Provincetown Real Estate Sales 2012: The Year in Review

The market is rebounding!  Provincetown Real Estate Sales volume for 2012 was up nearly 52% over 2011!!!  To follow, find the year-end statistics for Provincetown.  Our data comes from the Multiple Listing Service and does not reflect private sales.  However; in this market, the vast majority of sales are MLS sales.

There were 229 properties sold in Provincetown in 2012, with a total sales volume of $127,089,190.

There were 169 properties sold in Provincetown in 2011 with a total sales volume of $84,080,775.

There were 172 properties sold in Provincetown in 2010 with a total sales volume of $92,695,116.

There were 144 properties sold in Provincetown in 2009 with a total sales volume of $67,930,378.*

*Sales figures exclude timeshare properties.

Table 1:  Number of Properties sold with Average Sale prices.

2012# Properties Sold/Average Price 2011# Properties Sold/Average Price 2010# Properties Sold/Average Price 2009# Properties Sold/Average Price
Single Family 52 / $911,490 31 / $828,481 23/$1,086,804 25 / $718,284
Income/Multi Family 4 / $768,750 15 / $808,053 8/$719,563 8 /  $662,301
Lots and Land 3 / $248,333 4 / $465,750 6/$257,167 2 / $235,000
Comm/Indust/Bus 2 / $129,000 3 / $1,268,333 5 / $415,500 5 / $316,750
Condominium 166 / $420,721 113 / $400,170 124/$395,094 104 / $412,864
Hotel/Motel  2 / $2,887,000 3 /$1,093,000 6/$1,555,000 0 / 0
TOTAL 229 Properties Sold 169 Properties Sold 172 Properties Sold 144 Properties Sold

 

Table 2:  Average Days on Market of Sold Properties

2012 2011 2010 2009
Single Family 225 220 287 279
Income/Multi Family 79 310 186 115
Lots and Land 1450 444 498 719
Comm/Indust/Bus 266 202 343 218
Condominium 196 234 249 213
Hotel/Motel 750 231 550 —–

 

Table 3: Percentage of Sale Price to List Price

2012 2011 2010 2009
Single Family 87.66% 91.60% 90.66% 90%
Income/Multi Family 91.06% 91.06% 91.9% 87%
Lots and Land 57.44% 92.77% 66.77% 62%
Comm/Indust/Bus 86.32% 78.26% 88.7% 76%
Condominium 95% 94.08% 92.61% 93%
Hotel/Motel 91.65 90.86% 87.01% —–

Activity Summary

The market in 2012 was very robust!  Volume was up significantly over last year, percentage of sale to list price was up in the most active category of condominium sales, and average market times for condominiums shortened by 16% over last year.  Interest rates remained low all year, and played a large role in prodding buyers to come into the market.  Sales were also prompted by the fear of 2013 changes in capital gains tax and the onset of the  3.8% Medicare Surtax on Investment Income in 2013, resulting in a greater number of December sales than usual.

From our perspective,  the bottom of the market is in the rear view mirror.  Shorter market times, higher average sale prices, and lessening inventory are all relevant factors.

The total volume of MLS sales in 2012 was $127,089,190.  That is approaching the volume of Provincetown’s highest volume year of 2005, which topped out at $139,366,255.  The number of properties sold this year, 229, exceeded the 228 that were sold in 2005.

Highs and Lows

The lowest priced residential condominium to sell last year was studio unit on Union Wharf in the West End . The unit has 150 SF and sold for $106,896.

The highest priced residential condominium was a free-standing, 2 bedroom/2.5 bath, waterfront townhouse at 79 Commercial Street, Unit #1. The unit has 1,600 SF and sold for $1,550,000.

The lowest priced single family residence to sell last year was a three bedroom house at 217 Bradford Street that needed a complete rehab. It has 1,140 SF and sold for $212,500.

The highest priced residence was an Atlantic Bay Sotheby’s sale at 29 Commercial Street.  This is a spectacular four bedroom, 3.5 bath, bay-front home in a very desirable stretch of the West End waterfront. It has 2,940 SF and sold for $2,925,000.  We proudly represented the buyers and the sellers of this lovely property.

