November Market Insights - Nantucket Real Estate

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NANTUCKET REAL ESTATE Market Insights BY JEN ALLEN MONTHLY SALES HIGHLIGHTS

RECENT RESALE

HIGHEST SALE

$14,900,000

$6,400,000

88 POCOMO ROAD MARKETED FOR [2,645 Days]

KEY MARKET STATISTICS

REVIEW

ALL PROPERTY TYPES

FY 2021

Transactions

FY 2020

% CHANGE YOY

5-YEAR AVG.

25% d

477

$1,555,929

29% d

$1,284,524

7.2

-39% f

6.2

96%

94%

2d

94%

Active Listings (Nov)

87

282

-69% f

301

Months Supply of Inventory

1.4

5.9

-77% f

9.1

New Contracts (Nov)

36

71

-49% f

46

Dollar Volume ($in 000s)

657

527

$2,014,425 4.4

Avg. Months on Market Sale Price to Last Ask Price

NANTUCKET REAL ESTATE ACTIVITY THROUGH NOVEMBER 2011–21

# of Transactions

Although November real estate sales declined significantly from the record 2021 monthly figures set in October, activity was still mighty impressive. November transactions included 67 property transfers totaling $211 million, just shy of the record November volume posted in 2020. These sales buoyed cumulative figures through November 30, 2021 to 657 transactions totaling $2.01 billion, a respective 25 percent and 29 percent increase from one year ago. Single-family home transactions continued to see recordlow marketing times but also recordlow inventory. Commercial activity not only posted a monstrous turnaround from one year ago but is poised to set a historic record in transaction and dollar volume. New contract activity continued its downward trend in an ever-dwindling property inventory environment but is still poised to surpass $2.3 billion. Here are Fisher’s November Market Insights...

$6,100,000

2 NORTH STAR LANE SOLD FOR $4.275M IN 2018

Dollar Volume

NOV 21

34 EASTON STREET MARKETED FOR [33 Days]

FISHER’S

LONGEST SALE

Dollar Volume per Quarter

Q1

Q2

Q3

Q4 YTD

# of Transactions

© 2 0 2 1 F I S H E R R E A L E S TAT E

(508) 228–4407 21 MAIN STREET, NANTUCKET, MASSACHUSETTS

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