Two weeks into the New Year, showing and sales activity in Dennis has been more brisk than we had anticipated. Could it be the Spring-like temperatures bringing out the buyers? Speaking of Spring, one of our favorite industry sources posted this article for those of you who may be waiting until the Spring market to put your Cape Cod property up for sale. Read it……. then think about listing NOW!
Elaine
Sales in the five villages of Dennis created a new threshold this month as not one property sold for an amount over $600,000. Further, the majority of sales are in the south side villages of Dennisport, South Dennis, and West Dennis indicating a continuing demand for lower priced properties.
| Neighborhood Sales Activity | ||||||
| November 19, 2011 through December 17, 2011 | ||||||
| Address | List Price | Sell Price | % Diff | |||
| 23 Captain Prestons Rd | Dennis | 325,000 | 307,000 | 94 | ||
| 125 Whig St | Dennis | 529,000 | 500,000 | 95 | ||
| 103 Corporation Rd | Dennis | 639,000 | 592,000 | 93 | ||
| 230 Old Wharf Rd | Dennis Port | 65,000 | 62,500 | 96 | ||
| 10 Morris Rd | Dennis Port | 319,900 | 300,000 | 94 | ||
| 11 Carver Rd | East Dennis | 255,000 | 240,500 | 94 | ||
| 52 Funn Pond Rd | East Dennis | 349,052 | 316,000 | 91 | ||
| 318 Airline Rd | South Dennis | 209,900 | 185,000 | 88 | ||
| 24 Alexander Dr | South Dennis | 199,000 | 198,000 | 100 | ||
| 60 Dorothy Way | South Dennis | 225,000 | 205,000 | 91 | ||
| 53 Cedar Ln | South Dennis | 225,000 | 225,000 | 100 | ||
| 34 Holly St | South Dennis | 234,900 | 228,000 | 97 | ||
| 3 Piccadilly Rd | South Dennis | 264,500 | 235,000 | 89 | ||
| 282 Center St | South Dennis | 299,000 | 267,000 | 89 | ||
| 29 Saga Rd | South Dennis | 279,900 | 272,000 | 97 | ||
| 488 Old Chatham Rd | South Dennis | 425,350 | 420,500 | 99 | ||
| 23 Jays Dr | South Dennis | 469,000 | 435,000 | 93 | ||
| 507 Main St | South Dennis | 495,000 | 477,000 | 96 | ||
| 20 Regan Rd | West Dennis | 259,000 | 238,000 | 92 | ||
| 145 School St | West Dennis | 324,000 | 293,000 | 90 | ||
| 20 Surfside Rd | West Dennis | 499,900 | 455,000 | 91 | ||
| 60 Garfield Ln | West Dennis | 569,000 | 500,000 | 88 | ||
Here is the October/November sales data for the five villages of Dennis. Unit sales across the 5 Villages of Dennis declined by -1% as the median price continued to decline -8% year-to-date. Interestingly, 86% of sales for the past month were under $700,000. For the first time this year, no sales occurred over $ 1,000,000.