21105561_0121105561_33

 

 

 

 

 

Sotheby’s International Realty Brand Introduces Luxury Website for Waterfront Market Segment

Once again, we proudly distinguish ourselves from our competition by offering our seller clients a new website for marketing their waterfront property to an international audience of the world’s most qualified buyers.  Sotheby’s International Realty Affiliates LLC announced the launch last week of a Waterfront specialty market website, the second in a planned series of branded websites for specialty markets.

The specialized website, which can be found at waterfrontpropertysir.com, matches the look and feel of the brand’s website, sothebysrealty.com, and provides detailed Waterfront lifestyle and listing information and resources. The website enables buyers and sellers to search for the finest properties in this segment and the sales professionals who represent them. It covers a full spectrum of lifestyle types and properties including: ocean and beach, riverfront, lakefront, island and boating. This site was launched with more than $13 billion of waterfront property listings worldwide. The website will also highlight notable sales in this segment.

“The Waterfront segment offers some of the most striking photography, making it a natural choice for a specialty market website,” said Wendy Purvey, chief marketing officer, Sotheby’s International Realty Affiliates LLC. “Waterfront is far and away the most searched lifestyle on sothebysrealty.com, so there is a great consumer fascination with this market. We will continue to enhance this specialty market website by adding custom content on waterfront living based on the body of water. For example, the site will convey what it is like living on an island in the Bahamas versus living on a lakefront in Italy or Minnesota.”

In addition to searching for waterfront properties on this new site, our buyers can easily search for property on the outer Cape through our website, atlanticbaysir.com.  You’ll find one-click links that will quickly do the searching for you, for example Provincetown Single Family homes, Provincetown Condos, Truro Single Family homes, B&B’s and Inns for sale and many others.

The Sotheby’s International Realty network currently has more than 12,000 sales associates located in approximately 625 offices in 44 countries and territories worldwide.

About Sotheby’s International Realty Affiliates LLC 

Founded in 1976 to provide independent brokerages with a powerful marketing and referral program for luxury listings, the Sotheby’s International Realty network was designed to connect the finest independent real estate companies to the most prestigious clientele in the world. In February 2004, Realogy Corporation, a global provider of real estate and relocation services, entered into a long-term strategic alliance with Sotheby’s, the operator of the auction house. The agreement provided for the licensing of the Sotheby’s International Realty name and the development of a full franchise system by Realogy’s subsidiary, Sotheby’s International Realty Affiliates LLC. Affiliations in the system are granted only to brokerages and individuals meeting strict qualifications. Sotheby’s International Realty Affiliates LLC supports its affiliates with a host of operational, marketing, recruiting, educational and business development resources. Franchise affiliates also benefit from an association with the venerable Sotheby’s auction house, established in 1744.

Sales volume surges on the outer Cape! A look at the first two quarters…

Sales are up over last year in all three Outer Cape towns for the first two quarters of this year.    We can attribute this to high inventory, record-low interest rates and a general sense that the bottom of the market is creeping into our rear view mirror.  Also pushing buyers with cash into the real estate market is a volatile stock market.  All of these factors have combined to push sales volume up 36% in Provincetown, 102% in Truro, and 26% in Wellfleet.

Truro and Wellfleet saw their biggest surge in the sales of single family homes, where Provincetown surged in the sale of single family homes and condominiums.  Median sale prices also climbed in Provincetown and Truro for residential properties.  Wellfleet traditionally lags the other two markets, as is evident by its statistics.

 

Provincetown

Sales Volume

# of properties sold

Average DOM for SF & Condos

2012 (Jan 1-June 30)

$51,269,400

103

196

2011 (Jan 1-June 30)

$37,759,350

78

212

Highs and Lows

There have been 5 single families over $1M to sell so far this year, as compared with only 3 during the first 6 months of last year.  The highest priced sale YTD was a 4BR/3BA waterfront home with 2647 SF for $1,800,000 in Provincetown’s far East End.   The buyer was represented by Atlantic Bay Sotheby’s International Realty.

The lowest priced property to sell this year was a bank owned 2BR condominium for $141,000.    Last year’s lowest priced condominium sold for $91,500.

 

Truro

Sales Volume

# of properties sold

Average DOM for SF & Condos

2012 (Jan 1-June 30)

$29,578,180

47

252

2011 (Jan 1-June 30)

$14,641,878

33

393

Highs and Lows

There have been 3 single families over $1M to sell so far this year, as compared with only 1 during the first 6 months of last year.  The highest priced sale YTD was a 4BR/4.5BA bay front home with 4786 SF for $2,750,000.

