Rely on more than headlines or word-of-mouth commentary by leveraging Fisher Real Estate’s market analytics page, a comprehensive stream of real-time, Nantucket property sales and information.
For a relatively small island 30 miles out to sea, the local market is anything but small. In fact, for the last few years, annual sales volume has totaled approximately $1 billion through 400-500 transactions. Single-family home sales range from $400,000 to $25 million+, with the average sale price around $2.5 million. A market as dynamic as Nantucket’s deserves regular, comprehensive analysis, which you’ll find here on our insights page. From charts and graphs to our monthly and annual reports, we cover the market from all sides. Take a look…
For the first time in island history, every single month posted over $100 million in sales through June 30, 2021. April activity alone witnessed more than $250 million. Suffice it to say, the Nantucket real estate market continues on the trajectory that commenced just about 12 months ago. Cumulatively, through June 30, 2021, activity soared to 339 transactions totaling $881 million, a respective 165 percent and 172 percent increase from one year ago. Even compared to the five-year average, however, transaction volume increased by 65 percent while dollar volume surged 83 percent. At the time of this writing, there was also over $300 million in the pipeline, suggesting 2021 is on track to meet or surpass 2020 results. The looming question is whether inventory levels will be sufficient to meet at least part of the demand.
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Despite the uncertainty with which 2020 started, the Nantucket real estate market saw a significant increase in buyer demand in early June and momentum never ceased from there. Full-year results tallied approximately $1.85B in sales, a 50 percent increase from 2019 and $670 million higher than the best market on record in 2005. Nantucket real estate transactions in 2020 represented the highest number of homes sales ever recorded, the highest number of high-end sales ($5M+) in a one-year period and several new trends, including a record number of pre-construction sales. Here is Fisher’s Annual Market Report…
