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Nantucket Real Estate Market Update
Posted: September 12, 2020, by Edward Sanford
Great Point Properties proudly reports on factual transactions, refraining from exaggeration.Albeit remarkable, the statistics from the past three months of Nantucket Real Estate activity
• As of August 21, 2020, total reported contracts are nearly double last year’s August 31 total. At 95% of the asking price, the potential dollar volume of those contracts is $520.5 million.
• With $625 million of real estate already sold, we should easily break the all-time record of $1.2 billion set in 2005. That year 611 properties sold, but as of August 31 we have only sold 228 properties.
• The largest dollar volume through August 31 was 2005 with $700 million in sales.
• 2020 July/August dollar volume totaled $300.3 million surpassing last year’s record July/August total by 55%.
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