The recent AP story posted on Yahoo points out to a pattern that is occurring in the Nantucket Real Estate market and that is: location and quality will be the driving forces to attract buyers in a weaker market. On a macro level areas like San Francisco, Boston and New York will lead the way in a housing recovery due to the limited available space. South Florida and Arizona will have a long slow crawl out since the amount of available space is greater than the eye can see. On Nantucket we see similar trends. Waterfront and unique in-town properties are being gobbled up at a pace we have not seen in several years but other areas like Naushop (where there is a bulging inventory) are languishing and aiding a static inventory that makes Nantucket buyers feel comfortable that there is no rush to decision making. And how about the super goofy properties where no apparent merits are obvious? Forget about it! So the trend on Nantucket will be an absorption of quality properties and a slowly diminishing inventory that will be long in less unique properties.
Add Comment