The lowest priced property to sell this year was free-standing seasonal cottage at Salt Air condominiums for $110,000.    Last year’s lowest priced condominium was a connected cottage for $66,000.

 

Wellfleet

Sales Volume

# of properties sold

Average DOM for SF & Condos

2012 (Jan 1-June 30)

$20,040,900

41

297

2011 (Jan 1-June 30)

$15,957,286

32

214

 Highs and Lows

There has been only 1 single family home over $1M to sell so far this year, as compared with 2 during the first 6 months of last year.  The highest priced sale YTD was a 3BR/2BA bay front home with 3000 SF for $1,150,000.

The lowest priced property to sell this year was free-standing seasonal cottage at Pilgrim Acres condominiums for $187,500.    Last year’s lowest priced condominium was a cottage for $97,500.

 

Views from the Other Cape

a postcard from our affiliate office on the north shore of Boston….

“The Cape,” as most people know it in New England, is Cape Cod — home of the Kennedys and playground of the rich and famous. However, there is another Cape. And that one offers waterfront views to rival Cape Cod’s.

Cape Ann is located on the North Shore of Boston. It has been the base for many artists and writers throughout the years who’ve come to be inspired by the ocean views, the colonial era buildings and the majestic boats. The communities on this Cape include Gloucester, Rockport, Essex and Manchester. Surrounding towns also provide equally stunning views, like Ipswich, Marblehead, Beverly and Newburyport.

Both Cape Cod and Cape Ann provide the luxury lifestyle within charming and historic New England fishing villages. Atlantic Bay Sotheby’s International Realty has been sharing wonderful photos of Cape Cod. We wanted to share some of our favorite views from our homes the other Cape.

 

http://www.bytheseasir.com/exclusive/killybracken_estate_gloucester

 

http://www.bytheseasir.com/exclusive/beverly_cove_estate

 

http://www.bytheseasir.com/properties/Beverly/Prince-Street/4845827

 

http://www.bytheseasir.com/properties/Gloucester/Magnolia/Shore-Road/4806686

 

 

http://www.bytheseasir.com/properties/Rockport/Old-Penzance-Road/2776684

 

Visit the By the Sea Sotheby’s International Realty site to see more North Shore real estate.

Sotheby’s International Realty Brand Wins ‘Best in Category’ for Fifth Consecutive Year

PARSIPPANY, N.J. (March 5, 2012) – Sotheby’s International Realty Affiliates LLC today announced it won Franchise Business Review’s Best in Category for Real Estate Franchisee Satisfaction award for the fifth year in a row.
The Best in Category award measures franchisee satisfaction with their franchisors and is part of the 7th annual Franchisee Satisfaction Awards presented by Franchise Business Review. In addition to its real estate ranking, the brand also came in second overall among the Top 50 Large Franchise Systems, which is a ranking of all franchise systems with more than 200 units across all categories.
“We are very proud to earn this honor for the fifth year in a row,” said Michael R. Good, chief executive officer, Sotheby’s International Realty Affiliates LLC. “We are dedicated to providing the best service we can to our valued network members, whom we hand select to affiliate with our brand. This recognition is a testament to the value we provide them in making their businesses more prosperous and successful.”
Franchise Business Review surveyed more than 22,000 franchisees from more than 300 leading systems for the 7th annual Franchisee Satisfaction Awards. Franchises were evaluated in five areas: training and support, franchise system, franchisor/franchisee relations, financial opportunity and overall satisfaction. Additionally, demographic and lifestyle questions gave a 360-degree view of the franchise ownership experience. Franchise Business Review is a national franchise market research firm that performs independent surveys of franchisee satisfaction and franchise buyer experiences. For a complete list of this year’s award winners, go to www.FBR50.com.
“What impresses me most about the Sotheby’s International Realty brand is that they really ‘get’ the value of their franchisee satisfaction data,” said Franchise Business Review president Michelle Rowan. “Despite being at the top of our awards list every year, they take the time to thoroughly digest their data and use it to improve their franchisee satisfaction year after year.”
The Sotheby’s International Realty® network currently has nearly 12,000 sales associates located in approximately 590 offices in 44 countries and territories worldwide.
About Sotheby’s International Realty Affiliates LLC
Founded in 1976 to provide independent brokerages with a powerful marketing and referral program for luxury listings, the Sotheby’s International Realty network was designed to connect the finest independent real estate companies to the most prestigious clientele in the world. In February 2004, Realogy Corporation, a global provider of real estate and relocation services, entered into a long-term strategic alliance with Sotheby’s, the operator of the auction house. The agreement provided for the licensing of the Sotheby’s International Realty name and the development of a full
Sotheby’s International Realty Affiliates LLC 1 Campus Drive Parsippany, NJ 07054

