Eastham, MA Real Estate
If you want to buy or rent a home in the Cape Cod town of Eastham, MA, do yourself a favor and connect with Boston City Properties. Below, you’ll find an overview of this community’s local real estate market that includes the basic information that you need to get your bearings. More importantly, we maintain one of the largest and most comprehensive online databases of MA property listings and will give you free, instant access. Just complete and submit the simple signup form to get started.
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Buying or renting property virtually anywhere in the state of Massachusetts is often easier said than done. Most local markets have been competitive and fast-paced for some time, and it doesn’t appear like things will change drastically any time soon. With that in mind, it is essential to have access to accurate, up-to-the-second information during your search. The best way to get that is by searching our listings because they are updated around the clock and pulled from reputable sources like the MLS.
Gaining access to our listings is as easy as completing and submitting a quick signup form. Once that’s out of the way, you can immediately start availing yourself of our considerable resources. Use our search tool to identify properties for sale or for rent that suit your basic requirements. Adjust filters for price range, total beds and baths and other attributes to more easily pinpoint viable options. Browse listings that are jam-packed with useful info, including tons of huge, detailed photos. After narrowing things down a little, contact Boston City Properties for a referral to a local agent who can assist you from there. In the meantime, keep reading to learn more about this town’s property market.
Town Overview
If you already know that you want to own property in this town, you probably already know a bit about it. Located in what’s affectionately referred to as the “forearm” of Cape Cod, this small town had a population of just under 5,000 people at the time of the 2010 U.S. Census. Primarily covered by the 02642 zip code, this town is approximately 92 driving miles southeast of downtown Boston. Like most Cape Cod communities, it is dominated by vacation homes.
This small town is bordered extensively by water, with Cape Cod Bay and the Atlantic Ocean forming two of its boundaries. Neighboring communities include Wellfleet and Orleans, and their markets are fairly similar in nature. Before buying or renting a place here, make sure that the local area is affordable enough for you in general. On the cost of living index, where 100 equals the average cost of living in the U.S., this town has a COL of 131.1. That may be higher than the national average, but it is more affordable than the average for the state, which is 137.7.
Market Overview
What are you looking for in this Cape Cod town? Whether you want to buy a detached home or condo or rent an apartment, it helps to get a basic understanding of the local property market. As you can probably guess, the market here is overwhelmingly dominated by vacation homes and rentals, so the usual rules don’t always apply. That’s all the more reason to get a referral to a local agent from Boston City Properties.
Across this small town, there are only 2,291 residential properties currently on record. Because inventory is so limited in general, there aren’t usually many options for sale or rent at any particular time. However, anything that is currently available will appear in our listings, which are updated around the clock. Your first step, then, should be signing up to search our listings. If nothing stands out at first glance, don’t give up. Contact us for more help because a local agent with insider knowledge may be able to assist you.
If you are looking for variety, this isn’t the right town for you. The market here is overwhelmingly dominated by detached single-family homes. They account for a whopping 95 percent of all available residential property types. Only 4 percent of the nearly 2,300 residential properties here are classified as apartments. Townhomes are scarcer still, with only 1 percent of residential properties falling into that category. Although the vast majority of properties are categorized as single-family homes, many of these are designed to serve more as summer cottages than as year-round abodes.
It always pays to have a skilled agent by your side, and Boston City Properties can easily refer you to one who knows this town’s property market like the back of their hand. Although you can do much of the research and other groundwork yourself by availing yourself of our online resources, the unique nature of this market demands professional guidance. If you’re striking out in our listings or are ready to go look at homes in person, contact us for a referral.
Single-Family Homes
The overwhelming majority of properties on the local market here are classified as detached single-family homes, so if that’s what you need, you should be able to choose from a decent selection. There is a pretty big caveat, however: A significant percentage of these homes are intended more as summer cottages than year-round residences. Of course, if you’re looking for a summer home, you will have plenty of options. We can refer you to an agent who specializes in such properties.
Lately in this town, properties have been listing on the market for around $459,000, which is a bit higher than the state median list price of $419,000. Properties here have been selling for around $430,000; again, this is higher than the state average closing price, which is $356,000. The average price per square foot, $287, is much higher than that of the state at large, which is $242. The median size of a single family home here is around 1,900 square feet while townhomes offer an average of 1,100 square feet. In terms of age, 51 percent of homes—the majority—were built between 1970 and 1999. Only around 10 percent were built in the year 2000 or later.
Lately, the market here has had around 60 residential properties for sale at any given time. This figure may be deceiving because a glut typically hits the market in the winter months and then dries up as summer approaches. Homes here tend to sit on the market for an average of 89 days, which is excessive. It’s also good news for buyers because sellers are often more willing to make concessions.
