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August 2020 Nantucket Real Estate Market Insights


Market Insights

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After trailing 2019 figures for the last eight months, cumulative Nantucket real estate dollar volume rose handsomely above last year’s figures by the end of August 2020. Transaction figures also narrowed its gap but remained off approximately nine percent from the same period one year ago. Monthly activity set an historic August record with 52 transactions totaling $173.5 million. This brought year-to-date sales through August 31, 2020 to 224 transactions totaling $623 million, a respective nine percent rise in dollar volume but nine percent decline in transaction volume from August 31, 2019. Single-family home sales saw higher price point activity than historic norms, which led to a significant rise in the 2020 average home sale value. Additionally, new contract activity set yet another monthly record indicating that the local market is poised to set new annual records. Here are Fisher’s August Market Insights…