franchise system by Realogy’s subsidiary, Sotheby’s International Realty Affiliates LLC. Affiliations in the system are granted only to brokerages and individuals meeting strict qualifications. Sotheby’s International Realty Affiliates LLC supports its affiliates with a host of operational, marketing, recruiting, educational and business development resources. Franchise affiliates also benefit from an association with the venerable Sotheby’s auction house, established in 1744. For more information, visit www.sothebysrealty.com.

Provincetown Condominium Donated to the Humane Society

Check out this article about a condominium we have listed in Provincetown that was donated to The Humane Society of the United States.  The proceeds from this sale will go toward farm animal advocacy.

DETAILS AND PHOTOS OF 293 COMMERCIAL STREET, PROVINCETOWN

The perfect in town pied-a-terre! This is a bright and sunny 2nd floor studio unit, located in the heart of Provincetown’s downtown district, just steps from the pier. Windows facing south and west offer great light and sweet water views. Located in a mixed-use condominium consisting of 12 commercial spaces and 9 residential. Weekly rentals and pets for owners okay (limit 2 pets). The unit is offered fully furnished and equipped.

LISTED AT $215,000

 

 

 

2011 Year In Review Provincetown Sales

The year-end numbers are in!

Our data comes from the Multiple Listing Service and does not reflect private sales.  However; in this market, the vast majority of sales are MLS sales.

There were 169 properties sold in Provincetown in 2011 with a total sales volume of $84,080,775.

By comparison, there were 172 properties sold in Provincetown in 2010 with a total sales volume of $92,695,116

and 144 properties sold in Provincetown in 2009 with a total sales volume of $67,930,378.*

*Sales figures exclude timeshare properties.

 

Table 1:  Number of Properties sold with Average Sale prices.

2011# Properties Sold/Average Price 2010# Properties Sold/Average Price 2009# Properties Sold/Average Price
Single Family 31 / $753,821 23 / $1,086,804 25 / $718,284
Income/Multi Family 15 / $704,898 8 / $719,563 8 /  $662,301
Lots and Land 4 / $425,000 6 / $257,167 2 / $235,000
Comm/Indust/Bus 3 / $1,015,000 5 / $415,500 5 / $316,750
Condominium 113 / $376,392 124 / $395,094 104 / $412,864
Hotel/Motel 3 /$953,833 6 / $1,555,000 0 / 0
TOTAL 169 Properties Sold 172 Properties Sold 144 Properties Sold

 

Table 2:  Average Days on Market of Sold Properties

2011 2010 2009
Single Family 220 287 279
Income/Multi Family 310 186 115
Lots and Land 444 498 719
Comm/Indust/Bus 202 343 218
Condominium 234 249 213
Hotel/Motel 231 550 —–

 

Table 3: Percentage of Sale Price to List Price

2011 2010 2009
Single Family 91.60% 90.66% 90%
Income/Multi Family 91.06% 91.9% 87%
Lots and Land 92.77% 66.77% 62%
Comm/Indust/Bus 78.26% 88.7% 76%
Condominium 94.08% 92.61% 93%
Hotel/Motel 90.86% 87.01% —–

 

Activity Summary

2011’s market summary shows a stable, relatively flat market. Sales volume was down slightly over last year, but the good news, is that the average days on the market was less in almost every category. This tells us that asking prices are more in line with market value and the buyers are responding positively. The percentage of sale to list price also edged up a bit in 2011 further reflecting a slightly improving market.

From our perspective, we saw some old inventory get absorbed, after years on the market.  We also saw the return of many buyers to the market after years of waiting on the sidelines. The selling season was steady throughout last year, save for a 2 month lull after the volatile stock market activity in August.  The year also distinguished itself by showing an increase in the number of cash sales over previous years.

 

Highs and Lows

The lowest priced residential condominium to sell last year was a year-round studio near Beach Point at 962 Commercial Street, Unit #6. The unit has 195 SF and sold for $91,500.

