LEE REAL ESTATE
YEAR IN REVIEW • 2020
WHAT A YEAR
2020 brought us a global pandemic, a new found appreciation for teachers as we homeschooled our children, a turblulent political climate, and a global reality check. Those of us who spent any time on the island this year were the lucky ones. We practiced social distancing - being 30 miles out to sea helps with that. We slowed down the frentic island summers we are used to and reconnected with the island that we call home. We logged some beach days, and found pleasure in the simple things like books and board games.
When we were facing the mountain of uncertainty of what our summer would look like in April, none of us expected the monumental year we ended up having. The island’s total real estate sales for 2020 reached almost $2 billion, shattering the previous records set. We broke down the record setting year in the pages that follow.
Pandemic or no pandemic, our team is dedicated to our clients and our community. We strive to be your go-to source for all things Nantucket, whether that is finding your dream home, securing you the perfect summer rental, selling your family home, or even just suggesting a spot for dinner. We are all navigating these unique times together and we cannot wait to welcome family, friends, and clients back to the island in 2021.
Sincerly,
Jeff Lee, President
2020 YEAR IN REVIEW Highest Home Sale
Golf Courses on the Island
Number of Town of Nantucket Lifeguards
4
50
34 Washing Pond Road $25,000,000
Total Amount Awarded
$1M
Number of real estate transactions in 2020
Number of Slips at Nantucket Boat Basin
667
to Emergency Relief by Nantukcet Community Foundation
Compared to 423 in 2019
240
Biggest Discount
Total Length of Winning Fish of In-Shore Classic
Top 10 States Buyers Come From
122.5’’ 16 Eat Fire Spring Road 47%
Caught by Chris Connollly in all-tackle category
Conservation Land on Island
Most Days on Market
over 29% of island’s total acreage
Massachusetts Connecticut New York Florida New Jersey California Pennsylvania Maryland Illinois Texas
Number of scallop licenses issued
593 8 Parson Lane 4,927
NANTUCKET REAL ESTATE IN 2020 120
Closings
Reductions
Offers
100 80 60 40
2019 VS. 2020 2019
2020
% Change
Total Properties Sold
423
667
+58%
Total Sales Volume
$960,337,147
$1,889,857,980
+1868%
Average Sale Price
$2,275,680
$2,833,370
+25%
Median Sale Price
$1,575,157
$2,000,000
+27%
Average Sale to Original Ask
86.79%
88.2%
+1.6%
Average Sale to Last Ask
92.81%
94%
+1.3%
Average Days on Market
426
470
+10.3%
DECEMBER
NOVEMBER
OCTOBER
SEPTEMBER
AUGUST
JULY
JUNE
MAY
APRIL
MARCH
FEBRUARY
0
JANUARY
20
INVENTORY VS. DEMAND January Inventory
February
Sales
March April May June July August September October November December 05
0
100
150
200
250
300
350
400
SALES BY PRICE POINT 130
Less than $1M
331
$1M to $3M
146
$3M to $6M
44
$6M to $10M
16
$10M +
SALES BY AREA
MOST POPULAR AREA
LEAST POPULAR AREA
TOWN & BRANT POINT
POLPIS
MOST EXPENSIVE AREA
LEAST EXPENSIVE AREA
