Here is another update on Eastham and Outer Cape Real Estate from our friend Bob Sheldon in Eastham. Looks like 2012 was a very strong growth year for Cape Cod Real Estate and 2013 just might be even better! If you are thinking of, Buying Land on Cape Cod,  Building a New Home, or Remodeling or Renovating your Existing Cape Cod Home, CONTACT US today!

Bob's Eastham Newsletter Bob Sheldon, REALTOR®, 508-237-9545 January  2013  -  Special Edition  BobSheldon@remax.net  www.RobertSheldon.com Blog: http://BobsEastham.blogspot.com RE/MAX Classic - Eastham   Eastham 2012 Year-End Preview

This Newsletter - Nine Years (& Counting)! I have been doing this newsletter for over 9 years.  I publish an expanded version of this newsletter monthly, roughly mid-month, primarily as an E-Mail newsletter. Don't miss the monthly Eastham real estate highlights, and lots of other Eastham news and "fun stuff". You can subscribe, without any obligation, on my website, www.RobertSheldon.com or by calling me at 508-237-9545. Eastham Highlights: November had 12 closings of single family homes, with an average sale price of $411.958 (and a median of $390,000). There are a total of 104 single family homes for sale in Eastham, with an average list price of $625K and a median price of $447K. There are 22 homes currently under agreement. The 104 number is  15.4% lower than a year ago. At the end of November, the YTD average sale price of a single family home was $443,122 down 4.2% from the full year 2011. The median sale price was $409K, up 0.8% from 2011. There were 122 homes sold through 11/30/12, up 32.6% from the same period in 2011, with an average sale price of $443K and a median sale price of $409K. There are 26 parcels of residential land on the market, ranging from $125K to $899K (this parcel, on Rt 6 has commercial possibilities). There were two sales of residential land in November, at $170K and $295K.   There are currently 10 condos for sale in Eastham, ranging from $139K to $419K. There were two condo sales in November, at $217K and $379K.   Commentary: Sales this year have been significantly ahead of 2011's 'under'-performance. The average sales prices have, however, lagged behind 2011 by about 4.2% while the median (a better measure) sales prices are essentially flat (plus 0.8%).  I expect December sales to be about the same as November's, which will not change the year very much. Inventory levels are seasonally down (see chart above), with mid-December at the same level as mid-November and at 2012's lowest levels. We continue to be in a Buyer's market.    Looking Forward - 2012 Year-End Preview I expect that the full year will close out 30-35% ahead of 2011's levels in terms of sales volume. Average and median prices will (I predict) show 2012 levels to be flat, compared to 2011.  As for 2013, I am personally bullish on both sales and prices. With the interest rates continuing in the 3%-4% levels, the economy continuing to recover (let's hope!), and with some pent-up demand from recent years, the marketplace might just return to pre-2005 levels. We made great progress in 2012, but the onset of new taxes (a sure thing - ugh!) may dampen demand, hopefully to be overpowered by economic optimism. Here's hoping!   November's Eastham Sales Details             The following table provides the details for the homes sold in Eastham in November, 2012. The "Original Price" is the beginning list price for the listed home. The "Listing Price" was the list price at the time of the accepted offer and reflects any price reductions the home may have taken. The "% List" is the Selling Price divided by the Listing Price (x100).   Street Address Original Price Listing Price Selling Price %List Listing Date Selling Date 695 Nauset Rd $359,000 $359,000 $345,000 96.1% 08/27/2012 11/02/2012 6 Brenda Ln $450,000 $435,000 $405,000 93.1% 04/09/2012 11/06/2012 30 Bradford Ln $529,000 $519,000 $510,000 98.3% 06/26/2012 11/07/2012 95 Queen Ann Dr $499,900 $365,000 $350,000 95.9% 08/16/2010 11/09/2012 20 Beverly Rd $383,500 $383,500 $370,000 96.5% 04/23/2012 11/15/2012 15 Cedar Ln $495,000 $439,000 $439,000 100.0% 10/07/2009 11/15/2012 40 Billingsgate Ave $675,000 $625,000 $540,000 86.4% 02/10/2012 11/16/2012 30 Split Rail Rd $399,000 $399,000 $375,000 94.0% 04/29/2012 11/27/2012 575 Great Pond Rd $349,000 $325,000 $325,000 100.0% 02/15/2012 11/28/2012 260 Summit Ave $489,500 $489,500 $479,500 98.0% 09/07/2012 11/28/2012 2 Kingfisher Rd $420,000 $399,500 $365,000 91.4% 06/18/2012 11/29/2012 125 N. Sunken Meadow $479,000 $449,900 $440,000 97.8% 06/17/2012 11/30/2012     Buying ? / Selling ? Will 2013 be your year to buy or sell Eastham property? Allow me to step through your options as your real estate agent. Call me at 508-237-9545 or send me an E-mail at BobSheldon@remax.net. Would you like to know what your Eastham home is worth in today's marketplace? Call me for a no-obligation market analysis review of your property. Please disregard the promotional content of this newsletter if your property is currently listed with another agent.

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   Bob Sheldon has provided another update on the Eastham Real Estate market.  This month, it looks like things have continued to move in a positive direction. Home sales are up 31% on a year over year basis, and the steady demand continues.  If you are thinking of Building, Remodeling, or Renovating your Cape Cod Home in Eastham or on the Outer Cape, please CONTACT US today.