| Neighborhood Sales Activity | ||||||
| October 17 through November 18, 2011 | ||||||
| Address | List Price | Sell Price | % Diff | |||
| 68 Long Hill Rd | Dennis | 298,900 | 285,000 | 95 | ||
| 35 Princess PA | Dennis | 599,000 | 570,000 | 95 | ||
| 12 Dunes View Rd | Dennis | 725,000 | 645,000 | 89 | ||
| 44 Silverleaf | Dennis | 979,900 | 968,000 | 99 | ||
| 10 Ezra Ln | Dennis | 1,149,533 | 950,000 | 83 | ||
| 11 Indian Chief | Dennis Port | 129,000 | 119,000 | 92 | ||
| 32 Myrtle Rd | Dennis Port | 259,900 | 251,000 | 97 | ||
| 2 Gages Ln | Dennis Port | 270,000 | 270,000 | 100 | ||
| 18 Cross St | Dennis Port | 335,000 | 320,000 | 96 | ||
| 30 Center St | Dennis Port | 349,000 | 322,000 | 92 | ||
| 10 High Head Rd | East Dennis | 384,500 | 370,000 | 96 | ||
| 124 Forest Pines Dr | East Dennis | 399,000 | 392,000 | 98 | ||
| 23 Lombard Way | East Dennis | 538,800 | 505,000 | 94 | ||
| 25 Quivet Dr | East Dennis | 599,000 | 569,000 | 95 | ||
| 33 Dr Lords Rd | East Dennis | 997,000 | 970,000 | 97 | ||
| 46 Debbie Ln | South Dennis | 160,000 | 140,000 | 88 | ||
| 5 Coach House Ln | South Dennis | 179,900 | 182,500 | 101 | ||
| 256 Old Bass River Rd | South Dennis | 199,900 | 190,000 | 95 | ||
| 295 Old Bass River Rd | South Dennis | 226,295 | 220,000 | 97 | ||
| 23 Charing Cross Rd | South Dennis | 249,500 | 225,100 | 90 | ||
| 16 Elton Pl | South Dennis | 289,000 | 267,500 | 93 | ||
| 29 Windsor Ave | South Dennis | 299,900 | 287,000 | 96 | ||
| 31 Jays Dr | South Dennis | 399,900 | 395,000 | 99 | ||
| 31 Chandler Dr | South Dennis | 399,000 | 399,000 | 100 | ||
| 10 Beach Rd | West Dennis | 349,900 | 320,000 | 91 | ||
| 11 Scott Tyler Rd | West Dennis | 359,000 | 345,000 | 96 | ||
| 71 Cove Rd | West Dennis | 589,000 | 530,000 | 90 | ||
| 27 Porter Ln | West Dennis | 599,000 | 543,000 | 91 | ||
Estate Property in Dennis Village $750,000
Here is the latest sales data for the five villages of Dennis.
September kickedoff a different Fall market than in previous years, as properties sold in price categories above $1,000,000 and above $3,000,000 for the first time all year. The overall Dennis market saw price declines of 9.3% YTD while sales volume increased 5.8%. Buyers are continuing their pursuit of value and appear willing to take advantage of low interest rates.
| Neighborhood Sales Activity | ||||||
| September 18 through October 18, 2011 | ||||||
| Address | List Price | Sell Price | % Diff | |||
| 174 South Yarmouth Rd | Dennis | 195,000 | 175,000 | 90 | ||
| 12 Mooring Ln | Dennis | 275,000 | 260,000 | 95 | ||
| 6 Billingsgate Rd | Dennis | 499,000 | 488,300 | 98 | ||
| 3 Curtis Ln | Dennis | 625,000 | 620,000 | 99 | ||
| 42 Princess PA | Dennis | 699,000 | 680,000 | 97 | ||
| 10 Cutter Ln | Dennis | 1,290,000 | 915,000 | 71 | ||
| 62 Seaside Ave | Dennis | 1,479,000 | 1,350,000 | 91 | ||
| 18 Smith St | Dennis Port | 250,000 | 246,000 | 98 | ||
| 38 Barnard Rd | Dennis Port | 279,900 | 265,000 | 95 | ||
| 35 Center St | Dennis Port | 285,000 | 285,000 | 100 | ||
| 11 Nipigon Way West | Dennis Port | 307,000 | 296,000 | 96 | ||
| 174 Old Wharf Rd | Dennis Port | 329,900 | 300,000 | 91 | ||
| 14 Timber Ln | East Dennis | 292,500 | 269,000 | 92 | ||
| 59 Braddock Cir | East Dennis | 300,000 | 287,500 | 96 | ||
| 63 Quivet Dr | East Dennis | 359,000 | 335,000 | 93 | ||
| 39 Cedar Hill Rd | East Dennis | 344,000 | 340,000 | 99 | ||
| 1214-A Route 6A | East Dennis | 445,000 | 420,000 | 94 | ||
