Cape Cod Real Estate | Landvest Blog

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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Feb

Cape Cod Real Estate News: High-End Market Watch
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, 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+, YEAR END, 2000-2010

On Cape Cod, Massachusetts, in 2010 the inventory of high-end listings grew to historic levels (204 listings vs. 185 at the same point in 2009), although 19% less than seen in the third quarter due to typical seasonal retrenchment. After a slow start, high-end sales in 2010 increased by 34% compared to last year (55 sales vs. 41 in 2009). While 2010 represents a significant improvement in sales volume, it remains 38% less than the peak of 88 sales in 2007. 2009 sales were the lowest since 2002. In June we reported seeing a burst of energy across LandVest’s markets and in the third quarter were cautiously optimistic. At year-end, sales results exceeded our expectations and 2011 is starting off with an upsurge in buyer activity, driven in part by pent-up demand among well-heeled buyers and in part by sellers who have adjusted their pricing to reflect the new realities of the market.

HIGHEST AND MEDIAN SALE, $2,000,000+, YEAR END, 2000-2010

Sale prices peaked in 2006 with a sale in Osterville at $12.5 million that remains the record sale for Cape Cod. In 2010 the top sale was $7.5 million for a LandVest private listing in Cotuit. The next three highest sales were $5.8 million for a property in Centerville that was on the market for 2,180 days starting at $9,800,000, $5.3 million for a property in Truro on the market for 1,124 days, and $5 million for a property in Chatham. The median value for high-end sales in 2010 was $2.6 million, down 7% from the same period in 2009, but the same as in 2008. Sale prices have been generally stable for the past 9 years. Curiously, the highest median sales values were in 2000 ($2,900,000) and 2001 ($3,000,000).

DAYS ON MARKET, SALES, $2,000,000+, YEAR END, 2000-2010

Days on market for high-end properties sold during 2010 grew substantially to 461 days compared to 251 days for 2009. This increase is skewed by the sale of the property in Centerville after 2,180 days, as well as several other properties selling after 3 years on the market. In 2006-2008, the average days on market for sales ranged from 218 to 264 days.

SALES BY TOWN, $2,000,000+, YEAR END, 2000-2010

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. In the first half of 2010, the market seemed to be contracting, but broadened in the third and fourth quarters. Ten Cape Cod towns had high-end sales in 2010 including the leader, Barnstable, (with 12 of the 19 sales in the village of Osterville), followed by Chatham (15), Falmouth (5), Harwich (4), Provincetown (4), Orleans (3), Bourne (2), Brewster (1), Truro (1), and Yarmouth (1). In 2006, 13 of the 15 Cape Cod towns had high-end sales.

The Masthead Waterfront Compound is currently available for sale in Provincetown

The Nantucket Sound Waterfront is currently available for sale in Centerville

Click for more information about 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 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 Cape Cod, the Metro West area of Boston. View Stewart’s current Real Estate listings.

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Jan

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

Active Listings and Sales, $2,000,000+, Q1-Q3,
2000-2010

On Cape Cod, Massachusetts, in the first three quarters of 2010 the inventory of high-end listings grew to historic levels (252 listings vs. 211 at the same point in 2009). Q1-Q3 high-end sales increased by 27% compared to last year (38 sales vs. 30 at the same point in 2009). The peak for Q1-Q3 sales was 60 sales in 2006. 2009 sales were the lowest since 2002. It is interesting to note that the first quarter 2010 performance was lagging 2009 (5 sales vs. 8 in 2009), but surged ahead in the second and third quarters. In June we reported seeing a burst of energy across LandVest’s markets and the positive trends continue. We are cautiously optimistic that the reminder of the year will see increasing activity in the high-end market.

Highest and Median Sale,
$2,000,000+, Q1-Q3, 2000-2010

Q1-Q3 sale prices peaked in 2006 with a sale in Osterville at $12.5 million that remains the record sale for Cape Cod. In 2010 the top sale to date is $7.5 million for a LandVest listing in Cotuit that sold for $1,500,000 above the asking price. The next three highest sales were $5.8 million for a property in Centerville that was on the market for 2,180 days starting at $9,800,000, $5.8 million for a property in Truro, and $5 million for a property in Chatham. The median value for high end sales in the first three quarters of 2010 was $2.5 million, down 12% from the same period in 2009, but the same as in 2008.

Days on Market, Sales, $2,000,000+, Q1-Q3, 2000-2010

Days on market for high-end properties sold during the first three quarters of 2010 grew substantially to 531 days compared to 253 days for the first three quarters of 2009. This increase is skewed by the sale of the property in Centerville after 2,180 days, although there were several other properties selling after 3 years on the market. In 2006-2008, the average days on market for sales in the first three quarters of the year ranged from 212 to 290 days.

Sales by Town, $2,000,000+, Q1-Q3, 2000-2010

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. In the first half of 2010, the market seemed to be contracting, but it has broadened in the third quarter. Cape Cod towns with high-end sales in the first three quarters of 2010 include the leader, Barnstable, (with 8 of the 14 sales in the village of Osterville), followed by Chatham (11), Harwich (3), Orleans (3), Falmouth (2), Provincetown (2), Bourne (1), Truro (1), and Yarmouth (1). In 2006, 13 of the 15 Cape Cod towns had high-end sales.

Wychmere Harborfront Estate is currently available for sale in Harwich Port

Fairview Waterfront Compound is currently for sale in Woods Hole

Click for more information about 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 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 Cape Cod, the Metro West area of Boston. View Stewart’s current Real Estate listings.

