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Accentuated by professionalism and integrity, our team of Nantucket real estate agents and brokers is here to help you find the perfect Nantucket home. Our knowledgeable team has local roots and can guide you with experience and an understanding of island life. Whether you are looking for a Nantucket vacation rental or interested in purchasing on Nantucket, Great Point Properties strives to deliver service with friendliness, expertise and a sense of pride in the island of Nantucket.
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Great Point Properties Real Estate Market Update
Posted: July 23, 2019, by Edward Sanford
For the first six months of 2019, Nantucket real estate sales have seen the lowest transaction volume since 2013. The downturn is attributed solely to house sales. Land transactions are holding steady and commercial sales have seen a robust start with over $60 million in sales on 13 transactions. 2019 house sales have recorded 131 transactions as of June 30th versus the five-year average of 169 sales. Yet 85% of the decline is sales less than $1 million. The single reason for that is the significant decline in inventory of homes for sale under $1 million. That sales de-cline has not been offset by increased sales in other segments.
