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Nantucket Real Estate Market Update
Posted: March 5, 2020, by Edward Sanford
Nantucket real estate sales through February have continued the positive start to 2020. House sales volume is higher than the first two months of 2019 but lags the five-year average. Land sales, although matching the 2019 results, are running well below the five-year average. Commercial sales volume is on par with the averages.
Dollar volume has surged ahead of 2019 and is outpacing the five-year average. House dollar volume has been elevated by the sale of five properties over $5 million compared to just one as of February 28, 2019. The $122 million in sales is the second best two month start to a year, with only 2018 besting this total. Land transaction volume is also healthy with three sales above $2 million.
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