| 131 Bakers Pond Rd | East Dennis | 549,000 | 515,000 | 94 | ||
| 36 Old Sailors Way | South Dennis | 150,000 | 167,000 | 111 | ||
| 39 Hickory Ln | South Dennis | 184,900 | 174,000 | 94 | ||
| 58 Freydis Dr | South Dennis | 219,900 | 209,000 | 95 | ||
| 26 Freydis Dr | South Dennis | 226,900 | 216,000 | 95 | ||
| 6 Country Cir | South Dennis | 235,000 | 220,000 | 94 | ||
| 11 Bass River Ln | South Dennis | 255,000 | 255,000 | 100 | ||
| 48 Viking Dr | South Dennis | 275,000 | 260,000 | 95 | ||
| 129 Mayfair Rd | South Dennis | 349,000 | 317,500 | 91 | ||
| 21 Chadwick Rd | South Dennis | 374,000 | 360,000 | 96 | ||
| 99 South Village Rd | West Dennis | 279,000 | 263,500 | 94 | ||
| 12 Wheatfield Ln | West Dennis | 3,500,000 | 3,150,000 | 90 | ||
| Neighborhood Sales Activity | ||||||
| August 18, 2011 through September 18, 2011 | ||||||
| Address | List Price | Sell Price | % Diff | |||
| 35 Ox Bow Way | Dennis | 339,000 | 300,000 | 89 | ||
| 65 Robbins Cir | Dennis | 439,900 | 392,500 | 89 | ||
| 62 Packet Dr | Dennis | 595,000 | 550,000 | 92 | ||
| 55 Bain Rd | Dennis Port | 169,000 | 153,000 | 91 | ||
| 19 Myrtle Rd | Dennis Port | 248,310 | 227,500 | 92 | ||
| 39 Capt Chase Rd | Dennis Port | 274,900 | 260,000 | 95 | ||
| 111 Cornell Dr | Dennis Port | 279,900 | 279,000 | 100 | ||
| 8 Clipper Ln | Dennis Port | 299,900 | 290,000 | 97 | ||
| 70 Uncle Rolf | Dennis Port | 335,000 | 321,000 | 96 | ||
| 26 Ocean Dr | Dennis Port | 399,000 | 375,000 | 94 | ||
| 59 Braddock Cir | East Dennis | 300,000 | 287,500 | 96 | ||
| 33 Sea Meadow Dr | East Dennis | 425,000 | 415,000 | 98 | ||
| 154 Forest Hills Dr | East Dennis | 499,000 | 499,000 | 100 | ||
| 132 Bakers Pond Rd | East Dennis | 599,000 | 550,000 | 92 | ||
| 39 Hickory Ln | South Dennis | 184,900 | 174,000 | 94 | ||
| 19 Pheasant Ln | South Dennis | 249,900 | 230,000 | 92 | ||
| 3 Country Cir | South Dennis | 249,900 | 240,000 | 96 | ||
| 140 Trotting Park Road | West Dennis | 199,900 | 200,000 | 100 | ||
| 40 Tower Rd | West Dennis | 289,000 | 277,000 | 96 | ||
| 16 Brooksweld Ln | West Dennis | 424,900 | 405,000 | 95 | ||
| 28 Garfield Ln | West Dennis | 550,000 | 476,305 | 87 | ||
Elaine
One of my favorite industry sources, The KCM Crew, posted this blog today which I thought worth sharing with those of you THINKING about putting your house on the market. The Spring market here on the Cape has been quite active, and this article presents an interesting perspective on the national market:
”Sellers in any real estate market are looking to get the best possible price. If you are looking to sell in the next year, todays price may well be the best price. Home values stabilized somewhat in 2010. Many hoped that was a sign that values had bottomed out and we would see price appreciation in 2011. Studies released this week have painted a different picture.
If we look atCoreLogic’s January Home Price Index (HPI), we see that prices are again beginning to decline:
National home prices, including distressed sales, declined by 5.7 percent in January 2011 compared to January 2010…
Mark Fleming, chief economist with CoreLogic, said, “A number of factors continue to dampen any recovery in the housing market. Negative equity, which limits the mobility of homeowners, weak demand and the overhang of shadow inventory all continue to exert downward pressure on housing prices. We are looking out for renewed demand in the coming months as the spring buying season gets underway to hopefully reduce the downward pressure.”
