IMPORTANT ZONING CHANGE! Without any discussion, Town Meeting unanimously passed Article 47 changing the ground coverage permitted in the Residential Old Historic District (ROH) from 50% to 40%. What this means is that a conforming lot of 5,000 square feet that would have been permitted 2,500 square feet of ground coverage in the past is now limited to 2,000 square feet. It remains 50% in the ‘Sconset Old Historic District at this time. The ROH District is primarily located in the downtown of Nantucket.
Invasive Plant Species
Meet Jack Cooper
Of all the plant species on Nantucket Island, over 32% are not native to the island and about 10% are invasive. An invasive plant is not native to the area and has a negative economic, human health or ecological impact. Studies have shown that tick (small bloodsucking parasites) density is 3 times greater among invasive plant populations. Early detection and eradication are important. Nantucket even has its own committee for this! To get a list of invasive plants, learn how to properly remove them or join the team in a removal event check out this website: https://www.nantucketbiodiversity.org
Meet Ken Beaugrand's dog: Jack Cooper, a 13 year old Norwich Terrier. This little “devil” dog was born on 6/6/06! Far from being a mischievous sprite, Jack is very independent, loyal, affectionate and always greets Ken with unadulterated love when he returns home. Jack is photographed here on his spring break to Vero Beach.
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Nantucket: Average Months on Market All Properties As of Q1 2019 12
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Get a Permit!
Average Months on Market
Re-shingling or re-roofing your house? The Town has made the permitting process for this very easy. Get a permit! Doing electrical or plumbing work, finishing the basement into living space? Get a permit! All of these upgrades and improvements are money in your pocket when selling your home and might not be if the permit does not exist. The missing, or incomplete. building permit can delay the sale of your property and in some instances can negate the sale. You can also be personally accountable for work done without the required permits. To rectify the problem you will have an unplanned expense that can cost more, especially if it needs to be done quickly. It is a good idea to also check any existing permits to make sure they have been signed off and completed. N a n tu c ke t: H o m e P ric e s
2003
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2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
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2018
9
7
7
7
8
11
9.75
10
10
11
10
9
8
9
8
9
The Smallest piece of land for sale If you love Nantucket, you can remain here forever. The historic Polpis Cemetery, located on the Polpis Road, dates back to the 1600s and has recently undergone extensive surveying and mapping to allow for additional burial sites. The plots available are 4' x 6' and are for cremains only (no pets please!), and each plot holds up to 4 people. No upright headstones are allowed, only those flush to the ground, to keep the natural aesthetics of this notable historic area. The sites even include perpetual care! The cost is $900 at this time. If you would like more information, please contact our office and we will put you in touch with the person in charge.
N A N T U C K E T
S P R I N G Spring, spring, spring - it is a most lovely, although fleeting, time of the year on Nantucket! Forsythia and daffodils are in full bloom and we anticipate the return of many visitors and friends for the 45th Annual Daffodil Festival on April 26-28th. It is great fun so see the occasional Model A or Rolls Royce Phaeton touring around the island getting ready for the antique car parade. Be sure to head out to ‘Sconset for the tailgate picnic and strolling following the parade. Do not miss the Daffodil Show, the event that started it all. Folks have had all winter to prepare, and the weekend is a feast of creativity for the senses, especially after a long, gray winter!
As of Q 1 2019
Atlantic East
2615 2 5 00
A v g H o m e ($ O O O )
2378
2373 2276
2271
M ed i an H o m e ($ O O O )
2164
1945
2 0 00
1970
1933
1672
1666 1550
Penny Dey, GRI, ABRM and Heidi Drew, ABR, RSPS, SRS, Broker/Owners
1750
1726 1600
1528
1495
1 5 00
N A N T U C K E T R E A L E S TAT E
2133
2124
2103
1525
1425
1525 1459
1400
1297 1150
1 0 00
1190 1100 1013
970
917
1050
999
Ken Beaugrand; Linda Bellevue, GRI, CBR; Peter DuPont; Alison K. Forsgren, ePro, NAR Green, SRES Mary D. Malavase, ABR, RSPS, TRC, SFR, SRS; Jane Miller, ABR, RSPS; Erikka Perkins, Rental Manager; Meg Ruley, ABR, RSPS Lisa Sherburne, ABR, RSPS; John F. Trudel III, SFR; Melinda Vallett; Christine Whelden, ABR; Geri Walker, Office Manager
We believe in doing one thing and in doing it well. 82 Easton Street Nantucket MA 02554 508.228.7707
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The numbers are in for Q1 and something interesting is happening. The total number of sales (91), compared to one year ago is down 35%; the dollars represented by those sales ($151,934,000) are down 49%. There are likely a number of factors at play here including the robust performance of the stock market, aggressive pricing by sellers who are relaxed about when they sell, uncertainty about the future and the fact that no one has to buy on Nantucket given that it is a discretionary purchase.
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Volume XV, Issue 2, Spring 2019
We should remember that 2018 was an exceptional year for real estate on Nantucket with the largest number of sales over $10 million ever. The average sale to date this year (all properties) on Nantucket is $1,670,000, down from last year’s high of $2,214,000. To date in 2019 the average home price on Nantucket is $1,933,000, down 26% from 2018, but down only 14% if averaged over the past five years. The median price of a home is $1,459,000. The average price of a lot is now $916,000, down 48% from 2018, but down only 16% averaged over the past five years. Of the 91 sales in Q1, there were 9 commercial sales (quite high), 16 sales of vacant land and 66 sales of residential properties. In spite of the numbers, we remain cautiously optimistic about 2019 overall. Continued on Page 2...