Activity This Week

The performance of the real estate market was a bit static this past week.

The optimism in the air created by the combination of low interest rates and low listing prices had generated some sales activity in Provincetown for the first quarter. Although the quarterly comparison to last year was dismal in regards to number of sales, dollar volume had increased. There was one sale this week, a $349,000 condominium. Another condominium, new construction, went pending. The property is listed for $399,000. 

Easter brought many shoppers to town looking at single family homes and condominiums. Traffic volume for shoppers was high on Friday and Saturday. Easter Sunday was very slow, as most realtors observe the holiday and do not work.

Open house traffic for Friday and Saturday of Easter Weekend was also up a bit. As spring proceeds, more open houses will pop with the advent of warmer weather.

The activity over the holiday weekend included numerous second and third showings. These usually lead to offers. However, the interest rates inched up earlier this week causing a ripple effect amongst homebuyers who want to be sure they get the lowest rate possible. 

Compare the real estate market to a Wal*Mart. The store is full of shoppers but only a few are at the register.