If you are buying a property here for investment purposes or to live in for only a short period of time, you are certain to be concerned about your ability to turn around and sell the place for a decent price later. The vacancy rate here tends to be quite high much of the time, which doesn’t bode well for investors. However, only around 4 percent of properties have negative equity versus around 10.7 percent across the country as a whole. Over the past year, residential properties here have appreciated at a rate of around 3 percent, and they are expected to appreciate by a rate of around 2.6 percent over the next year or so.
Although you probably have your reasons for wanting to buy a home in Eastham, it may be that properties here don’t suit your needs or budget very well. Fortunately, prices and other factors vary widely by location, and we can direct you to options in neighboring communities that may suit your needs better. For example, homes in nearby Chatham have been selling for around $635,000 while homes over in Dennis have been selling for just $326,000. Contact us for a referral to a local real estate expert who can help you find suitable areas on which to focus your search.
Condos and Townhouses
With only around 1 percent of residential properties in this town classified as townhomes or condos, the odds of finding one that suits your needs and budget when you need it are pretty slim. Still, if any are available when you are ready to search, they will show up in Boston City Properties’ listings, which are updated constantly.
The few condos and townhomes that do go up for sale on the local market tend to be more affordable than detached homes. In this town, single-family homes have been selling for around $496,000 over the last few months. Meanwhile, townhomes have been selling for around $388,000. Of course, this also means that when the rare townhome or condo does become available, it is typically snapped up quickly. That’s yet another reason to get a referral to a local agent from a member of our team.
You can search our listings for townhouses and condos just as easily as you can single-family homes. You’ll need to sign up for access first, and that only takes a few seconds. Once you are in, navigate to the search tool. Select this town from the list of locations, and note that you can select more than one location too. Adjust filters for things like size, price and total beds and baths to refine your results more, and you’ll soon have a list of options to explore.
Given the scarcity of this property type in the local market, you may perform your search and discover that nothing along those lines is currently available. Don’t throw in the towel yet, however, because Boston City Properties can refer you to a local agent who may have other options to show you. This agent will also know the area and surrounding communities well, so they may be able to point you toward nearby condos and townhomes that suit your needs.
Apartments
If you are used to apartment hunting in busy rental markets like Boston’s, you’re in for a bit of a rude awakening when searching for one here. Unlike in the big city, where you can take your pick from apartments in dozens of buildings and developments, you have far fewer options at your disposal in this town. Indeed, only 4 percent of the roughly 2,300 residential properties here are classified as apartments, so the pickings tend to be woefully slim much of the time.
Some important information to keep in mind regarding apartments for rent in this community includes the following:
- Affordability – The average monthly rent in the state of Massachusetts is around $2,500. In this town, however, properties rent for an average of around $1,600 per month. While rent is often more affordable here, it’s important to remember that the market is somewhat skewed because of all of the summer rental properties. The agent to whom we refer you will have a better grasp of how the local rental market works, including average rent prices, so their help is sure to be invaluable.
- Rental Market Size – Rental properties here aren’t limited to apartments. In fact, many single-family homes are rented out as summer vacation homes, so you may have more options than you think. In this town, 84 percent of properties are owned while 16 percent are rented. Again, however, these figures may be skewed due to the unique aspects of the local market, including the fact that things shift dramatically between the summer months and the rest of the year. You can easily check Boston City Properties’ listings for current availability of rental properties in this town.
- Features and Options – In much larger rental markets, like those across metro Boston, renters are spoiled for choices and options. Many communities have dozens of apartment developments, with each offering its own selection of layouts, features and amenities. In this town, though, options are much more limited. Renters have to make do with the available offerings, and it can be problematic. If you have specific requirements in mind, it’s even more important to get a referral from us for a local agent. You can then explain to them what you need, and they will use their insider knowledge to help you find something suitable.
Finding apartments for rent in this town is easy with Boston City Properties. After signing up for free, instant access to our listings, you can search them to check current availability for apartments for rent in the area. You can limit your search to just this town, or you can select more than one community to cast a wider net. Adjust filters for total bedrooms and baths, price and other attributes to get only the most useful and relevant results.
How Boston City Properties Can Help
It’s easy to feel overwhelmed when looking for real estate in Eastham, MA. After all, as a Cape Cod community, it has a really unique and complex local market; that applies to both rentals and to homes for sale. A great first step in your search is to sign up with Boston City Properties. It couldn’t be easier—just complete and submit the simple signup form, and you will be good to go. In no time, you will have a list of properties for sale or for rent in this community that meet your basic requirements.
We also have a wealth of resources on our website to aid you in your search, including informative articles and various interactive tools. Our team can send you email updates whenever properties that meet your criteria become available. Later, we’ll even refer you to a local agent who can take you to look at properties from your list and more. For more information, don’t hesitate to call Boston City Properties.
Eastham Condo Developments
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