Three bedroom home nestled in a wooden area on 1.37 acres. The expansive grounds and back porch are perfect for outdoor enjoyment, and the widow?s walk offers peeks of the Harbor. The current home, prime for carefree summer living, has the classic charm of Old Nantucket. There also exists the potential to build with alreadyContinue Reading
Listed in March for $750,000 11 Gray Avenue quickly got an accepted offer and sold over asking price for $802,560. Investment opportunity or fix up and enjoy this 3 bedroom home on 1.4 wooded acres. Potential subdivision into multiple lots may be possible.
Listed in October for $3,695,000 123 Cliff Road got an accepted offer in April, went under agreement in May and sold yesterday for $3,217,000. Classic Nantucket home located in desirable Cliff area with water views, deeded beach access and close proximity to the Westmoor Club. Five bedrooms, four baths with a garage set on overContinue Reading
Listed for $2,495,000 in September 216 Cliff Road sold for $2,250,000 yesterday. Four bedroom, 3.5 bath Cliff Road home with extensive landscaping, stonework and decks, including a private, recessed deck at the roof peak.
Listed in october for $1,245,000 36 Goldfinch Drive had one price reduction to $999,000, went under agreement in April and sold yesterday for $910,000. Spacious five bedroom home is in one of Naushop’s best locations. With three floors of living space, two family rooms, a covered porch, patio, and private yard, it nicely accommodates largeContinue Reading
NO SURPRISES
October 2011 sales were well off in comparison to October 2010. Both dollar volume and number of transactions were down over 40%. As a result, year over year comparisons to date show two less transactions in 2011 and a 19% decline in sales volume. As noted last month, a large portion of that dollar decline has been due to drop in eight figure transactions. There were seven transactions through October 2010, totaling $119,950,000. This year there have been only two, totaling $24,425,000. This descrepency makes up for the entire dollar volume difference.
WHAT IS AHEAD
As the year comes to a close, it is likely that real estate sales will not measure up to last year’s, in terms of dollar volume totals. Transaction volume should be similar to 2010. Framing these sales numbers are the consistent decrease in sales inventory as well as the declining number of price reductions. In all, these factors point to a healthy market. Volume has been steady over the last 24 months and sellers have begun adjusting their asking prices to levels that reflect the current environment. With the historically low interest rates, buyers are seeing a great opportunity to purchase. This is somewhat remarkable when considering the global economy is unsettled at best. Yet, Nantucket’s appeal remains unabated and buyer demand, although damped, is present.
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