Outer Cape Real Estate (Boston, Plymouth: days on market, houses, buyers) - Massachusetts (MA) - City-Data Forum

Sandpointian · 07-31-2018, 05:17 PM

Just curious about the state of real estate on the Outer Cape. Some observations...

**The prices seem low versus similar real estate in NY or West Coast.

**A number of houses sport lengthy Days on Market.

**Lack of a metro rail all the way to Provincetown seems to be an intentional barrier to development and convenience for the weekend getaway.

Curious how metro Boston and Cape Cod real estate see the market out there.

I live in a small town that gets a large summer swell go humanity in the Summer. Local RE agents add a mark-up entering the Summer and bring it down afterwards. The same out there?

Thanks, S.

tysmith95 · 07-31-2018, 07:45 PM

Provincetown has a ferry from Boston and Plymouth. I don't think that the lack of rail is much of a problem considering that the ferry is a much quicker journey.

Cape Cod Todd · 08-01-2018, 08:48 AM

There used to be a train that went all the way from Boston to Provincetown but that was like 100 years ago. In the Summer there is a weekend train from Boston to Hyannis.

The Cape is very busy in the Summer but quiet in the Winter. We have many snow birds and a number of homes are Summer retreats.

There is no intentional barrier by barring mass transport but the Cape is guarded well to stop development and suburban sprawl and as a result there are many places that are pristine and open. The National Seashore is an example of this where development is kept to a minimum to keep the old Cape Cod natural.

The Cape is the Cape and you cannot apply real estate trends from one area of the country or even from one town to another on Cape. A house in one town could be valued at $350,000 while the same type of house is $1,000,000 in another and it is generally due to proximity to the water.

I work in real estate and a common hiccup with buyers coming in from out of state is that they get hung up on the cost per square foot of a house. That ration does not translate to Cape property.

Houses are not cheap here but the tax rates are when compared to the South Shore of Mass. and certainly places in NJ CT and NY. I have had people from these states be floored when I tell them the taxes on a house they are interested in is yearly not monthly.

The days on market is variable by property but the main drive that sells a house quickly is desirability of a property that is priced right and move in ready. Buyers are not interested in a project and those houses will sit longer.

Are you looking to move to the Cape OP?

tovarisch · 08-01-2018, 12:48 PM

I still remember that P-Town train, from the early '60s. I wish it still existed. The railroad bed, between 6 and 6A, is still there and largely undeveloped, although in P-Town it's become a nature trail.

Sandpointian · 08-02-2018, 02:45 AM

Thanks Todd and tovarisch,

I loved biking the old rail trail.

I used to vacation out there and a friend moved to somewhere around Eastham a few years back. What you say makes perfect sense. Their mill rates amounted to 0.5%, which I thought was outstanding. We see the same here in Sandpoint--proximity to the lake.

It limits non-lake, non-walking-distance-to-town properties to gains at the rate of overall economic growth. Close to town does a little better. Best deals are those close to the water but not waterfront. Then waterfront trades according to regional waterfront market prices.

I like the Wellfleet area. I have stayed at a house in Old Chequessett Woods. I search zillow now and again for houses on that side of town. Some nice ones. Dreaming mostly.

I did wonder about the train since were it to extend to P-Town it would have quite the impact on prices...IMHO...
S.

Cape Cod Todd · 08-02-2018, 06:53 AM

The first passenger trains arrived in Ptown in 1873 and they stopped service in 1938 but freight continued to 1960. The train tracks have been slowly abandoned over the years and they continue to retreat. The rail trail for biking and hiking has been recently extended with cool bridges over Rt 134 in South Dennis, Station ave in South Yarmouth and Bass River.

The trail still ends in Wellfleet but there are plans to extend that but it would involve sections on the street and Rt6.

There are zero plans to return trains to the Cape because we do not have the year round population to support it, people don't want it and they would fight it to the bitter end plus the land that would have to be taken for the rail bed plus the hundreds of millions that it would cost is ridiculous and lets not forget the noise pollution.

Trains have been extended on the South shore and the trains are busy with commuters to Boston every day.

GeoffD · 08-02-2018, 07:14 AM

Quote:

Originally Posted by Cape Cod Todd

There are zero plans to return trains to the Cape because we do not have the year round population to support it, people don't want it and they would fight it to the bitter end plus the land that would have to be taken for the rail bed plus the hundreds of millions that it would cost is ridiculous and lets not forget the noise pollution.

Trains have been extended on the South shore and the trains are busy with commuters to Boston every day.

Err.... You can get on a train in Boston South Station at 5:50pm on summer Fridays and get off in Hyannis. There are also 8am weekend trains for day trippers. Last I heard, Hyannis is on Cape Cod. The Cape Flyer also has coordinated bus service to the ACK ferry if you don't want to walk 10 minutes. It's not outer cape but the Cape has train service.

The Middleboro-Lakeville line that train runs on is archaic low speed diesel rail that needs upgrading. If you put in 130 mph rail service, you'd have Boston commuters.

Cape Cod Todd · 08-03-2018, 08:08 AM

Quote:

Originally Posted by GeoffD

Err.... You can get on a train in Boston South Station at 5:50pm on summer Fridays and get off in Hyannis. There are also 8am weekend trains for day trippers. Last I heard, Hyannis is on Cape Cod. The Cape Flyer also has coordinated bus service to the ACK ferry if you don't want to walk 10 minutes. It's not outer cape but the Cape has train service.

The Middleboro-Lakeville line that train runs on is archaic low speed diesel rail that needs upgrading. If you put in 130 mph rail service, you'd have Boston commuters.

I am familiar with the Cape Flyer and mentioned it in my first post.

The OP was referring to train service being returned to the outer Cape and that will never happen for many reasons including the cost, land grabs and the fact that we do not have the population to support a year round commuter train. That is why the Cape Flyer only runs on the weekends in the Summer.

wolfgang239 · 08-03-2018, 10:41 AM

This:

Quote:

Originally Posted by GeoffD

Err.... You can get on a train in Boston South Station at 5:50pm on summer Fridays and get off in Hyannis.

only has the word "train" in common with this:

Quote:

Originally Posted by Cape Cod Todd

There are zero plans to return trains to the Cape because we do not have the year round population to support it

A few months of a few round trips a day 3x/week does not mean the cape actually has meaningful rail service.

Sandpointian · 08-04-2018, 01:02 AM

i was wondering about the longer term conversation (if any) regarding service beyond summer service to Hyannis. Sounds like a no go and therefore the Cape would not in my lifetime become Long Island. I could easily see people lining up on both sides of any such discussion as so much would be at stake...

thanks again for all comments one this thread...

S.