MARCH MARKET REPORT
STATISTICS & ANALYSIS
MONTH VS. MONTH SALES AS OF MARCH 31, 2025
YEAR-TO-DATE SALES AS OF MARCH 31, 2025
March is usually one of the quietest months on the island for real estate transactions, however, this March was successful for the island’s market. Total dollar volume soared to $47.5 million - a 45% jump from March 2024. Transactions surged as well, climbing from 9 last March to 15 this month, marking a 66.7% increase. The momentum isn’t slowing down either - year-to-date for 2025, total dollar volume has hit $258.1 million, up 12.7% from the $229 million recorded by this time last year. Transactions are also green for 2025, up 52.3% from the prior year. All signs point to an active season ahead.
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MARCH MARKET REPORT
ALL SALES AS OF MARCH 31
HOUSE SALES AS OF MARCH 31
LAND SALES AS OF MARCH 31
TRENDS & TRANSACTIONS
Pricing listings appropriately has proven to be as important as ever. In March, every listed sale closed below the initial asking price. Over the last 12 months, Nantucket has seen 282 listed properties sold, of these:
• 133 properties sold within 60 days of being listed, achieving an average of 96% of the asking price.
• 57 properties sold between 60 and 120 days, closing at an average of 89% of the asking price.
• 92 properties remained on the market for over 120 days, ultimately selling for an average of 83% of the asking price.
This pattern underscores a key takeaway: the longer a home lingers on the market, the more leverage buyers have in negotiations, leading to significant price reductions. For many sellers, the temptation to list at an aspirational price is strong, particularly in a high-demand market like Nantucket. However, the data indicates that overpricing often results in extended market times and, ultimately, a lower final sale price. Buyers in today’s market are well-informed and have access to extensive historical data, allowing them to recognize overpriced listings and wait for price reductions rather than engaging in bidding wars. If you’re considering selling your Nantucket property, taking a data-driven approach can make all the difference.
*Market data and analysis provided by GPP agent Ethan Ulmer*
FEATURED LISTING | 11 MILK STREET, $3,975,000
THE CURRENT MARKET AT A GLANCE
$6.1M
AVERAGE ASKING PRICE OF AVAILABLE HOMES
146
AVERAGE DAYS ON MARKET OF AVAILABLE PROPERTIES
77 AVERAGE DAYS ON MARKET OF PENDING PROPERTIES
146 AVAILABLE PROPERTIES
33 NUMBER OF PENDING SALES
