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.
Survey results are in for the Sachem's Path affordable housing community, and for developers, the message is clear: Nantucket families want affordable housing.
When Sherburne Commons opened in early 2007, most of its residents thought it would be the last place they would ever live. They sold their homes and invested in the nonprofit elderliving community on 20 acres of town-owned land off South Shore Road.
On the radio (Saturday) before the snowfall begin, the newscaster said that people should shovel their roofs because more snow is expected; I heard the same admonition by a weathercaster on a Boston TV station.
Banks are encouraging home buyers to lock in mortgage rates to guard against rising borrowing costs.
Not long ago the pink house at 1829 Church Street, in the Glen Park neighborhood here, hit the market for $895,000. It sold for $1.425 million — $530,000 over the asking price — in less than two weeks.