MONOMOY, SHIMMO & SHAWKEMO
MID ISLAND
TOWN & BRANT POINT Highest Home Sale
Most Days on Market
Biggest Discount
22 & 24 Easton Street $15,750,000
10 Candle House Lane 3,196
11 Pleasant Street 49.12%
Number of transactions in Town & Brant Point in 2020
Avg. Days on Market in Town & Brant Point in 2020
Avg. Sale Price in Town & Brant Point in 2020
175
461
$2.9M
AT A GLANCE
BY PRICE POINT
BY TYPE Single Family
Less than $1M
Multi-Family
$1M to $2M
Land
$2M to $4M
Condo
$4M +
Commercial
03
06
09
0
120
150
2019 VS. 2020 2019
2020
% Change
Residential
85
155
+82.4%
Commercial
16
9
-43.75%
Land
7
11
57%
CLIFF & DIONIS Highest Home Sale
Most Days on Market
Biggest Discount
34 Washing Pond Road $25,000,000
16 Lincoln Avenue 1,582
218 Cliff Road 50%
Number of transactions in Cliff & Dionis in 2020
Avg. Days on Market in Cliff & Dionis in 2020
Avg. Sale Price in Cliff & Dionis in 2020
57
379
$5.9M
AT A GLANCE
BY PRICE POINT
BY TYPE
Less than $1M
Single Family
$1M to $2M
Land
$2M to $4M
Condo
$4M +
01
02
03
04
05
06
2019 VS. 2020 2019
2020
% Change
Residential
29
51
+75.9%
Commercial
0
0
0%
Land
6
6
0%
MONOMOY, SHIMMO & SHAWKEMO Highest Home Sale
Most Days on Market
Biggest Discount
56 Monomoy Road $16,500,000
3 Wingspread Lane 1,953
10 Monomoy Road 65.8%
Number of transactions in Monomoy, Shimmo & Shawkemo in 2020
Avg. Days on Market in Monomoy, Shimmo & Shawkemo in 2020
22
690
Avg. Sale Price in Monomoy, Shimmo & Shawkemo in 2020
AT A GLANCE
BY PRICE POINT
$6.4M BY TYPE
Less than $1M
Single Family
$1M to $2M
Land
$2M to $4M $4M +
05
10
15
2019 VS. 2020 2019
2020
% Change
Residential
12
19
+58.3%
Commercial
0
0
0%
Land
1
3
200%
20
MADAKET Highest Home Sale
Most Days on Market
Biggest Discount
49 Warren’s Landing Road $3,950,000
45 Sheep Pond Road 2,901
14 & 16 Sheep Pond Road 67.7%
Number of transactions in Madaket in 2020
Avg. Days on Market in Madaket in 2020
Avg. Sale Price in Madaket in 2020
28
643
$1.5M
AT A GLANCE
BY PRICE POINT
BY TYPE
Less than $1M
Single Family
$1M to $2M
Multi-Family
$2M to $4M
Land $4M +
05
10
15
20
25
2019 VS. 2020 2019
2020
% Change
Residential
20
27
+35%
Commercial
0
0
0%
Land
2
1
-50%
30
CISCO & MIACOMET Highest Home Sale
Most Days on Market
Biggest Discount
5 Pond View Drive $8,130,000
21 Bartlett Road 1,823
11 Davis Lane 67.7%
Number of transactions in Cisco & Miacomet in 2020
Avg. Days on Market in Cisco & Miacomet in 2020
Avg. Sale Price in Cisco & Miacomet in 2020
71
391
$2.1M
AT A GLANCE
BY PRICE POINT
BY TYPE
Less than $1M
Single Family
$1M to $2M
Multi-Family
$2M to $4M
Land
$4M +
01
02
03
04
05
06
2019 VS. 2020 2019
2020
% Change
Residential
30
60
+100%
Commercial
0
0
0%
Land
5
11
+120%
SURFSIDE Highest Home Sale
Most Days on Market
Biggest Discount
1 Pochick Avenue $8,250,000
14 Poplar Street 3,434
12 Pequot Street 58%
Number of transactions in Surfside in 2020
Avg. Days on Market in Surfside in 2020
Avg. Sale Price in Surfside in 2020
51
423
$2.4M
AT A GLANCE
BY PRICE POINT
BY TYPE Single Family
