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A U T U M N Summer on Nantucket was surely different this year and, for the most part, was marked by cautious and responsible behavior on the part of locals and visitors alike which kept the number of COVID-19 cases to a minimum. After Labor Day, the island usually slows down quite noticeably, but this has not been the case this year. Many visitors who were unable to come in late spring and early summer had moved their rentals to the fall. In addition, a lot of people have decided to either use their homes through the fall or to rent for longer periods of time until in-person school begins again in their community. All of which is good for the island economy after a shaky start to the season, especially for the restaurants which are still able to have outside dining. In a “normal” year, it is not unusual for the Nantucket real estate market to exceed $1 billion in sales by the end of December. It happened in 2017, 2018 and 2019. This year it happened before the end of September. We are on track to have the best year ever with total sales dollars in excess of $1.5 billion. The market is largely being driven by the phenomenon we call, “heading for the hills”, and it is not unique to Nantucket. People are buying quickly in places that are perceived to be safe and that offer the opportunity to enjoy outdoor spaces. The market acceleration this year was not predictable and surprised even the most seasoned brokers. The average selling price of a property on Nantucket is $2,868,000, an increase of 32% over last year. The average selling price of a residential property is $3,307,000 (+33%) and the median is $2,450,000 (+47%). Vacant land is selling, on average, for $1,558,000 (+7%) and the median lot is now $950,000 (-3%). Continued on Page 2...