SEPT 20
NANTUCKET REAL ESTATE Market Insights BY JEN ALLEN
MONTHLY SALES HIGHLIGHTS
HIGHEST SALE
$21,000,000
5 SHERBURNE WAY MARKETED FOR [272 Days]
As with many rural markets, Nantucket real estate is shattering historic sales records and is poised to set its highest annual sales volume in history. Monthly real estate sales in September were the highest ever recorded for any month, surpassing the previous monthly sales record (October 2018) by a whopping 63 percent. The $355 million in monthly sales through 113 transactions is more typical of what the island sees on a very healthy quarterly basis, but never before in just a single month. Third quarter sales volume totaled $655 million, bringing the market just shy of the $1 billion mark, after removing non-market rate transactions and foreclosures. The robust dollar volume can be attributed to a significant growth in high-end sales activity and an overall rise in buyer demand. Marketing times were at record lows, median home values set record highs, and property inventory continued to be limited. Here are Fisher’s September Market Insights…
$1,350,000
$2,800,000
11 ATLANTIC AVENUE MARKETED FOR [4 Days]
77 SQUAM ROAD MARKETED FOR [1,026 Days]
KEY MARKET STATISTICS ALL PROPERTY TYPES
FY 2020
Transactions
FY 2019
% CHANGE YOY
5-YEAR AVG.
337
281
20% d
314
$978,734
$651,757
50% d
$737,686
6.5
6
8% d
6.7
94%
93%
1d
94%
325
477
-32% f
417
Months Supply of Inventory
8.1
13.6
-40% f
9.0
New Contracts (Sept)
121
49
147% d
66
Dollar Volume ($in 000s) Avg. Months on Market Sale Price to Last Ask Price Active Listings (Sept)
NANTUCKET REAL ESTATE ACTIVITY THROUGH SEPT 2011–20
# of Transactions
© 2 0 2 0 F I S H E R R E A L E S TAT E
REVIEW
LONGEST SALE
Dollar Volume
FISHER’S
QUICKEST SALE
Dollar Volume per Quarter
Q1
Q2
Q3YTD
# of Transactions
(508) 228–4407 21 MAIN STREET, NANTUCKET, MASSACHUSETTS
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