A FAST START
The first 2 months of 2012 are off to a very positive start. Nantucket real estate sales have expanded 47% in transactions and 64% in dollar volume over the same time period of 2011.
Although it is a bit early to suggest this will be harbinger for the entire year it is a heartening sign. In addition there are some other metrics that point to an improving market. This chart is a snap shot through the end of February:
Over the last 2 years inventories are down and contracts and sales up. As result the pace of price reductions has slowed. All these factors point to an improving sales market. Today Buyers still have a great opportunity to buy. If the above trends continue, that window maybe closing.
Next Tuesday, Oct. 21, the Historic District Commission will vote whether to allow a developer to move a barn-like structure from 29 North Liberty St. to Bartlett Road, thus significantly changing the streetscape of this area of town once referred to as “Egypt,” due to its quaint and mysterious allure.
For years, politicians, housing advocates and potential home buyers have complained that tight credit policies after the housing market crash have kept too many deserving people from qualifying for mortgages.
The home, constructed in 1913, pays homage to its history while featuring modern amenities like an indoor pool.
To take advantage of near-record low mortgage interest rates and home prices undervalued by as much as three percent nationwide, now is a great time to buy a home.
Sales of previously owned homes climbed in September to the highest level in a year, pointing to growing confidence in the U.S. economy as employment firms.