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Nantucket Real Estate Year in Review 2018 Preview


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Fisher Real Estate
real estate year in review nantucket

Cumulative Real Estate Sales & Transaction Volume

Record-setting first & fourth quarters propel market to second best in history

The 2018 Nantucket real estate market tallied an impressive $1.111B*, the second highest dollar volume in island history, bested only by the $1.189B reported in 2005. From a transaction basis, the two years were quite different, with just 448 transactions in 2018, compared to 621 in 2005. Comparatively, there were 19 percent fewer home sales in 2018, 38 percent fewer land transactions and 60 percent fewer commercial property transfers than in 2005, illustrating how property values have increased in the last 13 years. As compared to the five-year average, however, home sales rose modestly, while vacant land and commercial transactions declined.

From a yearly performance perspective, 2018 was bookended by two, record-setting quarters: $266M through 121 transactions in the first quarter and a whopping $425M through 141 transactions in the fourth quarter. October alone saw the biggest monthly performance in Nantucket’s history with 60 transactions totaling $210M, largely due to high-end activity. In fact, on a yearly basis, the high-end of the market saw a record 31 transactions between $5M-$10M, another record 11 transactions between $10M-$19.99M, and a $25M property sale, which last occurred in 2014.

* Data excludes foreclosure sales, affordable/covenant home sales and the $25.85 million commercial self-storage transaction

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Click here to read Jen Shalley’s 2017 Year in Review.

Written By

Fisher Real Estate