Less than $1M
Multi-Family
$1M to $2M $2M to $4M
Land
$4M +
Commercial
2019 VS. 2020
05
10
15
20
25
30
35
2019
2020
% Change
Residential
47
43
-8.5%
Commercial
0
1
+100%
Land
8
4
-50%
40
MID ISLAND Highest Home Sale
Most Days on Market
Highest Commercial Sale
7 & 9 Tetawkimmo Drive $2,650,000
17 Tetawkimmo Drive 2,669
13 Arrowhead Drive $4,400,000
Number of transactions in Mid Island in 2020
Avg. Days on Market in Mid Island in 2020
Avg. Sale Price in Mid Island in 2020
107
287
$1.0M
AT A GLANCE
BY PRICE POINT
BY TYPE
Less than $1M
Single Family
$1M to $2M
Commercial
$2M to $4M
Land
$4M +
2019 VS. 2020
01
02
03
04
05
06
07
2019
2020
% Change
Residential
60
76
+26.7%
Commercial
3
6
+100%
Land
10
16
+60%
08
TOM NEVERS Highest Home Sale
Most Days on Market
Biggest Discount
98 Tom Nevers Road $7,500,000
8 Parson Lane 4,927
11 Jonathan Way 62.16%
Number of transactions in Tom Nevers in 2020
Avg. Days on Market in Tom Nevers in 2020
Avg. Sale Price in Tom Nevers in 2020
32
551
$2.2M
AT A GLANCE
BY PRICE POINT
BY TYPE Single Family
Less than $1M $1M to $2M
Multi-Family
$2M to $4M
Land
$4M +
2019 VS. 2020
05
10
15
20
25
2019
2020
% Change
Residential
19
29
+52.6%
Commercial
0
0
0%
Land
5
3
-40%
30
SCONSET Highest Home Sale
Most Days on Market
Biggest Discount
33 Low Beach Road $7,500,000
4 Seven Mile Lane 2,988
71 Baxter Road 51.29%
Number of transactions in Sconset in 2020
Avg. Days on Market in Sconset in 2020
Avg. Sale Price in Sconset in 2020
78
549
$2.2M
AT A GLANCE
BY PRICE POINT
BY TYPE
Less than $1M
Single Family
$1M to $2M
Land
$2M to $4M $4M +
2019 VS. 2020
01
02
03
04
05
2019
2020
% Change
Residential
23
56
+144%
Commercial
0
0
0%
Land
6
22
+267%
06
POLPIS Highest Home Sale
Most Days on Market
Biggest Discount
248 & 250 Polpis Road $23,500,000
339 Polpis Road 2,352
76 Polpis Road 62.61%
Number of transactions in Polpis in 2020
Avg. Days on Market in Polpis in 2020
Avg. Sale Price in Polpis in 2020
15
855
$4.1M
AT A GLANCE
BY PRICE POINT
BY TYPE Single Family
Less than $1M $1M to $2M
Land
$2M to $4M $4M +
2019 VS. 2020
03
69
12
2019
2020
% Change
Residential
5
13
+160%
Commercial
0
0
0%
Land
1
2
+100%
15
QUIDNET, POCOMO & WAUWINET Highest Home Sale
Most Days on Market
Biggest Discount
29 & 33 Medouie Creek Road $12,650,000
12 Margarets Way 2,414
16 Eat Fire Spring Road 47.14%
Number of transactions in Tom Nevers in 2020
Avg. Days on Market in Tom Nevers in 2020
Avg. Sale Price in Tom Nevers in 2020
31
708
$4.9M
AT A GLANCE
BY PRICE POINT
BY TYPE
Less than $1M
Single Family
$1M to $2M
Land
$2M to $4M $4M +
2019 VS. 2020
05
10
15
20
2019
2020
% Change
Residential
12
25
+108%
Commercial
0
0
0%
Land
2
3
+50%
25
Jeff Lee • Bruce Beni • Chloe Bruning • Dan Dunlap Shellie Dunlap • Carolyn Durand • Peter Engen • Hal Herrick Sam Herrick • Jeanne Hicks • Mimi Huber • Maya Kearns Bob Lang • Joe Lloyd • Kiri Mullen • Liza Ottani • Jon Raith
10 South Beach Street • Nantukcket, MA 02554 508.325.5800 • office@leerealestate.com • leerealestate.com