properties in Massachusetts with a focus on the Metro West area of Boston and Cape Cod.

Click here for Stewart Young contact info

Click here to view more Cape Cod Real Estate for Sale

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Aug

Cape Cod Real Estate News: High-End Market Watch, First Half, 2010-2011
By LandVest

Cape Cod is divided into four regions: Upper Cape, Mid Cape, Lower Cape, and Outer Cape, each including several towns and villages. Upper Cape towns include Bourne (which includes the Wings Neck area of Pocasset), Sandwich, Falmouth, and Mashpee. Mid Cape towns include Barnstable (which includes the village of Centerville) , Dennis, and Yarmouth. Lower Cape towns include Harwich, Brewster, Chatham, and Orleans. Outer Cape towns include Eastham, Wellfleet, Truro, and Provincetown.

Active Listings and Sales, $2,000,000+, First Half, 2000-2011

On Cape Cod, Massachusetts, the inventory of high-end listings in the first half of 2011 grew to a record level for this time of year (a 15% increase to 271 listings vs. 248 at the same point in 2010). At the very high-end, there are 39 listings over $5 million and 9 over $10 million.

First half high-end sales declined from 24 in the first half of 2010 to 20 this year. The peak for first half sales was 44 sales in 2006. Last year the second quarter 2010 performance surged giving some hope of a recovery in the high-end market. This year the second quarter has lagged by 26% compared to the second quarter of 2010. Overall, the Cape Cod market continues to underperform, but anecdotal information from leading Cape Cod brokers and LandVest’s own recent experience suggests that there is a modest, but noticeable increase in buyer inquiries and showings. Across New England LandVest brokers reported an upsurge in activity in March and April across our markets and sporadic signature sales throughout the spring and early summer.
Highest and Median Sale, $2,000,000+, First Half, 2000-2011

In the first half of 2011 the top sale on Cape Cod was $6.2 million for a beachfront property on North Bay Road in the Oyster Harbors community of Osterville that was on the market for 615 days. The next highest sale was $5,500,000 for a beachfront property on Sea View Avenue in the village of Wianno, also in Osterville, with 652 days on market. The median value for high-end sales in the first half of 2011 was $2.7 million, about on par with median sale prices over the past decade. In the first half of 2010, the median sale was $3.6 million due to an unusual number of higher valued sales. The high-end market on Cape Cod is predominately in the $2-$3 million range. In the first half of 2011, there were 20 sales above $2.0 million. Of these sales 13 of 20 were below $3 million and 17 of 20 were below $4 million.

Days on Market, Sales, $2,000,000+, First Half, 2000-2011

Days on market for high-end properties sold during the first half of 2011 were reduced modestly to 533 days compared to the record of 589 days for the first half of 2010. For 2000-2009, the average days on market for sales in the first half of the year ranged from 90 to 226 days, generally increasing over time with a significant jump in 2010.

Sales by Town, $2,000,000+, First Half, 2000-2011

Starting around 2002 the high-end market on Cape Cod broadened as the perennial top markets were perceived as being too expensive and as buyers bid up the prices of special properties in other towns. By 2006, 13 of the 15 towns on Cape Cod were recording sales above $2 million. In the first half of 2010, however, there was a substantial contraction in the market with only 5 towns recording high-end sales. In the first half of 2011, the market had broadened again with an additional 4 towns recording single high-end sales. Cape Cod towns with high-end sales in the first half of 2011 include Barnstable (Osterville) (6), Chatham (3), Orleans (3), Falmouth (2), Harwich Port (2), Dennis (1), Mashpee (1), Provincetown (1), and Truro (1).

Viking Point in Orleans, MA is currently for sale

Mill Farm Waterfront Compound in Yarmouthport, MA is currently for sale

Highpoint Waterfront Compound in Marstons Mills, MA is currently for sale

Masthead in Provincetown, MA is currently for sale

View Cape Cod Area Select Sales

To view available real estate on Cape Cod visit www.landvest.com or click Cape Cod Real Estate for Sale

For information about buying or selling real estate on Cape Cod, please contact Stewart Young at syoung@landvest.com or 617-357-8930

For additional information about LandVest’s real estate consulting, appraisal, and brokerage services, please contact: Ruth Kennedy Sudduth.

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Jun

Cape Cod Real Estate News: Masthead, Provincetown Business/Development Opportunity
By LandVest

The Masthead real estate offering includes 7 lots, 7 shingled buildings and one of the areas largest private wharfs all located within walking distance of Provincetown center.

The Masthead on the Waterfront in Provincetown: Unique in History and Unique in Development Opportunity

The Masthead is the only waterfront property in Provincetown with extensive lawn and landscaped grounds between the houses and the waterfront.

