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December 2016 Nantucket Real Estate Market Insights


Market Insights

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While the full-year tally left the 2016 Nantucket real estate market shy of the $1 billion mark, it was a banner year by all other metrics. Excluding foreclosures and covenant sales, December’s figures included 42 transactions totaling $69 million. This brought fiscal year totals to 472 property transactions comprising $949 million in sales. This represented a slight transaction decline from 2015 but the fourth best dollar volume performance in Nantucket’s history. Broadly speaking, property values saw a modest increase with a three percent rise in the median sale value over 2015, while several resales (see above) highlighted more significant valuation increases for turnkey homes. Speculative home sales jumped, particularly at the higher end of the market, while land sales declined on account of limited inventory. Affordable home sales also enjoyed tremendous comparative success, though this data is excluded from the full-year figures included herein. Here are Fisher’s December Market Insights