When I did some research on pre-foreclosures in Cape Cod towns on May 6, 2008, P-Town was one of the Cap Cod towns that had only a few properties in pre-foreclosure. Only 1.3% of the 140,000(+-) homes on the Cape were at the stage of pre-foreclosure on that date. Most homes on the cape are owner occupied, but in Provincetown almost 60% of the 2400 residential properties are second homes. Most other communities on the Cape have less than half of their homes designated as second homes. Commercial properties are not included in the pre-foreclosure data I found.
Provincetown, MA is the farthest town out on Cape Cod, Massachusetts. It is bounded by Cape Cod Bay, the Atlantic Ocean, and Truro. Most of the properties in Provincetown are second homes (58%+-). Provincetown is another one of the towns on Cape Cod that has lots of beaches. This area of the Cape is known for its colorful summer tourists. Even with its high second home percentage, Provincetown real estate had only 17 properties in pre-foreclosure when I ran my last report on May 6, 2008.
Provincetown doesn't have villages like other towns on the Cape. Keep in mind these are PRE-foreclosures (as of 5/6/08) and some will not go to complete foreclosure.