They are not talking about the spring market increasing or even stabilizing prices. They hope it will “reduce” the pressure to drive prices lower.
Radar Logic’s RPX Composite Price comes to virtually the same conclusion:
Radar Logic believes the RPX Composite price will continue to exhibit year-on-year declines throughout 2011 due to a growing supply of homes for sale and in the inventories of financial institutions, and weakening demand due to the reduction of government incentives for home buyers. Moreover, banks are facing uncertainty over whether they will be forced by regulators to expand mortgage modifications, and may reduce lending and tighten standards as a result.
“No matter what you call it, a ‘double dip’ or the continuation of a long process of deterioration, the current trend in home prices is evidence that housing markets are continuing to languish,” said Quinn Eddins, Director of Research at Radar Logic. “We expect the negative trend to continue under a severe supply overhang that includes a large and growing ‘shadow inventory’ of homes in default or foreclosure.”
It seems that prices have again begun to fall nationally. With the overhang of existing and shadow inventory, prices will probably continue to decline throughout most of 2011. If you’re thinking of selling, now might be the best time. Check with a local real estate professional to see how this might impact your area. ”
Elaine
When we make a listing presentation to a prospective seller, one of the issues we always discuss is “Factors Relevant to Determining the Value of Your Property”” in which we deal with the facts of the current market and the things over which we and the Seller have no control. Which really means that you have to ACCEPT certain facets of the current real estate market if you are going to list your home for sale. I was reminded of this when I came across this article that speaks to the same matter – takes the simplicity of the well-known Serenity Prayer and applies it to the process of selling your home! Acceptance, courage and wisdom - a great strategy in these times. Remember, thousands of homes sold yesterday and thousands more will sell today. The right approach and attitude will help make yours one of them!
Elaine
I really like this post about what the EXPERTS have to say about whether or not now is the time to jump into the real estate market, on Cape Cod or elsewhere. Trusted sources believe now is the time to buy a home . We couldn’t agree more – especially on Cape Cod!
Cape Cod Real Estate market continues to rebound confirming the value of vacation homes on Cape Cod. Dennis leads the way along with Yarmouth, Harwich and Barnstable.
This data covers sales from JANUARY through JUNE 2010
| Unit Sales (YTD) | Median Price (YTD) | |||||||
| 2009 | 2010 | % Change | 2009 | 2010 | % Change | |||
| Dennis | ||||||||
| Single Family | 16 | 32 | 100% | $311,450 | $340,000 | 9% | ||
| Condo | 2 | 4 | 100% | $156,500 | $166,500 | 6% | ||
| Days on Market | 114 | 110 | -4% | |||||
| % Meet Selling Price | 93 | 94 | 1% | |||||
| Yarmouth | ||||||||
| Single Family | 22 | 43 | 95% | $257,000 | $285,000 | 11% | ||
| Condo | 9 | 11 | 22% | $184,000 | $205,000 | 11% | ||
| Days on Market | 149 | 111 | -26% | |||||
| % Meet Selling Price | 92 | 93 | 1% | |||||
| Brewster | ||||||||
| Single Family | 13 | 16 | 23% | $430,000 | $407,500 | -5% | ||
| Condo | 8 | 8 | 0% | $247,500 | $253,000 | 2% | ||
| Days on Market | 179 | 161 | -10% | |||||
| % Meet Selling Price | 94 | 91 | -3% | |||||
| Harwich | ||||||||
| Single Family | 13 | 29 | 123% | $311,000 | $355,000 | 14% | ||
| Condo | 2 | 2 | 0% | $375,000 | $137,000 | -19% | ||
| Days on Market | 137 | 108 | -21% | |||||
| % Meet Selling Price | 94 | 93 | -1% | |||||
| Orleans | ||||||||
| Single Family | 6 | 10 | 67% | $735,000 | $547,500 | -26% | ||
| Condo | 2 | 3 | 50% | $245,000 | $250,000 | 4% | ||
| Days on Market | 163 | 160 | -2% | |||||
| % Meet Selling Price | 95 | 92 | -3% | |||||
| Barnstable | ||||||||
| Single Family | 45 | 84 | 87% | $277,000 | $359,000 | 30% | ||
| Condo | 4 | 7 | 75% | $63,000 | $107,000 | -46% | ||
| Days on Market | 179 | 1621 | 806% | |||||
| % Meet Selling Price | 95 | 92 | -3% | |||||
| Cape Cod | ||||||||
| Single Family | 1554 | 1130 | -27% | $331,200 | $364,900 | 10% | ||
| Condo | 219 | 292 | 33% | $253,000 | $269,000 | 6% | ||
| Days on Market | 151 | 148 | -2% | |||||
| % Meet Selling Price | 93 | 92 | -1% | |||||
The following is recent real estate sales activity for the Mid-Cape villages of Dennis, East Dennis and West Dennis.
