Nantucket Real Estate Agent Blog

March 3^rd, 2010 Nantucket Real Estate market update:  As of this morning there are 493 properties for sale on Nantucket, this includes all types, single family, land, commercial condo and others.  As memory serves this time last year there were over 700 properties listed for sale on island - (I’m looking to the data source LINK Nantucket to try and find the real number). 

There are currently: 

• 366 Single Family Homes for sale on Nantucket
• 6 Co-op’s
• 65 Condos
• 26 Commercial listings
• 68 Land Listings available on island
• 18 Muilti Family

• There are 11 new listings and new inventory is being added daily for the Spring/Summer market (a new listing is anything considered new within 7 days).
• 39 properties are under contract and had a total listing value for the group of $18,261,699.

• Since January 1^st 2010 there have been 34 properties that have sold and closed on Nantucket Island.  The avg. price was $2,094,938 the median was $1,000,000.  The avg. amount time they were listed was 338 days.  The highest sale on Nantucket recorded for 2010 so far was $19,200,000 (pictured below).  The lowest sale recorded was $340,000. 
  
  
• For the same time period in 2009 (Jan 1^st to March 3^rd) 21 Properties transferred.  The avg. price of those sales was $1,700,000.  The median was $1,336,500.  And the avg. days on market was 162. The highest sale for that time period was $5,750,000 and the lowest was $445,000. 

There are:

• 55 Listings for sale on Nantucket from 0 - $500,000 avg price $411,109; median $430,00 avg DOM 222
• 132 Listings for sale from $501,000-$1,000,000 avg price $790,124; median $795,000 avg DOM 306
• 158 from $1,001,000 to $2,000,000 avg price $1,482,296 avg DOM 387
• 89 from $2,001,000 to $3,500,000 avg price $2,781,640 median $2,750,000 avg. DOM 389
• 43 from $3,501,000 to $5,000,000 avg price $4,191,930 median $3,995,000 avg. DOM 385
• 31 High end properties for sale on Nantucket priced over $5,000,000 with an avg. price of $10,619,677 a median of $8,950,000 and avg. DOM 395

In recent weeks on Nantucket there has been a lot of sales activity for the winter period, there have been lots of showings in both the year round market and the vacation home market.  There are a number of properties at this time that are in offer negotiations that are not reflected in the data above.  The data was drawn from LINK Nantucket – Nantucket’s MLS service.  If you are interested in more data, listings for homes on Nantucket, CMA for your Nantucket property or just want to chat about the market please contact me.  The 2009 Year End Sales report is available for download here.