Bob's Eastham Newsletter
Bob Sheldon , Realtor®
508-237-9545
November 2017 - Newsletter #176
BobSheldon@remax.net

RE/MAX Spectrum
Eastham Real Estate - 3Q 2017 Report

Single Family Homes....

  • The first 9 months of 2017 had 95 closings, vs. 99 for the same period in 2016, down 4%.
  • The average selling price for the first 9 months of 2017 was $530K, up 16.2% from full year 2016. The median price of $460K is up 13.6% from the full year 2016 median.
  • There are currently 70 single family homes for sale in Eastham, with an average list price of $849K and a median price of $594K. (Note: last year there were 78 ‘active’ homes at this time). There are, also, 27 homes that are "Pending" (i.e. have a closing scheduled).

Condos...

  • There were 3 condos sold in the first 3 quarters of 2017, ranging from $210K to $288K.  
  • There are 4 condos for sale in Eastham. These range from $150K to $295K.

Residential Land...

  • Nine parcels of land sold in Eastham this year, through 3Q17.Ranging from $152K to $475K. 
  • There are, currently, 5 residential building lots available, ranging from $140K to $259K. 
Commentary:
This year was looking like it’s going to be a pretty good year, but this last quarter hasn’t been kind to the numbers guy. I feel that the lack of inventory has finally caught up to us. Sales have sunk from a mostly positive story to one that’s showing a slowdown, currently running 4% under last year’s pace. Realized prices, however, are up significantly from last year. The YTD median sales price of $460K is 13.6% ahead of the full year 2016 median of $405K. With 3 important months ahead, it’s too early to pinpoint the actual numbers, but we have a pretty good idea that we’ll finish way ahead, dollar-wise, of last year. We’ll need to be careful of what conclusions we may draw from this statistic.

There are 70 homes currently for sale in Eastham, with an average days-on-market of 154. The 70 ‘actives’ will be about 6 months’ worth of inventory. This inventory, low as it is, should begin to tail off as we see winter approaching. It’s important to note that the current inventory is somewhat below where it was last year at this time, when we had 80 active listings. And to give you some perspective, we had 147 active listings in mid-October 2014.

Technically, the overall market is a ‘Seller’s’ market. However, some price ranges, above roughly $600K, have sufficient for-sale homes to provide Buyers with the advantage. The current average list price of an Eastham for-sale home is almost $850K (Wow!). Homes that are priced-to-sell will sell pretty quickly. My hope is that the continued low mortgage rates (under 4%) will convince some potential buyers that Fall is when they should buy. 
More Interesting Articles

Several times a week I find an article that deserves to be re-seen. These I post to my Facebook 'corporate' 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"
Daily Updates - New FlexMLS Access

Do you get my Daily Updates of new listings? Well. the service that I've used for over 10 years to provide new listings to my customers has been having a 'rough go', as they say. So I'm in the process of replacing it with something that looks to be much better. I moved about 50 folks to this new system over the past month or so ago and it seems to be working well. May I move you to the new system also? Please drop me a note at BobSheldon@remax.net .

The service also has a smartphone App (both for iPhone and Android), called FlexMLS, which you can download. You'll need me to specifically enable it for you, but once enabled it works great. You don't need the App to get access, however. I'm working on a way to allow you to self-enable, but that is, hopefully, only a few weeks away.
New Listing - 4 Bedroom Oceanside Cape

EASTHAM - This 4 bedroom, 2 bath Cape sits on a landscaped half acre, just a short walk to the High School and the Cape Cod National Seashore. This house has a wood burning fireplace, ......

Read more
bobseastham.blogspot.com
New Listing - Bayside 3 Bedroom Saltbox - So Nice!

EASTHAM - This is an updated 3 bedroom Cape Saltbox home, on a nicely wooded half acre, in South Eastham. Enjoy the bright open kitchen/dining area, flowing into a large living room with ...........

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bobseastham.blogspot.com
Like New 3 Bedroom Cape - Walk to Campground Beach

EASTHAM - Delightful, like-new 3 bedroom Cape. This one-floor-living home has a granite and stainless kitchen, open floorplan with living room with gas fireplace, and a larger bedroom. The second floor has 2 front-to-back ....

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bobseastham.blogspot.com
New Listing - Large Cape Near Bike Path

EASTHAM - This is a larger and newer 3 bedroom Cape home in a nicely established neighborhood, with nearby (100ft) access to the Cape Cod Rail Trail bike path. Downstairs is a large living/dining area, a kitchen with a lot of...

Read more
bobseastham.blogspot.com
I Need Your Help ...

The Fire Department has asked me to help compile a list of Beach and/or Neighborhood Associations in Eastham. They are mainly looking for the responsible individuals that they can contact if and when they have a concern about access to homes within the Association. This is primarily an off-season concern. Who should they call if a tree blocks a road so emergency vehicles can't get to a group of homes?

So... if you are a member of an Association, please send me the contact's information. I need the Name of the Association, the streets that it covers, and a name (with phone, and email address, if possible) of the responsible individual for the Association. Partial info is OK - I'll do the follow up. Please send it to BobSheldon@remax.net .
Short Subjects ....

News - Work has begun on the new wheelchair accessible (no stairs) path to Nauset Light Beach.

New YouTube Videos

Coming Soon - Here are a new listing that will come fully online in the next few days
Mortgage Corner - Still Holding at Under 4%

Mortgage rates have remained at 3.875% (3.956% APR) for 5 months running. The latest Fed rate hike hasn't affected the rates much, but the future is the 'unknown'. It must be noted that the recent rate hikes have moved the 30 year fixed mortgage rates from roughly 3.5% to just-under 4% in the last 15 months. Is now the time to buy your Eastham summer home, before the rates go up again?
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 fall, I'd love to provide you with listing sheets (and a map) of available properties. You can then do drive-bys of properties that interest you, and then we'll schedule an appointment for a showing. It's really simple.

Sellers: Would you like to know what your Eastham home is worth in today's low inventory marketplace? Call me for a no-obligation market analysis review of your property.