Cape Cod | Landvest Blog

May

MA Real Estate News, Cape Cod: High-End Market Watch, First Quarter, 2012
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, 2012

On Cape Cod, Massachusetts, the first quarter 2012 inventory of high-end listings grew as expected to 224 compared to 191 at year end 2011, but not as high as the record level of 235 listings in the first quarter 2011. First quarter high-end sales increased significantly to 13 from 6 in the first quarter of 2011. The peak for first quarter sales was 23 sales in 2008. Year end 2011 sales were down 10% from 2010, with exceptionally slow second and third quarters. LandVest brokers are reporting strong activity in their high-end market across New England and we are hopeful that this strong first quarter on Cape Cod will be followed by a strongspring and summer. We have the sense that buyers, who have been largely on the fence, are starting to realize that we are approaching a turning point in the market.

Highest and Median Sale, $2,000,000+, First Quarter, 2012

In the first quarter of 2012 the top sale on Cape Cod was LandVest’s sale of Mill Farm in Yarmouth Port for $6,000,000. This sale is a good example of changing buyer perceptions. In this case the buyer had been watching the property for several years and finally decided that it was time to act. The median value for high-end sales in the first quarter of 2012 was $2.4 million, the lowest level since 2004.

Days on Market, Sales, $2,000,000+, First Quarter, 2012

Days on market for high-end properties sold during the first quarter of 2012 were reduced somewhat to 536 from the record level of 577 in the first quarter of 2011. For 2000-2010, the average days on market for sales in the first quarters of the year ranged from 99 to 342 days. Given the large inventory of listings, it is likely that average days on market will remain high.

Sales by Town, $2,000,000, First Quarter, 2012

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 2012 is small, the geographic spread continues to be broad. Nine of the fifteen Cape Cod towns had high-end sales in the first quarter of 2012 including Barnstable (Barnstable and Cotuit) (2), Chatham (2), Harwich (Harwich Port and West Harwich) (2), Mashpee (New Seabury and Popponesset) (2), Pocasset (1), North Falmouth (1), East Orleans (1), Truro (1), and Yarmouth Port (1).

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, and the Metro West area of Boston. View Stewart’s current Real Estate listings.

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

The LandVest High-End Market Watch is a periodic review of select high-end markets in Maine, Massachusetts, New Hampshire, Rhode Island, 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.

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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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