The Pilgrims were the first tourists to appreciate the charms of Provincetown when they landed on November 1, 1620 at a point halfway across the harbor from Long Point and the Masthead at low tide. Surrounded by water on three sides and 70 miles out to sea, Provincetown is a world apart. From the Masthead deck one can see 3 of the 7 existing Cape Cod lighthouses. Long Point Light, built in 1826 sits at the very tip of Cape Cod due east from the Masthead. Wood End Light, built in 1872, is located to the south southwest and stands on the beach connected to Long Point. Highland Light, built in 1797 is located in Truro also to the east. This is the first light to be seen by transatlantic liners approaching the U.S.

Provincetown was a major whaling port in the 1800s and today is the whale watching capital of the U.S. with 7 boats making numerous daily trips. (Visit http://ptownchamber.com/ for more info on events and activities)
The harbor and Cape Cod Bay are ideal for sailing and the West End Racing Club, 3 blocks east of the Masthead, provides instruction and programs for all ages. Golf and tennis are nearby as is bottom and deep sea charter fishing, National Seashore dune rides, horseback riding, and kayaking.
Drawn by the special light reflected from the ocean, sand dunes, and sky, Provincetown has been a mecca for artists for more than 100 years. Charles Hawthorne, who is considered the founding father of art in Provincetown, established the Cape Cod School of Art in 1899. Since that time outstanding painters, writers, and scholars such as Motherwell, Hoffman, Kline, Mailer, Kunitz and others have created a vibrant community.

The Masthead boasts one of the area's largest private wharfs, and a 450± foot sun deck

The history of the Masthead dates back to 1818 when a colony of homes was built on Long Point. Dismantled due to lack of fresh water and exposure to the elements, the houses were floated to Provincetown and one of the houses became part of the Masthead at 37 Commercial Street. Edith Hendricks acquired part of the property in the early 1920s and operated a well known antiques shop, The Old Furniture Shop. She willed the property to Arthur Anderson, a Swedish carpenter who came to this country to work for her as an apprentice. Mr. Anderson acquired and renovated neighboring buildings and created the Masthead which he operated along with the antique shop from 1932 to 1959 when it was purchased by John Ciluzzi, an executive with the international sales division of Ford Motor Company.

The Masthead has entertained kings, queens, royalty, ambassadors, and notables from all walks of life.

Formally known as the Masthead Resort, this unique property is one of the largest waterfront properties in Provincetown.

Currently operated as a motel (visit: www.themasthead.com for rental info) by the Ciluzzi family since 1959, the Masthead has entertained kings, queens, royalty, ambassadors, and notables from all walks of life. Many of the rooms are named for their famous guests. For example, the Isabella Rossellini cottage overlooks Provincetown Harbor and was her home for two months while shooting a film on location. Other famous guests include Christie Brinkley, Enrico Caruso, Prince Dijambani of Iran, Dolores Hope, Billy Joel, and Helena Rubenstein,

After 52 years of operating the Masthead, the Ciluzzi family has decided to sell. The property consists of 7 buildings with 8,980 square feet of living space on 7 waterfront lots. Unlike typical waterfront properties along Commercial Street, which have little or no yard between the house and the seawall, the Masthead has a substantial lawn with gardens and a 450 foot sun deck and a pier. This offering represents a once in a lifetime opportunity to acquire one of the most significant residential waterfront properties in Provincetown with the potential for significant development and appreciation.

For more information vist The Masthead property website or contact Stewart Young (syoung@landvest.com)

This post was brought to you by Stewart Young (syoung@landvest.com). Whether it’s an elegant Greek Revival in Lincoln, a 130 acre farm in Medfield, a waterfront summer estate on Little Harbor in Woods Hole or a Motel situated on prime waterfront real estate in the heart of Provincetown, MA Stewart advises buyers and sellers of some of the most distinctive properties in Massachusetts with a focus on the Metro West area of Boston and Cape Cod.

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May

Cape Cod Real Estate News: Historic House For Sale in Falmouth, MA -Birthplace of Katharine Lee Bates
By LandVest

This post was brought to you by Stewart Young (syoung@landvest.com). Whether it’s an elegant Greek Revival in Lincoln, a 130 acre farm in Medfield, or a waterfront summer estate on Little Harbor in Woods Hole, Stewart advises buyers and sellers of some of the most distinctive properties in Massachusetts with a focus on the Metro West area of Boston and Cape Cod.

