Chatham, MA Real Estate
Connect with Boston City Properties for timely, accurate information about real estate in Chatham, MA! When you complete and submit the simple form on this page, you’ll get instant, free, unlimited access to our online database of constantly updated MA real estate listings. Populated by reputable sources like the MLS, our database is among the most comprehensive of its kind. Use our search tool to zero in on homes, condos, townhouses and apartments for sale and for rent in and around this charming little town, and count on us for help when needed.
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Small and exclusive, this town has a very unique real estate market. Pickings tend to be slim because there is a limited number of options in general. When a suitable property hits the market, it’s crucial to be aware of it right away so that you can act quickly. You will gain that ability and more with access to Boston City Properties’ searchable listings. What’s more is that we have connections with skilled real estate agents in this town, and we will refer you to one who can assist you through the process when the time is right.
Located on scenic Cape Cod in Barnstable County, the town of Chatham had a population of just 6,125 at the time of the 2010 U.S. Census. With its location in the “elbow” of the cape, this town is roughly 85 miles southeast of the city of Boston. Covered by the 02633 zip code, this town is mostly known as a tourist hotspot during the summer. Whether you are looking for a vacation home to enjoy during the summer or for a place to call home throughout the year, you will get all of the help that you could possibly need with Boston City Properties.
One thing that buyers often fail to consider when budgeting for a new home is the overall cost of living of the area where they are looking. Even if you are able to find a great deal on a home in a particular area, it might be that it costs far too much to live there. On the cost of living index, 100 is the average cost of living in the U.S. Chatham has a cost of living score of 127.4, so it tends to cost more to live here than in other areas—but it’s still more affordable than the state average, which is 137.7.
When it comes to Chatham, MA, real estate, “affordable” isn’t a word that’s often used. Because it’s in the “elbow” of the Cape, or centrally located, this town is one of the most popular communities for year-round residents of the region. Real estate prices here are also affected by the region’s status as a summer getaway. List and closing price for real estate in this town is $1.1 million and $560,000 respectively. Across MA, they are $419,000 and $356,000, so real estate here is considerably pricier. The median cost per square foot, $474, is far higher than the MA average of $242.
Currently, Chatham is experiencing more of a buyer’s market than a seller’s market. Some would even describe the market as being “cold” at the moment, as available inventory has been very low for a considerable period of time. Around 2.8 percent of homes in this town have negative equity, which is promising as it means that the overwhelming majority hold and even gain value. If you are buying a place in the hopes of flipping it in a few years, this is probably a good market to consider.
A very telling indicator of the health of a real estate market is found in how long homes sit before selling. In that regard, Chatham isn’t doing well at all. At any given time, there are upwards of 200 homes on the market. However, they tend to linger there for more than 140 days, which is very excessive. It appears that sellers are demanding high prices and that they aren’t budging very much during negotiations. This is another example of why it pays to have help from an experienced agent, and Boston City Properties can connect you with one who knows Chatham well.
If you buy a home in Chatham, can you be fairly confident that it will retain its value and hopefully even grow in value? As mentioned previously, this town is experiencing a buyer’s market at the moment. While properties are sitting for long periods of time before selling or being removed, they appear to retain their value well from one year to the next. Lately, the year-over-year appreciation rate for residential real estate in this town is around 2.7 percent, which is very strong. That is especially true when you consider how high property values are here to begin with.
There are lots of reasons to want to live in a charming little town like Chatham. However, your budget simply may not allow you to realistically buy or rent a place right in town. That’s again where a little extra help from Boston City Properties and the agent that we refer you to really comes in handy. We can help you find suitable properties within your budget in nearby communities. For example, the median sale price over in Dennis is around $326,000; in nearby Orleans, however, it is $585,000. Our agents are also knowledgeable about property tax rates and cost of living, so you can rest assured of finding something that works with your budget.
As tiny as the town of Chatham is both geographically and by population, its inventory of residential real estate is low. All told, there are around 2,800 residential properties in this town, including single-family homes as well as apartments, condos and townhouses. Of that figure, around 88 percent are detached single-family homes, so that is the easiest type of property to find; around 3 percent are townhouses; and around 10 percent are apartments. Finding something other than single-family homes is tricky, but our agents will make a big difference.
