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September 2017 Nantucket Real Estate Market Insights

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Market Insights

September 2017 Market Insights

September 2017 Nantucket was indeed an excellent sales month, but, contrary to other reporting, it was not the second-best sales month on record for Nantucket real estate, at least for how the market has been traditionally viewed. The $37.5 million sale price of the Nantucket Storage Center overwhelmingly places value on the business not the property, which is only assessed for $9.9 million. Nantucket real estate figures do not include business sales so just as the previous sale of this property for $27 million was widely excluded by most reporting authorities in our market in 2015, it is excluded from Fisher’s 2017 figures. The remaining 59 transactions totaling $145 million are no doubt impressive but are certainly not record setting considering they are just shy of the $148 million in September 2016 and several other monthly totals over the last 15 years. Are we in the midst of a very strong market? Absolutely. And the following market statistics illustrate this, but let’s compare apples to apples. Here are Fisher’s September Market Insights…