FEB 16
NANTUCKET REAL ESTATE Market Insights
BY JEN SHALLEY
MONTHLY SALES HIGHLIGHTS
HIGHEST SALE
QUICKEST SALE
$3,450,000
NOTABLE NEW LISTING
$1,950,000
2 KING’S WAY MARKETED FOR [2.3 Months]
$6,950,000
39B MILK STREET MARKETED FOR [3 days]
FISHER’S
1 CLIFF LANE 5BR/5+BA .46 ACRES
KEY MARKET STATISTICS ALL PROPERTIES
REVIEW
YTD FEB 2016
Transactions Dollar Volume ($ in ‘000’s)
Nantucket real estate saw a
Avg Months on Market
promising start to 2016 with a
Sales Price to Last Ask Price
16 percent year-over-year rise
Active Listings
in transaction activity through
Months Supply of Inventory
February 29, 2016. Dollar volume
Recorded Contracts
YTD FEB 2015
% CHANGE YOY
72
62
16% d
$122,278
$125,111
–2% f
9
8
1d
94%
93%
1d
297
274
8% d
7
6
1d
79
53
33% d
was down a modest two percent due to an increase in the number
NANTUCKET REAL ESTATE SALES ACTIVITY
of lower price point transactions
HISTORICAL ANALYSIS JANUARY & FEBRUARY
($1MM-$2MM) and a simultaneous decrease in higher end price points (both the $2MM-$3MM and $4MM-
©2016 FISHER REAL ESTATE
140
100
$120,000 $100,000
80
$80,000
60
contract activity — a data point
$60,000
which indicates there will continue
$40,000
to be strong transaction activity
$20,000
into the second quarter.
120
$140,000 in $000’s
year was the 33 percent rise in new
$180,000
0 Years
40 20 0 00
01
02
03
04
05
SALES VOLUME ($)
(508) 228–4407
06
07
08
09
10
11
12
13
14
15
16
NUMBER OF TRANSACTIONS
21 MAIN STREET, NANTUCKET, MASSACHUSETTS
1
# of Transactions
during the first two months of the
160
$160,000
$5MM saw declines). A notable and encouraging development
$200,000
F E B 16
NANTUCKET REAL ESTATE
Market Insights BY JEN SHALLEY
NOTABLE SALES TRENDS
CONTRACT ACTIVITY
’SCONSET SALES ACTIVITY
VIEW LARGE CHART
VIBRANT START TO 2016
•
New contract activity in January and February 2016 surpassed 2015 results by a respective 19 percent and 50 percent
•
The average last listing price for these new contracts, $1.84 million, was nearly identical to one year ago
VIEW LARGE CHART
CURRENT MOMENTUM VS. 2015
•
One trend of note was a rise in early sales activity in ‘Sconset, particularly compared to full-year 2015 results
•
YTD total dollar volume for ‘Sconset area sales and contracts measured nearly half of full-year 2015 results (see Fisher blog on “The Domino Effect”)
SALES DATA & MARKETING TIMES
SF HOME SALES BY PRICE POINT
SINGLE-FAMILY HOMES
THROUGH FEBRUARY 29, 2016
PROJECTED MARKETING TIMES BY PRICE POINT
©2016 FISHER REAL ESTATE
VIEW LARGE CHART
VIEW LARGE CHART
•
While overall transaction volume increased, yearover-year dollar volume declined just slightly given an increased concentration in lower price point sales compared to 2015
•
Based on trailing 12-month sales and current inventory, the $8MM-$9MM price point is expected to take nearly twice as long to sell as homes priced between $6MM$7MM
•
Home sales in the $1MM to $2MM price point increased 9 percentage points while sales in the $2MM to $3MM price point declined 5 percentage points
•
Homes listed for less than $1MM are now expected to sell within two months, compared to a projected 4 months at the end of 2015
(508) 228–4407
21 MAIN STREET, NANTUCKET, MASSACHUSETTS
2
F EB R UA RY 16
NANTUCKET REAL ESTATE
Market Insights BY JEN SHALLEY
NOTABLE SALES TRENDS CLOSE
CONTRACT ACTIVITY VIBRANT START TO 2016
•
New contract activity in January and February 2016 surpassed 2015 results by a respective 19 percent and 50 percent
•
The average last listing price for these new contracts, $1.84 million, was nearly identical to one year ago
(508) 228–4407
21 MAIN STREET, NANTUCKET, MASSACHUSETTS
3
F EB R UA RY 16
NANTUCKET REAL ESTATE
Market Insights BY JEN SHALLEY
NOTABLE SALES TRENDS
’SCONSET SALES ACTIVITY
CLOSE
CURRENT MOMENTUM VS. 2015
•
One trend of note was a rise in early sales activity in ’Sconset, particularly compared to full-year 2015 results
•
YTD total dollar volume for ’Sconset area sales and contracts measured nearly half of full-year 2015 results (see Fisher blog on “The Domino Effect”)
(508) 228–4407
21 MAIN STREET, NANTUCKET, MASSACHUSETTS
4
F EB R UA RY 16
NANTUCKET REAL ESTATE
Market Insights BY JEN SHALLEY
NOTABLE SALES TRENDS
SF HOME SALES BY PRICE POINT
CLOSE
THROUGH FEBRUARY 29, 2016
•
While overall transaction volume increased, yearover-year dollar volume declined just slightly given an increased concentration in lower price point sales compared to 2015
•
Home sales in the $1MM to $2MM price point increased 9 percentage points while sales in the $2MM to $3MM price point declined 5 percentage points
(508) 228–4407
21 MAIN STREET, NANTUCKET, MASSACHUSETTS
5
F EB R UA RY 16
NANTUCKET REAL ESTATE
Market Insights BY JEN SHALLEY
NOTABLE SALES TRENDS
SINGLE-FAMILY HOMES
CLOSE
PROJECTED MARKETING TIMES BY PRICE POINT
•
Based on trailing 12-month sales and current inventory, the $8MM-$9MM price point is expected to take nearly twice as long to sell as homes priced between $6MM-$7MM
•
Homes listed for less than $1MM are now expected to sell within two months, compared to a projected four months at the end of 2015
(508) 228–4407
21 MAIN STREET, NANTUCKET, MASSACHUSETTS
6