Katharine Lee Bates House in Falmouth, MA is currently for sale

Katharine Lee Bates was born in this house at 16 Main Street, Falmouth, Massachusetts in 1859 and is most famous as the author of the lyrics for America the Beautiful. Given her early years in Falmouth, one can’t help but wonder if the local water views inspired some of the lines of her famous poem. She reported that the words were inspired by a lecture trip to Colorado College in 1893 where Bates was awed by the view from the summit of Pike’s Peak.

Bates was a resident of Falmouth until the age of twelve. She was an intrepid scholar, a member of the second class to graduate from Wellesley College. She was president of her class. She also spent a year studying at Oxford University before settling in to teaching in New England. She went on to distinguish herself in academia beginning at Natick High School, then Dana Hall School, and finally at Wellesley College where she became head of the English Literature Department in 1891. Bates died at the age of 69 in 1929, an accomplished author of poetry, travel and children’s books; an educator; a humanitarian; and a member of the League of Nations.

This historic and completely renovated property was built ca. 1810. The property was purchased from the Falmouth Historical Society in 2008 and renovated from 2008-2010 to the highest standards by C.H. Newton Builders, Inc., one of the most highly regarded builders on Cape Cod and in greater Boston. The residence consists of 2,364 square feet of finished space with 4 bedrooms, 2 baths, new kitchen with top of the line appliances, new wiring and utilities including air conditioning, new cedar shake roof, insulation, and a new garage and storage building. The quarter acre lot features a gravel driveway to the back with extra parking and handsome landscaping. It is near the Falmouth village green and convenient to shops and restaurants. This is an ideal year round residence in a community that offers the best of year round and summer time amenities.

For more information about Katharine Lee Bates and Falmouth, click here to visit the web site of the Falmouth Historical Society

Click link for more information about the Katharine Lee Bates House including builder’s description of the renovations, found under property documents.

Click here to view properties for sale on Cape Cod.

Contact Stewart Young (syoung@landvest.com) in our Boston, Massachusetts office if you’d like to talk about real estate on Cape Cod or in the metro Boston area..

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May

Cape Cod Real Estate News: High-End Real Estate Market Watch Q1 2011
By LandVest

Cape Cod is internationally famous as a summer resort area and is increasingly popular for retirement living. It features miles of beaches, natural attractions, historic sites, art galleries, and four star restaurants and hotels. Outdoor activities include world class yachting, coastal and deep-sea fishing, numerous public and private golf courses, and a wide variety of other informal summer sports. The Cape is just 75 miles from Logan Airport in Boston, Massachusetts and T.F. Green Airport in Providence, Rhode Island. Executive jet services are available at the Hyannis airport and there are several other smaller airports.
Cape Cod is divided into four regions: Upper Cape, Mid Cape, Lower Cape, and Outer Cape, each including several towns and villages. Upper Cape towns include Bourne, Sandwich, Falmouth, and Mashpee. Mid Cape towns include Barnstable, Dennis, and Yarmouth. Lower Cape towns include Harwich, Brewster, Chatham, and Orleans. Outer Cape towns include Eastham, Wellfleet, Truro, and Provincetown.

Active Listings and Sales, $2,000,000+, First Quarter, 2000-2011

On Cape Cod, Massachusetts, the first quarter 2011 inventory of high-end listings grew as expected compared to year end 2010 and to a record level for this time of year (235 listings vs. 216 at the same point in 2010). First quarter high-end sales were flat, increasing to 6 from 5 in the first quarter of 2010. The peak for first quarter sales was 23 sales in 2008. 2010 first quarter sales were the lowest since 2002. Last year the first quarter 2010 performance lagged 2009 (5 sales vs. 8 in 2009), but surged ahead in the second and third quarters. LandVest brokers report a similar lag in vacation real estate sales attributed in part to severe weather in the first two months of the year, but also have report an upsurge in activity in March and April. A recent sale of a LandVest listing on Mount Desert Island, Maine for $15,000,000 and several other significant sales across LandVest’s markets are cause for optimism for the spring market.

Highest and Median Sale, $2,000,000+, First Quarter,

2000-2011

In the first quarter of 2011 the top sale was $3.5 million for a beachfront property on Fay Road in Woods Hole that was on the market for 681 days. The median value for high end sales in the first quarter of 2011 was $2.4 million, the lowest level since 2004.

Days on Market, Sales, $2,000,000, First Quarter,

2000-2011

Days on market for high-end properties sold during the first quarter of 2011 grew substantially to 577 days compared to 326 days for the first quarter of 2010. This is the highest first quarter average days on market in the scope of this report. For 2000-2009, the average days on market for sales in the first quarters of the year ranged from 99 to 342days.

