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Nantucket Monthly Market Update, February 2023

Stories

Market Insights

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“For the second month in a row, the Nantucket market saw drastically reduced sales volume as compared to historic norms. February sales included a mere 5 transactions compared to the five-year February average of 17. Dollar volume was similarly low and totaled $17.7 million, compared to a five-year average of $48 million. 

Monthly sales were led by an $8 million sale, $3.8 million sale of land with the balance reportedly being for the construction contract. Aside from a handful of covenant sales, the lowest sale of the month was $800,000 for a two bedroom residence.  

New purchase activity increased from January, although it was significantly lower than during 2021 & 2022.  Sales activity and new contracts continued to be hampered by the sheer lack of inventory as well-priced, new inventory continued to move quickly, illustrating the persistent strength in buyer demand.” Jennifer Shalley Allen

New Listings
$595,000 5 Bluet Court
$925,000 16 Boynton Lane B
$1,049,000 5 Bank Street
$1,495,000 6 Beverly Court
$1,570,000 14 Amelia Drive 3
$1,800,000 5 Rose Bud Lane (portion of)
$3,529,000 2 Fawn Lane
$3,595,000 3 Lyon Street
$3,829,000 15 Fawn Lane
$4,250,000 25 North Water Street
$4,395,000 3 & 3R Lyon Street
$4,500,000 6 Fawn Lane
$5,400,000 3 Milk Street
$5,850,000 51 West Miacomet Road
$6,495,000 16 Squam Road
$11,250,000 28 Medouie Creek Road
$12,350,000 67 Squam Road

Under Agreement
$1,495,000 6 Beverly Court
$1,500,000 111B Old South Road
$1,650,000 1 Lilac Court
$1,695,000 4 Lilac Court
$1,795,000 7 West Chester Street
$1,995,000 32 Cannonbury Lane
$1,995,000 13 Daffodil Lane A
$2,800,000 163 Orange Street
$2,995,000 18 Sleepy Hollow #1
$3,150,000 156 Madaket Road
$4,190,000 14 Pine Street
$4,395,000 36 Sheep Pond Road
$5,100,000 16 Willard Street
$5,300,000 20 Cliff Road
$7,495,000 31 Sankaty Road
$9,750,000 39 Cliff Road

Price Changes
$1,625,000 6C Folger Avenue
$2,395,000 14 Flintlock Road
$3,650,000 16 Gardner Road
$12,495,000 15 & 17 North Water Street & 8 Sea Street

Sold Listings
$800,000 4A Evergreen Way
$2,350,000 163 Orange Street
$2,925,000 21 King Street
$3,525,000 2 Hiawasse Lane
$8,000,000 79 Polpis Road