I've been meaning to write a new blog post for awhile now because a lot has happened and I expect more will be in the near term. I'm gonna touch base on a few things here, sales, new listings, rentals for 2012 and ferry tickets. May be a longer post then normal but I will try to be succinct.
- 1st Vacation Rentals on Nantucket Summer 2012!
The phones have been ringing and emails flying in. Many future tenants have been calling since Jan 1st to book their summer rentals for this coming season. It already seems that inventory is dwindling quickly and it has become more difficult to find matches for tenants and homeowners. Rental inventory books in this cycle – Sept/October 25% of the inventory books to returning tenants who are happy with their homes from the previous season. Jan/Feb 50% of the inventory books in just 60 days, to new tenants or those moving around, it seems many people wait until the 1st of the year to book their summer vacation. After Valentine’s day there is only approx 25% of the inventory left making it difficult to find the right match for disconcerting tenants. My advice, reach out as soon as possible. Things important to be clear on; exact dates of stay (most rentals turnover on Sat.), budget, size and location of a home. Do wait, reach out soon!
- Advance ferry reservations on the Nantucket Steamship Car Ferry.
Advance reservations have already gone on sale, Jan 17th the Steamship started accepting reservations for automobiles. Make your car reservation ASAP! You will need your profile information handy or make a new one. Saturday reservations sell out very quickly so if your reading this and don’t have a reservation follow this link NOW! - https://reservations.steamshipauthority.com/vehiclersvp/
- Nantucket Real Estate Sales Activity.
Activity seems to have picked up pretty good lately. Since Jan 1st I have seen many deals negotiated and have signed offers to purchase or purchase and sale agreements. Activity is strong in most price points, the ultra high end, $5 million plus seems a little slow (but inventory is not that strong in this price point). In fact inventory seems down across the board with only 484 properties listed. Since Lehman in 2008 we saw as many as 675 listings on the market at one time. From $500,000 up to $5 million I have seen more than a handful of deals come together. To view listings with offers to purchase follow this link, to see homes with purchase and sale contracts on Nantucket click here.
Here is a quick chart on the inventory stats.
If you are considering listing your Nantucket home for sale and want to chat about that, start here.
I won't wait so long to post next time, coming soon I will expand on my view of where the Nantucket market is now in realtion to where it was pre-lehman and post-lehman and where I think it is heading.
If you have questions, don't hesitate to call, email or look around the website for your anwsers.