Bob's Eastham
Real Estate Newsletter
Bob Sheldon , Realtor®
508-237-9545
December 2019 - Newsletter #201
BobSheldon@remax.net
RE/MAX Spectrum
In This Issue
  • My market update through October
  • New HAWK Signal
  • Winterizing Your Home
  • 1 New Listing
Eastham Market Update - October Results

  • October had 26 closings of single family homes, with an average sale price of $644,462 (and a median of $527,000).
  • At the end of October, the YTD average sale price of a single family home was $552,480 flat from the full year 2018. The median sale price was $462,450, down 3.7% from 2018.
  • There are a total of 69 single family homes for sale in Eastham (down 13), with an average list price of $823,638 and a median price of $595K. There are 28 homes currently under agreement. The 69 number is down 4 from a year ago.
  • There were 120 homes sold through 10/31/19, up 12 (11.1%) from the same period in 2018.. 
  • There are 7 parcels of residential land on the market, ranging from $159K to $1.1M (a 3.7 acre parcel on Rt 6). There was one sale of residential land in October, a 1/2 acre parcel (near bay-front) that sold for $374K. 
  • There are currently 11 condos for sale in Eastham, ranging from $130K to $339K. There were two condos sold in October, both larger units at $302K and $305K.
Commentary:
Wow! What a difference a month makes. October had the highest single month sales of any month since I've been keeping score - since 2003. That certainly changes the arithmetic as we think about the end of the year. The year-to date sales are up 11.1% from where we were last year at this time. The average sale price has climbed a bit to be on par with last year - up from a few points down. Likewise the median sale price is up a couple of percentage points, bringing us to 3.7% down from 2018. BUT - lest we get too cocky - I think November will be down, volume-wise, from last year. November 2018 was last year's biggest month, so (maybe) some of the November volume got pulled into October. We'll see.

There are 69 homes currently for sale in Eastham, with an average days-on-market of 154. Last year we had 73 active listings at this time. The 69 ‘actives’ should be about 5-6 months’ worth of inventory. Properly priced new listings are getting snapped-up pretty quickly. The average list price for for-sale homes in Eastham is $824K and the median list price is just under $600K (actually $595K)..

Sellers Note - the winter season normally has a lower inventory (see left chart below), so now would be a good time to list your home. Sure, there are fewer Buyers, but winter Buyers are more serious Buyers.
New Listings - Every Day!
Would you like to get notice of new listings? With a lessened inventory, your ability to act quickly depends, in part, on you finding out about new listings as they come online. I provide a service that will give you immediate notice of any new listings that are entered into the Cape Cod MLS that meet your criteria. This service is so good that I use it myself to get instant updates to Eastham listings.

More Interesting Articles

Several times a week I post articles that deserve to be re-seen. I post these to my Facebook 'business' page. Here are a few from the last month or so.

Would you like to follow me on Facebook? No problem!  Just go to my page on Facebook and press "Like"
Massasoit Hills Beauty
EASTHAM - New Listing -  Looking for a comfortable 3 Bedroom home, just a short walk from a private association beach? This home has a wide-open living floor, with spacious kitchen, dining and living rooms, completely surrounded by a wrap around deck. Below are 3 larger bedrooms, 3 bathrooms, and a 1 car garage. This home is under 1/2 mile to the Massasoit Hills private beaches. We have a new 3 bedroom Title 5 septic system and gas heat. Dream Here!
A Customer Letter - A Buyer ....

We’ve bought and sold many houses and Bob Sheldon is without a doubt the best Realtor we’ve ever worked with. He listened. He understood our needs and desires in a home and didn’t waste time showing us houses that didn’t meet those needs. He was organized, knowledgeable and fun to work with. From our first meeting to closing on our new house he was responsive, prompt and proactive. The whole process was a pleasure.

Thank you, Bill & Laurie
New Pedestrian Crossing in Eastham

I'm not sure this is really good news, certainly not for folks who need to get from Orleans to anywhere north of the Eastham visitors center, but the Seashore is in the process of installing a new-style crossing 'beacon' where Gov Prence Rd crosses Rt 6. The intent here is for pedestrians and bicyclists to be able to cross Rt 6 without risking their lives every time. Gov Prence Rd is how folks access the Fort Hill area of the Seashore. This light should be operational by the spring.

This new light will be what's known (by DPW folks) as a HAWK system. There has been much confusion as to what folks are supposed to do at one of these lights. Do you stop like as a stop light?, do you stop and then go? I believe that you are simply not to run over the pedestrian.

Here's an article with more information on the new light . Apparently the funds were allocated for this project in 2012 - just to give you a glimpse of how fast government can act when they really want to.
It's Time to Winterize ...

The most dangerous time of year for your vacation home is the cold, cold winter. Generally speaking, it doesn't get that cold, for that long. That said, if you don't take care to winterize your home, you will have a mess in the spring. Make no mistake about it, it's frozen pipes that will get you, even on the mildest of winters. Since much has been written about winterizing (and see inks below) this is simply a friendly reminder. Don't forget these basics...
  • Turn off the water where it enters the house. Either turn off the power to the pump, or turn off the main water valve, or both
  • Don't forget the hot water tank
  • Winterize your outdoor water faucets and outdoor shower
  • Blow out any irrigation system pipes
  • Ensure that the interior pipes are protected
  • Keep home at 45-50 degrees, Or..
  • Put anti-freeze in drains, toilets, baseboard registers
  • Simple things ....
  • Inspect roof and clean gutters
  • Remove window AC units
  • Empty and unplug the refrigerator
  • Unplug unnecessary electrical items (toasters, etc)
  • Secure porch and deck furniture and grill
  • Lastly, monitor the temperatures, in Eastham, and in your home. Technology has provided lots of ways to do this. If you sense problems, call someone.
A few links...
Mortgage Corner - 3.750% - Holding - Wow!

Wow - Another month!. Mortgage rates seem to be holding at the lowest level since October 2016, to 3.750% (3.810% APR) for a 30 year fixed mortgage. The Fed hinted that they may even cut their rates later this year. This would be an amazing opportunity to get (or refi) in the 3's. Wow! Is now the time to buy your vacation home?
Hope You Had A Happy Thanksgiving

I truly enjoy being where the Pilgrims were on the 1st Thanksgiving. There is so much to be thankful for, including all the wonderful folks that I meet 'along the way'. Thank you.

Of note - planning is underway for the 400th anniversary of the first landing of the Pilgrims, in Provincetown (not Plymouth) on November 11th, 1620. Stay tuned - check out www.Eastham400.org for a calendar of events, some Eastham history, and lots of information about the Pilgrims.
CTCT-20181112_125931_0
Buying? / Selling?

Is it time for you 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 .

Buyers: If you plan to come to Eastham this winter, I'd love to show you what's available with a customized list of homes. Then, when you come out, we can go see the homes that seem to work for you. Call me to get started.

Sellers: Winter is a great time to sell your home in Eastham. Serious Buyers, coupled with lower mortgage rates, make for a good (if not great) selling season. 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.

Hint - Sellers - please give me a call. We need more mid-market home listings.
If your home is currently listed with another agent please disregard the promotional components of this newsletter.