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OCTOBER MARKET REPORT
GREAT POINT PROPERTIES 1
OCTOBER MARKET REPORT FOR THE SEVENTH YEAR IN A ROW, NANTUCKET REAL ESTATE SALES HAVE TOPPED $1 BILLION IN TOTAL SALES. WITH TWO MONTHS REMAINING, GREAT POINT PROPERTIES IS PROJECTING ANNUAL SALES OF NEARLY $1.3 BILLION. October’s sales saw a slight downturn compared to last year. In October 2023, we saw 40 house sales, 2 land sales, and no commercial transactions, totaling $168 million in transactions, nearly $40 million less than the previous year. October 2022 had 44 house sales, 6 vacant lot sales, and no commercial sales. As has been the case all year, sales volume is at the lowest level in a decade. The 216 house sales are the fewest since 2010, when 220 sales had occurred through October 31. Land sales are also at their lowest level since 2010, with just 31 sales. Yet values remain steady, as evidenced by the total dollar volume, and well-priced properties are still selling quickly. The highest end of the market seems to have a life of its own. 68 Monomoy Road, a Workshop/APD-designed and Reid Builders-built waterfront house and cottage sold in September for a record $42 million. The permanent result of the pandemic has been to push values to historic levels in all price segments. Although there may be some small retreat from the froth of the last three years, the market remains healthy.
HOUSE SALES AS OF OCTOBER 31
LAND SALES AS OF OCTOBER 31
COMMERCIAL SALES AS OF OCTOBER 31
GREAT POINT PROPERTIES 2
OCTOBER MARKET REPORT ALL SALES AS OF OCTOBER 31
THE CURRENT MARKET AT A GLANCE
$6.1M AVERAGE ASKING PRICE OF
128
AVERAGE DAYS ON MARKET
22
AVAILABLE HOMES
OF AVAILABLE PROPERTIES
PENDING SALES
77
AVERAGE DAYS ON MARKET
131
OF PENDING PROPERTIES
HOMES FOR SALE
NUMBER OF
SINGLE-FAMILY
GREAT POINT PROPERTIES 3
GPP FEATURED LISTING 3 GOLDFINCH DRIVE | $2,995,000
OCTOBER PHOTO OF THE MONTH
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