The highest priced residential condominium was a free-standing, three bedroom, waterfront townhouse at 523 Commercial Street, Unit #1. The unit has 2,237 SF , was in need of updating, and sold for $926,500.

The lowest priced single family residence to sell last year was a three bedroom house at 3 Webster Place that needed a complete rehab and did not have parking. It has 1,322 SF and sold for $278,000.

The highest priced sale of a residence was at 5 Harbour Drive, in Provincetown’s East End at the luxury subdivision of Bay Harbour.  This is a spectacular and brand new three bedroom, five bath, bay-front home. The 2850 SF home sits on almost an acre of land,  includes an in ground swimming pool and it sold for $2,950,000.  Atlantic Bay Sotheby’s International Realty proudly represented the buyers.

 

 

 

Simple Staging Tips

If you are just listing your property for sale, or even if it’s been on the market for a while, consider the following simple tips to make your property present in its best light:

  1. Paint:  Freshen and Neutralize. If you have any walls painted with bold colors, consider repainting them in neutral tones.  Bold colors are not widely appealing, and can distract the buyer from considering your property as a contender.  If your walls are already a neutral color, go through your house with an objective eye, and retouch any areas that may be scuffed or worn.  One often overlooked area for paint is your stair risers.  A fresh coat of paint on your risers makes a big impression.  Same goes for trim around your doors, especially near the door knobs.
  2. Depersonalize: Pack away your family photos. You’d be surprised how often buyers spend time looking at your photos instead of looking at your house.  Eliminate any photos or highly personal objects that draw too much attention.  The idea is for the buyer to picture him/her self in the space, not to get to know your family.  In general, de-cluttering your home gives the impression of increased space.
  3. Bedding and Slip Covers:  A little goes a long way. We get so used to our own furniture and bedding, that we may not realize that it is starting to look worn.  A simple an inexpensive way to freshen your furniture is to cover couches or chairs with a simple slip cover – buy neutral colors and fabrics.  Also, consider a new duvet cover for your beds.  Crisp linens make a positive impression.
  4. Lighting:  Make sure buyers can see your house.  Make sure you have ample and well-placed lamps throughout your house.  Table and floor lamps offer a warmer light than overheads.  Even during daytime showings, lamps make your home feel inviting.
  5. Curb Appeal:  First impressions are lasting. Grab a friend and ask for advice.  Stand outside your house and approach the front door together.  Have your friend share with you any negative impressions.  Is there a rip in the screen door?  Is a brick loose on your front stoop?  Is there a garden bed that is overrun with weeds?  Often times, we become blind to our own deferred repairs, and a fresh set of eyes can set you straight.  You don’t want a buyer to be mentally starting a repair list before they have even set foot in your home.

Provincetown Real Estate Sales 2010 Wrap up

The year-end numbers are in! Over the next few updates, we will review the final sales figures from MLS along with a comparative analysis of this year in relation to the prior two years. We’ll start with Provincetown this week, and we’ll look at Truro and Wellfleet in the coming weeks.

Our data comes from the Multiple Listing Service and does not include private sales. The vast majority of sales that occur in this market are MLS sales.

There were 172 properties sold in Provincetown in 2010 with a total sales volume of $92,695,116.
There were 144 properties sold in Provincetown in 2009 with a total sales volume of $67,930,378.
There were 151 properties sold in Provincetown in 2008 with a total sales volume of $88,098,251.*

* Sales figures exclude timeshare properties.

Table 1:  Number of Properties sold with Average Sale prices.

2010

# Properties Sold/Average Price

2009

# Properties Sold/Average Price

2008

# Properties Sold/Average Price

Single Family 23 / $1,086,804 25/$718,284 31 / $971,742
Income/Multi Family 8 / $719,563 8/$662,301 8 /  $906,250
Lots and Land 6 / $257,167 2/$235,000 2 / $387,500
Comm/Indust/Bus 5 / $415,500 5 / $316,750 3 / $1,015,000
Condominium 124 / $395,094 104/$412,864 105 / $319,551
Hotel/Motel 6 /  1,555,000 0/0 2 / $3,525,000
TOTAL 172 Properties Sold 144 Properties Sold 151 Properties Sold

Table 2:  Average Days on Market of Sold Properties

2010 2009 2008
Single Family 287 279 292
Income/Multi Family 186 115 362
Lots and Land 498 719 462
Comm/Indust/Bus 343 218 374
Condominium 249 213 155
Hotel/Motel 550 65

