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, over the last few years, annual sales volume have ranged from $1.5-$2 billion through 400-700 transactions. Single-family home sales range from $400,000 to $37 million+, with the average sale price around $3 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…
Prior to 2021, the record for the highest residential property sale – the $27.5 million sale of 11 & 15 Cathcart Road – stood for 10 years. From that 2010 sale through 2019, there were seven mega-high-end transactions (excluding land) above $20 million but none that hit or surpassed that high-water mark. However, between 2020 and 2022, there were 10 transactions above $20 million, four of which were sales between $30 and $37.6 million, with the latter setting a new residential record. Never has the market seen so much activity in this sliver of the market. And it wasn’t just the mega-high-end segment that boasted tremendous volume compared to historical norms.
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After an unprecedented period for Nantucket real estate, the 2022 market showed signs of a return to normalcy, at least in transaction volume. While still a remarkable year as measured against all pre-pandemic figures, 2022 sales and dollar volume metrics declined significantly from the two previous years.
Interestingly, the total number of transactions was nearly identical to 2019, but 2022 dollar volume was 64 percent higher than it was just three years earlier, prior to the ‘pandemic peak’. It was also the first time the median home sale value surpassed $3 million.
Here is Fisher’s Annual Market Report…