Sales by Town, $2,000,000, First Quarter, 2000-2011

For the past few years the high-end market on Cape Cod has broadened as the perennial top markets have been perceived as being too expensive and as buyers have bid up the prices of special properties in other towns. While the volume in the first quarter of 2011 is small, the geographic spread continues to be broad. Cape Cod towns with high-end sales in the first quarter of 2011 include Harwich Port (2), Barnstable (Osterville) (1), Chatham (1), Falmouth (1), and Truro (1). In 2006, 10 of the 15 Cape Cod towns had high-end sales in the first quarter.

For additional information about the Cape Cod, MA Real Estate Market, or if you are interested in buying or selling real estate on Cape Cod, contact Stewart Young, syoung@landvest.com

Click to view Cape Cod Real Estate for Sale

The LandVest High-End Market Watch is a periodic review of select high-end markets in Maine, New Hamshire, Vermont, and the Adirondacks. Market Data is collected from Multiple Listing Services and do not include private listings. LandVest makes no representation as to the accuracy of this data, and therefore is not responsible for any actions taken as a result of use or reliance on this information.

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May

LandVest Listings Featured in Ocean Home Magazine’s Top 25 Coastal Homes in US
By LandVest

Anyone familiar with the type of properties that LandVest represents will not be surprised that of the “Top 25 Finest Oceanfront Homes for Sale from Hawaii to Maine” featured in Ocean Home Magazine this month, 6 were LandVest listings. LandVest specializes in marketing the best properties in the very best locations, so, it’s not surprising that the editors of Ocean Home Magazine chose to feature these spectacular listings, as they are some of the best New England real estate properties currently on the market. In fact, LandVest is frequently called upon by editors of well read and highly esteemed publications to offer up our most spectacular real estate listings to be featured in their version of the “Best of the Best” real estate articles. Be it a Wall Street Journal House of the Day or New York Times article featuring the Best New England Real Estate, or the Week Magazine featuring various “Best Homes on the Market with…” a 100 acres, or grand entrances… you are likely to see a LandVest listing.

In the May/June issue of Ocean Home Magazine the following “Best of New England”, real estate listings were featured in their “Top 25 Oceanfront Homes”:

Best Real Estate Northeast Harbor, Maine:

Sound Edge $6,900,000, listed by Story Litchfield, of LandVest – Northeast Harbor, Maine (slitchfield@landvest.com)

Sound Edge in Northeast Harbor, Maine is a totally restored summer cottage on 1.4 acres of land along the shores of Maine's Somes Sound

Indian Head (under agreement) listed by Story Litchfield, of LandVest – Northeast Harbor, Maine (Slitchfield@landvest.com)

Indian Head in Northeast Harbor, Maine (under agreement) takes full advantage of its spectacular location offering panoramic ocean, island, and mountain views.

Best Real Estate, St. George, Maine:

Davis Island, $4,950,000 listed by Terry Sortwell, LandVest – Camden, Maine (tsortwell@landvest.com)

Aerial view of Davis Island, St. George, Maine. This 48-acre island offering includes an estate that comprises a residence, guest house, boat barn, two docks, and observatory that offers 360 degrees of ocean viewing.

Best Real Estate, Edgartown, Massachusetts:

Edgartown Beachfront, $19,500,000 Edgartown, MA listed by Gerret Conover and Thomas LeClair, LandVest – Martha’s Vineyard, MA (gconover@landvest.com, tleclair@landvest.com)

Edgartown Beachfront, a modernized 18th-century estate, includes seven double bedrooms, and one single bedroom all with their own distinctive charm. This property is privately set with approximately 300 feet of sandy beach.

Best Real Estate, Gloucester, Massachusetts:

Red Gable, Gloucester, Massachusetts $3,800,000 listed by Lanse Robb, LandVest – Boston, MA

Red Gable, a fully renovated 1880 oceanfront home, sits on .5 acres of Coffin Beach, at the northwestern tip of Cape Ann. Ocean views abound from nearly every room of this elevated, 5-bedroom home.

Best Real Estate, Harwich Port, Massachusetts:

Wychmere Waterfront Estate, Harwich Port, MA $14,500,000 listed by Stewart Young, LandVest – Boston, MA

Wychmere Harbor in Harwich Port, MA is a 9,000 square foot, custom built and landscaped home on approximately 3.6 waterfront acres.

Click to read the LandVest listing excerpts in Ocean Home Magazine

To view the entire article featuring the best oceanfront homes for sale in the 15 featured states of CA, CT, FL, GA, HI, ME, MA, NC, NY, OR, RI, SC, TX, VA, WA pick up a copy on newstands or visit Ocean Home Magazine’s website.

View additional “Best” real estate by visiting www.landvest.com

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