Table 3: Percentage of Sale Price to List Price

2010 2009 2008
Single Family 90.66% 90% 83%
Income/Multi Family 91.9% 87% 84%
Lots and Land 66.77% 62% 89%
Comm/Indust/Bus 88.7% 76% 86%
Condominium 92.61% 93% 94%
Hotel/Motel 87.01 78%

Activity Summary
This year’s market activity shows promise for the end of the downturn. Sales volume was up almost 30% over last year and the number of transactions are up significantly. The most notable segment of the market to demonstrate a rebound is the Hotel/Motel category. With no guest house transactions since July of 2008, we saw 7 transfer in 2010 (1 was a non-mls sale and does not appear in the above statistics). It’s also notable that there were 6 land sales in 2010 versus 2 in 2009.

From our perspective, we saw many buyers coming back to the market. The selling season was steady throughout last year without any lulls in activity. In addition, it appears that the volume of inventory is finally lessening, which bodes well for values holding steady.

Highs and Lows
The lowest priced residential property to sell last year was a bank owned studio condominium at Ship’s Bell Condominium at 586 Commercial Street. The unit has 285 SF and sold for $130,000.

The highest priced property to sell was a single family home at 7 Harbour Drive in the East End’s newly built subdivision, Bay Harbour. The brand new 5BR/4.5BA 4000 SF single family home sits right on the beach and offers extraordinary views of Provincetown. The construction and finishes are all high-end and the property also has a detached garage. It sold for $3,000,000 at the end of July 2010. (2009’s highest priced sale was $1,600,000).

Truro 2009 Year End Sales Report

This week, we review Truro’s final sales figures from MLS along with a comparative analysis of this year in relation to the prior two years.   Our data comes from the Multiple Listing Service and does not include private sales.  The vast majority of sales that occur in this market are MLS sales.

There were 58 properties sold in Truro in 2009 with a total sales volume of $28,710,230.
There were 74 properties sold in Truro in 2008 with a total sales volume of $42,903,850.
There were 61 properties sold in Truro in 2007 with a total sales volume of $36,974,833.

Table 1:  Number of Properties sold with Median Sale prices.
The median reflects the sales price that is exactly in the middle of all the figures for that category.  For example, if 26 properties sold, 13 were priced above the median, and 13 were priced below the median.

2009
# Properties Sold/Median Price

2008
# Properties Sold/Median Price

2007
# Properties Sold/Median Price

Single Family

29 / $542,180

44 / $605,400

33 / $587,500

Income/Multi Family

—-

—-

1 / $600,000

Lots and Land

4 / $197,500

7 / $640,000

5 / $360,000

Comm/Indust/Bus

1 / $385,000

—-

1 / $4,525,000

Condominium

24 / $266,500

23 / $219,000

21 / $239,000

Hotel/Motel

—-

—-

—-

TOTAL

58 Properties Sold

74 Properties Sold

61 Properties Sold

Table 2:  Average Days on Market of Sold Properties

2009

2008

2007

Single Family

231

251

185

Income/Multi Family

58

Lots and Land

450

531

328

Comm/Indust/Bus

150

589

Condominium

162

171

203

Hotel/Motel

Table 3: Percentage of Sale Price to List Price

2009

2008

2007

Single Family

89%

90%

93%

Income/Multi Family

—-

—-

100%

Lots and Land

96%

90%

93%

Comm/Indust/Bus

86%

—-

70%

Condominium

92%

92%

92%

Hotel/Motel

—-

—-

Highs and Lows

The lowest priced condominium property to sell this year was a cottage located at 17 Shore Road which sold for $78,000. The unit is seasonal and has 168 SF. The lowest priced single family was located at 55 Shore Road and sold for $275,000.  It is a 73BR/2BA home with approximately 1659 SF and in need of a total renovation.

The highest priced condominium to sell was a seasonal cottage located at the newly constructed waterfront property, Seaside Condominiums, at 482 Shore Road.  The 878 SF waterfront unit with 1BR/1.5BA sold for $550,000.  The highest priced single family home to sell was the newly constructed single family compound, Arcadia, at 101 Prince Valley Road, located high on a bluff within the National Seashore.  The property consists of 3 BR main house with water views and a 2BR guest cottage. The property was on the market for 636 days.