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We are especially excited to welcome spring this year after one of the longest, snowiest and stormiest, winters in memory. Winter is finally releasing its grip on Nantucket with longer days, actual warmth from the sun (when it is out) and signs of daffodils and forsythia coming into bloom. Nantucket seemed even quieter this past winter than usual, possibly due to the weather making travel both on and off island more challenging than ever. We are looking forward to seeing old friends, and new, for the Daffodil Festival, the last weekend in April. Fingers crossed for some sun! The real estate market on Nantucket continues a steady recovery with the average selling price of all properties on the island now at $1,755,000, compared to $1,532,000 at the height of the recession. The price of an average house on Nantucket is now $2,210,000, the highest it has been since 2008. The average lot is now $944,000. 1st Q Report: There were 89 sales for a total of $156 million in the first quarter of 2015. Activity was slightly off from 2014, likely due to the weather which prevented people from reaching the island. We are confident that 2015 will again be a strong year for real estate on Nantucket, a good thing, in that it impacts so many sectors of our local economy. Breaking Down the Market: In 2014 more than 25% of the total sales dollars were for properties selling for $5 million or more. These 35 sales constituted only 6% of total market share volume. To date in 2015 there have been 7 sales over $1 million, constituting 8% of the market. There were 44 residential sales under $500,000 in 2014; to date in 2015 there have been only 6, with an average listing time of 80 days. The most active price sector so far this year is under $1 million with 48 properties selling between $250,000 (vacant lot in Tom Nevers) and $987,500 (small antique home in Town). The highest price paid for a property on Nantucket so far in 2015 was $10,875,000 for a compound located in Brant Point on Hulbert Avenue, located across the street from the water. Continued on Page 2...