October 1, 2009 through December 31, 2009 as reported by the Cape & Islands MLS.
| List Price | Sale Price | SP%LP | ||
| 10 Signe Rd | Dennis | 179,900 | 163,000 | 91 |
| 13 Fairview Ave | Dennis | 229,000 | 217,500 | 95 |
| 61 South Yarmouth Rd | Dennis | 249,900 | 241,000 | 96 |
| 4 Whittier Dr | Dennis | 300,000 | 305,000 | 102 |
| 42 Billingsgate Rd | Dennis | 399,500 | 392,000 | 98 |
| 198 New Boston Rd | Dennis | 419,500 | 395,000 | 94 |
| 29 Six Penney Ln | Dennis | 419,500 | 412,000 | 98 |
| 455 Main St | Dennis | 489,000 | 420,250 | 86 |
| 38 Partridge Ln | Dennis | 520,000 | 450,000 | 87 |
| 47 Rodolph Way | Dennis | 485,000 | 481,000 | 99 |
| 44 Studio Way | Dennis | 549,900 | 515,000 | 94 |
| 43 Dr. Stanton Rd | Dennis | 599,900 | 599,900 | 100 |
| 84 Nobscusset Rd | Dennis | 659,900 | 622,500 | 94 |
| 32 Pilgrim Rd | Dennis | 639,000 | 657,750 | 103 |
| 20 Bay View Rd | Dennis | 755,000 | 685,000 | 91 |
| 97 Horsefoot Path | Dennis | 1,679,000 | 1,400,000 | 83 |
| 16 Luscombe Ln | Dennis | 3,800,000 | 3,625,000 | 95 |
| 29 Blackfoot Way | East Dennis | 299,900 | 285,000 | 95 |
| 35 Blackfoot Way | East Dennis | 349,000 | 330,000 | 95 |
| 1280 Route 134 | East Dennis | 389,000 | 375,000 | 96 |
| 174 King James Dr | East Dennis | 425,000 | 410,000 | 96 |
| 73 Prince Way | East Dennis | 599,900 | 555,000 | 93 |
| 9 Holway Dr | East Dennis | 599,000 | 599,000 | 100 |
| 4 Surrey Ln | East Dennis | 750,000 | 730,000 | 97 |
| 65 Stephen Phillips Rd | East Dennis | 1,075,000 | 935,000 | 87 |
| 41 Stillman Kelley Rd | East Dennis | 1,199,999 | 1,140,000 | 95 |
| 56 Old Town Ln | East Dennis | 2,495,000 | 1,800,000 | 72 |
| 26 Teal Cir | West Dennis | 299,900 | 284,000 | 95 |
| 146 Loring | West Dennis | 289,500 | 289,900 | 100 |
| 15 Mari Jane Rd | West Dennis | 319,900 | 305,000 | 95 |
| 21 Indian Pond Rd | West Dennis | 335,000 | 320,000 | 96 |
| 6 Shore Rd | West Dennis | 379,000 | 352,500 | 93 |
| 10 Chapman Rd | West Dennis | 425,000 | 426,000 | 100 |