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Nov

Wychmere Harborfront Estate Featured in Boston Business Journal
By LandVest

Wychmere Harborfront Estate, a listing by Stewart Young of LandVest, was recently highlighted in the Boston Business Journal’s Executive Domains column in the article Harbor-front Estate A Perch to Commanding Views. This property, located in Harwich Port, Cape Cod, Massachusetts, is situated in Wychmere Harbor and overlooks the ocean with water views from nearly each room on the property. The residence’s living room has floor-to-ceiling windows, state-of-the-art kitchen has eat-in area overlooking the ocean, and the master bedroom boasts water views as well. Professionally landscaped grounds, rolling lawns to the water’s edge, boat house, 80± foot pier, heated pool, cabana, and attached three-car garage complete the offering.

Wychmere Harborfront Estate, 60 Harbor Road, Harwich Port, MA, Oceanfront Property for Sale by LandVest

The entire article is viewable on the Boston Business Journal website.

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Aug

Cape Cod Real Estate Market Watch, First Half, 2000-2010
By LandVest

High-End Real Estate Market Watch, First Half, 2000-2010 – Cape Cod, Massachusetts

Wings Neck Waterfront, one of two, LandVest listed, Pocasset homes for sale

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 Cape Cod Real Estate Listings, $2,000,000+, First Half of 2000-2010
On Cape Cod, Massachusetts, in the first half of 2010 the inventory of high-end listings grew to historic levels (248 listings vs. 210 at the same point in 2009). First half high-end sales almost doubled compared to last year (24 sales vs. 17 at the same point in 2009). The peak for first half sales was 44 sales in 2006. 2009 sales were the lowest since 2002. It is interesting to note that the first quarter 2010 performance was lagging 2009 (5 sales vs. 8 in 2009), but a surge in the second quarter resulted in an additional 19 sales vs. 9 in the second quarter of 2009. LandVest is seeing a burst of energy across its markets in the second quarter of 2010 and we are cautiously optimistic that the reminder of the year will see increasing activity in the high-end market.

Highest and Median Sale, $2,000,000+, First Half, 2000-2010
First half sale prices peaked in 2006 with a sale in Osterville at $12.5 million that remains the record sale for Cape Cod. In 2010 the top sale to date was $5.8 million for a property in Centerville that was on the market for an astounding 2,180 days starting at $9,800,000. The next two highest sales were $5 million in Chatham and $4.4 million in Osterville. The median value for high end sales in the first half of 2010 was $2.8 million matching the previous record in the first half of 2006.

Days on Market, $2,000,000, First Half 2000-2010
Days on market for high-end properties sold during the first half of 2010 grew substantially to 589 days compared to 226 days for the first half of 2009. This increase seems skewed by the sale of the property in Centerville, although there were several other properties selling after 3 years on the market. In the past three years, the average days on market for sales in the first half of the year ranged from 226 to 264 days.

Sales by Town, $2,000,000, First Half, 2000-2010
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. This year the market seems to be contracting. Cape Cod towns with high-end sales in the first half of 2010 include the leader, Barnstable, (with 7 of the 12 sales in the village of Osterville), followed by Chatham (7), Harwich (2), Falmouth (2), and Orleans (1). In 2006 at the first half peak, 13 of the 15 Cape Cod towns had high-end sales.

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

The Playhouse is a 6.2-acre estate in Centerville, MA and is available 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:
Robert R. Borden III, President rborden@landvest.com or 617-723-1800

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Jul

Seapuit, The Transformation of the Second Oldest Golf Links In The US Into Some Of Cape Cod’s Best Real Estate
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 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.

Seapuit Club in Osterville has become the site of some of Cape Cod's best real estate

Seapuit Club is now the site of some of Cape Cod's best real estate

The Seapuit Club, located in Osterville, Massachusetts, on Cape Cod operated from 1896 to 1942 and is reputed to have been the second oldest golf links in the United States. The property consisted of about 1,000 acres in Osterville and Marstons Mills. The golf course was 3001 yards long with 9 holes rated as a par 36. In 1926 the daily greens fee was $1.50, raised to $2.50 on the weekends. A seasonal membership cost $35.

1926 Seapuit Golf Membership Rates

The Seapuit Club Inn provided lodging and fine dining from 1898 to 1925. The Golf Club House at the ninth green provided registration and men’s and women’s lockers and at the third green Bernard Hinckley operated an oyster bar that also served martinis, maybe even during prohibition.

The "Head House" located on the 9th Green

Supporting operations included Seapuit Bay Farm that housed horses, cows, and chickens. There were several cranberry bogs that were harvested into the 1950s. The Seapuit Nursery operated as a commercial nursery up to 1985.

The transformation of Seapuit occurred in the early 1970s when the Davis family engaged LandVest to develop a master plan for residential development of the property. The plan was not a conventional subdivision. Careful inventories of the landscape were followed by the identification of key sites that would feature the bogs, marshes, woods, fields, and especially the water and inland vistas that made the property so unique. LandVest’s marketing campaign was also carefully planned and orchestrated with a slow release to the market over several decades. In the end, by 1990, about 50 lots were sold leaving extensive land in conservation.

Today Seapuit maintains a special sense of place. One of the most special properties in the neighborhood is located at 250 Smoke Valley Road in Osterville, MA and is listed by Stewart Young of LandVest is now under agreement. This waterfront retreat offers complete privacy, a pastoral setting with views toward Prince Cove and conservation land, and a deep-water dock with three floats. The Cape Cod-style residence provides three bedrooms and there is also an exceptional waterfront boathouse with one bedroom and a waterside deck.

Ostervile Waterfront Retreat - Former site of Seapuit Golf Club

For additional information on the Seapuit Club, click the link to a recent article in Cape Cod Life:

Remembering Osterville’s Seapuit Golf Club

For more information on Cape Cod Real Estate contact Stewart Young via email syoung@landvest.com

To view exceptional Cape Cod Real Estate for Sale, visit LandVest.com or click Cape Cod Real Estate

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