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October 2020 Nantucket Real Estate Market Insights


Market Insights

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If you thought Nantucket real estate sales couldn’t get any hotter than last month’s record volume, take a look at October sales. October represented the fourth consecutive month of historic sales volume for the island market, with 108 transactions totaling a whopping $361 million. This represented a respective 104 percent and 162 percent increase from the same period one year ago and the highest dollar volume on record. Cumulatively, for the 10 months ending October 31, 2020, there were 445 property transfers totaling $1.34 billion. This brought the year-over-year increase to 33 percent on a transaction basis and 70 percent on a dollar volume basis. Single-family homes sales hit record numbers with rapid marketing times and minimal discounts. This kept inventory at record lows while contract activity showed just a slight shift in downward momentum. Here are Fisher’s October Market Insights…