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Todd Rousher's Blog

By Todd Rousher | Agent in Provincetown, MA

Wellfleet Real Estate Market Update - 2010 Year End Review

2010 Market Results
Overall, 2010 was a very good year for sales in Wellfleet. There were 75 sales, the best year since 2007. Also, the Median and Average sales prices rose significantly over the previous year- it’s definitely headed in the right direction.
45 houses sold under $500,000, 30 sold over $500,000, so there are definitely buyers out in all price segments.

 

Sold Properties By Year

Wellfleet

Jan 01 2007 - Feb 05 2011


Year

Num of
Properties
Sold

Avg
Listing
Price

Avg
Selling
Price

Median
Selling
Price

Selling
% of
Asking

Avg
% Price
Reduction

Avg Days
on
Market

Avg Price
per
SqFt

2011

8

$587,087

$541,313

$578,500

92%

7%

222

$430

2010

75

$530,680

$495,919

$442,500

93%

4%

249

$359

2009

60

$475,415

$440,388

$425,500

92%

6%

226

$353

2008

56

$598,607

$548,407

$522,750

91%

8%

269

$401

2007

91

$634,987

$595,970

$465,000

94%

3%

218

$426


290

$566,650

$527,213

$455,000

93%

5%

238

$389


 

2010 Sold Properties by Price

Jan 01 2010 - Dec 31 2010


Range

Num of
Sold
Listings

Avg
Listing
Price

Avg
Selling
Price

Median
Selling
Price

Selling
% of
Asking

Avg
% Price
Reduction

Avg Days
on
Market

Avg Price
per
SqFt

$0 - $250K

13

$147,285

$135,923

$124,000

92%

9%

344

$241

$250K - $500K

32

$395,697

$369,931

$390,000

93%

3%

235

$317

$500K - $750K

19

$591,816

$564,097

$562,000

95%

3%

210

$328

$750K - $1M

4

$865,375

$807,813

$858,125

93%

0%

172

$540

Over $1M

7

$1,502,571

$1,377,143

$1,350,000

92%

6%

289

$686


75








 *Data provided by Cape and Islands MLS

 

2011 Outlook
8 properties have already closed this year and there are already another 9 properties under agreement- 3 over $900,000. High end buyers are definitely back in town.  With prices increasing and interest rates predicted to rise (but still at historic lows) the 2011 market looks poised to surpass all time sales and price records! This is a perfect time to both buy and sell.

 

Check out my website for property searches and sales reports. 
You can also create your own custom market reports like those above.
  www.toddrousher.com
 





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