October 2020 Nantucket Real Estate Market Insights

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OCT 20

NANTUCKET REAL ESTATE Market Insights BY JEN ALLEN

MONTHLY SALES HIGHLIGHTS

HIGHEST COMMERCIAL SALE

HIGHEST RESIDENTIAL SALE

$20,000,000

$3,550,000

45 CLIFF ROAD MARKETED FOR [41 Days]

FISHER’S REVIEW

If you thought Nantucket real estate sales couldn’t get any hotter than last

HIGHEST LAND SALE

$11,000,000

31 WESTERN AVENUE MARKETED FOR [47 Days]

44 BREWSTER & 4-6 HARBORVIEW

[Private Sale]

KEY MARKET STATISTICS ALL PROPERTY TYPES

FY 2020

Transactions Dollar Volume ($in 000s)

FY 2019

% CHANGE YOY

5-YEAR AVG.

445

334

33% d

379

$1,340,126

$651,757

106% d

$927,560

6.6

5.7

16% d

6.6

Avg. Months on Market Sale Price to Last Ask Price

94%

94%

0

94%

October sales. October represented the

Active Listings (Oct)

281

436

-36% f

377

fourth consecutive month of historic

Months Supply of Inventory

6.3

12.6

-50% f

11.0

sales volume for the island market, with

New Contracts (Oct)

112

56

100% d

62

month’s record volume, take a look at

108 transactions totaling a whopping $361 million. This represented a respective 104 percent and 162 percent increase from the same period one year

NANTUCKET REAL ESTATE ACTIVITY THROUGH OCT 2011–20

ago and the highest dollar volume on record. Cumulatively, for the 10 months ending October 31, 2020, there were 445 property transfers totaling $1.34

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

basis and 70 percent on a dollar volume basis. Single-family homes sales hit

Dollar Volume

increase to 33 percent on a transaction

# of Transactions

billion. This brought the year-over-year

record numbers with rapid marketing times and minimal discounts. This kept inventory at record lows while contract activity showed just a slight shift in downward momentum. Here are Fisher’s October Market Insights...

Dollar Volume per Quarter

Q1

Q2

Q3

Q4YTD

# of Transactions

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

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