When budgeting to buy a new home in Chatham, MA, you should also take care to remember that different types of properties tend to cost more or less than average. As with most communities, the single-family homes in this town tend to cost a lot more than townhouses. In fact, in 2015, the median sale price for detached homes in Chatham was $585,000 while the median sale prices for townhomes was $366,000. Home values change rapidly, however, and you can get up-to-the-second information by searching our free listings. Just sign up for access to get started. Approximately 80 percent of the properties in Chatham are owned, and only 20 percent are rented. Therefore, if you are looking to buy, you will have a much easier time. Even if you want to rent an apartment or other type of property, you aren’t out of luck. Our database includes listings for apartments and other properties for rent across the state. Note that rent prices here tend to be very competitive, with median rent in MA hovering around $2,500 and median rent in this town averaging around $1,650. The trouble, of course, is finding a place to rent—and Boston City Properties can help.
Regardless of the type of property that you want to buy or rent in Chatham, you can count on Boston City Properties for help and resources that are sure to make a major difference. Vacancy rates in this town are rock bottom, so there aren’t really any abandoned properties bringing values down. However, the inventory of residential properties is extremely low when compared with most other cities and towns in the state, so it is especially important to have access to dependable information. You will get that and much more by connecting with us.
Some info about different property types in Chatham includes:
- Single-family homes – Fully 88 percent of the more than 2,800 residential properties in Chatham are classified as detached single-family homes, so they tend to be the easiest to find. The term “easy” is relative, however, as inventory for even single-family homes tends to be extremely low most of the time. Homes here tend to be large, with single-family homes averaging around 2,300 square feet. Boston City Properties’ search tool lets you input preferences for things like total square footage and total beds and baths, so you can more easily find precisely what you need.
- Townhouses and condos – Large, detached homes dominate the real estate market in this small town, so you won’t find much in the way of townhouses and condos. Indeed, only around 3 percent of properties in this town fall into this category, so you aren’t likely to have many options at your disposal. As noted previously, these tend to be more affordable than detached homes, so if you are on a tight budget, it might be worth considering. If so, definitely get a referral from us to an experienced Chatham real estate expert.
- Apartments – While residential real estate prices tend to be very high in this town, rent prices are remarkably competitive. At around $1,650 per month, they are far lower than the state average, which is $2,500. While you may be able to save money on rent in this community, finding a place to rent is sure to be an uphill battle. You can quickly and easily check current availability by searching our database, which includes listings for apartments and other properties for rent in towns and cities across the state. Our agents also know the rental market well, and their assistance is sure to make a big difference.
How Boston City Properties Can Help
Zeroing in on suitable residential real estate for sale or for rent in Chatham, MA, is a tall order. The community is so small both in terms of area and population that it doesn’t tend to have a very large inventory of homes at any given time. However, more than 6,000 people call it home, so there is no reason why you can’t too. Kick-start your search now by signing up to search Boston City Properties’ listings. Just complete and submit the easy form, and you will be on your way.
With access to our database, you will be on the fast-track to finding Chatham real estate. Navigate over to the search tool to begin. Select this town from the list. Note that you can select more than one town, city or Boston neighborhood if you’d like. Next, adjust filters for things like price range, total square footage and total number of beds and baths to get even more relevant and useful results. You will then have a list of properties to consider, and all listings include in-depth information, lots of photos and even extras like virtual tours.
Finding a new home, townhouse, condo or apartment in Chatham, Massachusetts, needn’t be a huge ordeal. Instead of going it alone and hoping for the best, connect with Boston City Properties to ensure fast, reliable results. Through our searchable listings alone, you can quickly zero in on options that closely suit your requirements. Whenever you are ready to check out properties on your list, contact us to be connected with an experienced local real estate agent who can take it from there. They can arrange visits to properties on your list, provide guidance during negotiations and assist you through closing. For more information, please call Boston City Properties.
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