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We are thankful: to be on Nantucket all year long and have a front row seat to her changing seasons, for our agents and for the success of our business over the past 10 years. But, most of all, we are thankful to live in such a special place and to be able to actively participate in our community. After a whirlwind 2014, we are looking forward to what 2015 brings. And we are ready! Only twice in history has the real estate market on Nantucket exceeded $1 billion in property sales (in 2004 and 2005). Sales in 2014 were just over $1 billion, including foreclosure sales (of $11 million), an increase of a whopping 25% over 2013. The total number of sales was 528, compared to 468 in 2013, an increase of 11%. More importantly, the market is on more solid footing than it has been since the beginning of the recession. Properties are selling more rapidly, distressed sales now constitute a negligible portion of the total market and people are more confident about the economy in general. No wonder, given that the labor and housing markets have largely recovered, all 8.7 million jobs lost during the recession have been regained over the past 4 years and the majority of the country has seen growth in personal income. Interest rates remain low and the financial markets have been on an uninterrupted bull run for more than 1,100 days without a pullback as of the end of 2014. Add this to the fact that Nantucket is a rarefied market and it is easier to understand how we have rebounded from the recession. The average selling price of all properties (residential, land and commercial) on Nantucket was $1,915,000 by year end, an increase of 19.80% over 2013. The average selling price for residential property topped $2 million for the first time since 2008; the median price was $1,275,000, up 27.56%. Vacant land was selling, on average, for $1,291,000 and the median price was $780,000, an increase of 13.45%. There were 19 sales of commercial property in 2014 for just over $40 million, compared to $14.4 million in 2013. The robust real estate activity in the commercial sector is a very strong indicator of rising consumer confidence. Commercial rentals have become very difficult to find, especially Continued on page 2... downtown.