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November 2020 Nantucket Real Estate Market Insights


Market Insights

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Though November real estate sales cooled from the monstrous volume posted in September and October, monthly transactions still rallied high enough to set another new record. November transactions included 82 property transfers totaling $216 million, a volume not ever witnessed before in November.  These sales boosted cumulative figures through November 30, 2020 to 527 transactions totaling $1.55 billion, a respective 40 percent and 72 percent increase from one year ago. Single-family home transactions were numerous and included a higher percentage of lower price point sales than during previous months.  Commercial activity also perked up during the month, while overall inventory and projected marketing times declined.  New contract activity was lighter than in previous months but was still well ahead of what the market would normally see this time of year, and preliminary December volume suggests the 2020 market will surpass $1.7 billion.   Here are Fisher’s November Market Insights…