If you are thinking about your project, you should definitely take a look at our Critical Planning Guide so you know the steps involved to get your project off the ground. Click below to download:

Here is a link to Bob Sheldon's update: Eastham Real Estate Update

  Good news continues in the Cape Cod and Massachusetts Real Estate markets! Here is another update from the Massachusetts Association of Realtors

   There were 3,685 detached single-family homes sold this October, a 22 percent increase from the 3,017 homes sold the same time last year. This is the 16th straight month of year-over-year increases. The October condominium market was up 34.8 percent compared to the same time last year. (from 1,056 units sold in 2011 to 1,423 units sold in 2012). This is the 15th month of the last 16 that condominium sales have been up.  

The median selling price for single-family homes in October was $287,000 which was up 4.4 percent from $275,000 in October 2011.  

Condominium median selling prices in October were up 2.0 percent from the October 2011 median price (from $259,900 to $265,000). 

Inventory and Days on Market:

The inventory of single-family homes as of October 2012 decreased 23.5 percent from October 2011. This was also the largest single month year-over-year decrease since MAR has been tracking this data.

The inventory of condominiums on the market in October was down 32.2 percent compared to the year before.  

Detached single-family homes stayed on the market an average of 102 days in October 2012, which was down from 114 days in October 2011. Condos stayed on the market an average of 102 days, which was down from 111 days in October 2011.

So far, it looks like 2012 will be the start of the rebound for the real estate market, and as you know, demand will continue to increase. If you are considering Building, Remodeling or Renovating your Cape Cod Home, please CONTACT US today!

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Great news from the Massachusetts Association of Realtors! If you are thinking of Buying Land, or a Building a New Home on Cape Cod, or if you are ready to Renovate or Remodel your existing home, Now is a GREAT time to start.  Market demand is growing steadily, so don't miss this opportunity! Contact REEF today to see how we can help!

Mass. October pending home sales has 2nd biggest increase 

 The Massachusetts Association of REALTORS® (MAR) released the October 2012 pending home sales report for single-family homes and condominiums. For the 18th straight month, homes put under agreement were up over the same month last year. In fact, it was the 2nd biggest increase since we've been tracking the data starting back in June 2007. On a month-to-month basis, pending sales were up from September.

Here are the highlights:

• Single-family pending home sales were up 35.9% compared to October 2011
• This is the second biggest increase next to the final month of the home buyer tax credit in April 2010
• Single-family month-to-month pending home sales were up 6.45% from September 2012
• Condo pending home sales were up 42.99% compared to October 2011
• Condo pending month-to-month home sales were up 6.56% from September 2012

   Looks like Eastham is on track for another strong year of Real Estate sales.  The 2nd quarter numbers are in, and they seem to be typical of recovering market after the slower summer season.  Certain indicators like a reduced inventory and steady sales above past years are all good signs.  Did you know, for instance, that there are still 23 residential lots available for sale in Eastham, starting as low as $125,000? If you are thinking of Building, Renovation or Remodeling in Eastham, now is a great time to take advantage of low prices, and great interest rates. 

Here is Bob Sheldon's Eastham Real Estate Update: Eastham Real Estate

    We do a lot of work with local realtors on Cape Cod, consulting on projects of all types ranging from New Construction, Custom Homes, and Renovations.  Often times, when a buyer is looking at a lot for sale, we will get involved early in the process to determine design and permitting requirements for the lots.  One of the firms we do a lot of work with is Oldcape/Sotheby's.  Oldcape has offices in Harwich, Orleans and Brewster and has a great team of realtors that can help in both the buying and selling process. If you are thinking of buying a lot, or building a new home on Cape Cod, Oldcape / Southeby's and REEF are a great team.

Here is a link showing their current listings on Cape Cod: What's For Sale on Cape Cod?

   Here is another Eastham Real Estate Market update from Bob Sheldon at ReMax Classic. Looks like Home Sales are are continuing to increase on a year over year basis, and the Real Estate Market is looking strong for 2011.  The most interesting fact is that home sales in Eastham are approaching levels, not seen since 2006!.  If you are thinking about Building or Remodeling your Eastham home click here to contact REEF, Cape Cod's Home Builder!

Here is a link to Bob Sheldon's Eastham Market Update: Eastham Market Update

   REEF, Cape Cod's Homebuilder has been involved in the Cape Cod Real Estate market for over 25 years.  With nearly 1,500 projects completed, and daily interaction with real estate professionals and property owners, REEF has seen all of the ups and downs of the market cycle. Over the last 7 years, Cape Cod Real Estate has declined in value, just like many areas in the country.  However, we here at REEF feel we are approaching the end of the cycle.  So, if you are thinking of buying, Building, or Remodeling your Cape Cod Home, NOW is a great time to act. 

Here is an article from boston.com that talks about buying on the Cape: Buy NOW on Cape Cod

If you would like to know what your project may cost, take a look at REEF's 2012 Construction Cost Guide by clicking below:

 We get a monthly news letter from Bob Sheldon, a realtor in Eastham.  Looks like more good news for the Eastham Real Estate Market.  Sales have increased 39% since last year, and activity for land, homes and condominiums is strong.  If you have been waiting for the market stabilize, and are thinking about buying, building or renovating your home in Eastham.  Now is a great time to make your move!

Here is Bob's news letter: Bob Sheldon - September Update

   Prices for existing homes have continued to rise this summer.  July marked the 5th consecutive monthly increase for year over year sales data.  This is good news and shows continued strength in the housing market. 

As a custom home builder on Cape Cod, many of REEF's customers are selling their existing homes to  retire here on beautiful Cape Cod.  With low interest rates, and rents on the rise, the housing market has begun a consistent upward trend, allowing people to sell their homes at a higher price.  The favorable interest rates also help the construction / renovation market as construction loans are also available at similarly low rates.  If you are thinking of building a new home on Cape Cod or Renovating your existing home click here to find out what it might cost:

Here is the full article from residentialpros.com: Home Prices on the Rise