Spring on Nantucket – Update for Real Estate and more!
Nantucket has awoken from winter’s slumber, spring has arrived! There are a number of new and exciting changes on island that include, real estate, restaurants, shopping, beach activities, bike paths and more. It’s been quite awhile since Nantucket Real Estate Agents last blog post, I was very busy this winter I saw market timing was right so I sold a rental property and purchased a new one here on island, I spent most of Dec, Jan, Feb renovating the new property to have it rental ready. The tenants moved in last week! Rather than cover all of the changes at once and in depth now we will touch base and give a taste of a few things and come back to them individually so expect a lot of updates over the next two weeks or so!
Real Estate on Nantucket:
The Nantucket real estate market is heating up! The number of properties in contract is up, and the inventory is down. Strong activity across the board – 44 listings have accepted offers or are under contract, avg. price $1,767,781 highest $9,850,000.
Maury People Sotheby’s International Realty has listed Nantucket’s most expensive property ever at $59 Million. It is one of the most stunning pieces of property I have ever seen! (More on this coming soon).
The Nantucket Land Bank and Sconset Trust have purchased 119 Acres off Milestone Road, known as Skinners Golf Course. The purchase price was $16 Million – A great deal to know that this property will never be developed. – The unintended consequences of a purchase like this is it make ALL property on Nantucket more valuable because of the simple law of supply and demand, now even less property on island is available for personal use or development.
Nantucket Summer Vacation Rentals:
Homeowners – Are you ready? Have you made all your calls – caretaker, spring cleaning, landscape, have you freshened your linen, cleaned your AC units! Have an easy summer and prepare early. If you still have availability, call today and let us know.
Tenants – Call us right away, it has been the busiest winter in many years for early bookings of vacation rentals, at this time I would say 85% of the summer inventory is already booked
This winter at Nantucket Town Meeting, the Hummock Pond Road Bike path was approved to be built! Next winter construction will begin and the path will be available for use June 2013 as long as everything stays on schedule.
Restaurants: There is change in the downtown Nantucket Restaurant scene. Even Keel is becoming Met on Main, Cy’s is becoming the Sea Dog Brew Pub, Arno’s on Main is staying as Arnos but under new management, The Rope Walk is becoming Cru and The Brick Bistro is under new Management. There will be a lot of great food and new atmosphere’s to enjoy this year!
Nantucket Beach & Fishing Activities:
The Striped Bass have arrived, Schoolies and Keepers. Black Sea Bass, Squid, Mackerel, and Tautog have all been caught in the last week on Nantucket.
Nantucket Island Calendar of Events:
Coming Fast are the Nantucket Wine Festival, Film Festival, Spring Restaurant Week and more. Full Nantucket calendar of events coming shortly.
Keep an eye out for all of these and more updates coming soon. Please send any questions or topics that you would like to hear more about on Nantucket.
I look forward to hearing from you.