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Nantucket Monthly Market Update, March 2022

Stories

Market Insights

Jen Shalley Allen
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“Much like the stock market, we may be in for a bumpy ride, at least in terms of the ebb and flow of 2022 transaction volume.  Preliminary results put first quarter results around $262 million through 86 transactions.  This is a respective 43 percent and 26 percent decline from 2021 and more in line with 2018 figures for dollar volume  (there were 122 transactions in 1Q18).  After a solid January, and then lackluster February sales, March posted a rebound with nearly $100 million in transactions.  The two higher end listings that sold were marketed for 300+ days, while nearly every other sale took place at a much faster pace, less than six months and often in under a week. While inventory remained exceptionally low with 70 properties by month’s end, 30 new properties came to market during March.  This is in line with new inventory levels for every previous March dating back to 2017.  This may be a silver lining for buyers in that new inventory isn’t also declining.  More to come in our full monthly write-up. ” Jennifer Shalley Allen

 
New Listings
$849,995 40 1/2 Essex Road
$940,000 5B Pine Tree Road
$1,200,000 76 Center Street A
$1,550,000 7 Point Judith Lane
$1,595,000 15 Netowa Lane
$1,695,000 24 Lovers Lane
$1,695,000 35 Essex Road A
$1,795,000 4 Mamack Lane # 4
$1,853,000 1B Old North Wharf
$1,875,000 21 Essex Road
$2,250,000 6 Spinnaker Circle
$2,295,000 1R Old North Wharf
$2,595,000 42 Ridge Lane
$2,800,000 68 Nobadeer Avenue
$2,870,000 39 Union Street
$2,895,000 22 York Street
$2,995,000 22 Hawthorne Lane
$3,250,000 36 Cliff Road
$3,250,000 9 Lily Street
$3,695,000 9 Cachalot Lane
$3,875,000 36 Long Pond Drive
$3,995,000 51W Weweeder Avenue
$3,995,000 35 Brewster Road
$4,099,000 23 Madaket Road
$4,495,000 14 New Lane
$4,649,000 4 Hydrangea Lane
$4,695,000 5 Coffin Street
$5,250,000 18 Meadow Lane
$11,900,000 104 Baxter Road
$11,900,000 14 and 16 Coffin Street
   
Under Agreement
$400,000 63 Cato Lane
$1,200,000 76 Center Street A
$1,595,000 15 Netowa Lane
$1,695,000 38 Chuck Hollow Road
$1,695,000 1 Lilac Court
$1,745,000 5 Surfside Road
$1,795,000 49 Union Street
$1,795,000 7 Dooley Court
$1,875,000 21 Essex Road
$1,995,000 9 Hinsdale Road
$1,995,000 7 Pond Road
$2,100,000 102 Old South Road
$2,200,000 5 Miacomet Avenue
$2,215,000 91 Hummock Pond Road
$2,795,000 73 Vestal Street
$2,800,000 68 Nobadeer Avenue
$3,090,000 55 Nobadeer Avenue 
$3,095,000 39 Meadow View Drive
$3,295,000 2 Nautilus Lane
$3,595,000 12 A Gray Avenue
$3,795,000 6 Seven Mile Lane
$4,500,000 30 India Street
$4,995,000 22 Sherburne Turnpike
$5,250,000 9 Willard Street
$5,900,000 7 Lauretta Lane
$8,355,000 8 Maxey Pond Road
$14,000,000 78 Pocomo Road
   
Price Changes
$1,695,000 49 Union Street
$1,975,000 4 Lilac Court
$2,500,000 308 Madaket Road
$10,950,000 46 Madequecham Valley
   
Sold Listings
$695,000 45 Beach Grass Road A
$705,000 45 Beach Grass Road B
$775,000 8 Marble Way
$799,000 2 Anna Drive #5
$850,000 5 Rose Bud Lane
$1,235,000 76 Center Street A
$1,300,000 10 Mary Ann Drive
$1,306,999 40 Old South Road
$1,400,000 84 Old South Road
$1,400,000 4 Gingy Lane
$1,405,000 11 Cedar Circle
$1,800,000 15 Old Tom Nevers 
$1,850,000 2 Sea Fox Circle
$1,850,000 39 Beach Grass Road
$1,850,000 41 Beach Grass Road
$2,050,000 98 Baxter Road
$2,065,000 3 Spring Street
$2,100,000 71 Washington Street
$2,100,000 38 Chuck Hollow Road
$2,750,000 12 & 12 R Bartlett Road
$2,800,000 68 Nobadeer Avenue
$2,895,000 13 Midland Avenue
$3,050,000 78 Easton Street
$3,250,000 15 Lauretta Lane
$3,510,000 16 Aurora Way
$3,565,000 12 A Gray Avenue
$3,695,000 6 Seven Mile Lane
$3,700,000 5 Beaver Street
$4,100,000 22 Sherburne Turnpike
$4,100,000 1 Old Quidnet Milk Route
$4,750,000 31 Low Beach Road
$4,800,000 70 Washington Street
$5,350,000 11 Mill Hill Lane
$9,850,000 1 Twin Street
$10,250,000 2-6 Highland Avenue

Written By

Jen Shalley Allen

Jen has worked on an impressive array of real estate transactions including two of the island’s largest and most complex vacant land transfers, commercial transactions, and single-family home sales,