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The Nantucket Real Estate Market

August 2019 Market Update

Posted: September 10, 2019, by Edward Sanford

August 2019 Nantucket real estate sales saw a significant uptick in house transactions over August 2018. 41 houses sold compared with just 19 sales last August. August land sales were level with August 2018, but the year to date results are a bit skewed as a 36 lot Sconset subdivision sold in bulk in July 2018. Removing those sales from the totals, the 47 lot sales as of August 31, 2019 are running about average for eight months of sales. There was one commercial closing in August and commercial sales are having an excellent year.

Dollar volume is on track to finish over $1 billion again, propelled by an active commercial sales market that offsets the decline in land dollar volume. House dollar volume, despite the decline on sales, is on par with 2018.

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How Great Point Properties Compiles Real Estate Sales Statistics

Great Point Properties compiles data of Nantucket real estate sale from the Nantucket multiple listing service (LINK), the Town of Nantucket Land Bank records, and the Town of Nantucket Registry of Deeds. Our goal is to provide our clients with a consistent view of the Nantucket real estate market using all available means to verify transactions. Great Point Properties includes all sales that are arm’s length market transactions, whether properties were listed by a real estate office or not. We do not include partial sales, inter-family sales, and time share sales. We do include properties restricted by an affordable housing covenant and purchases by conservation organizations.

As of August 31, 2019

vs. 2018 Year to Date

  • Avg. Sale Price: $2,322,762 6.3%
  • Median Sale Price: $1,562,500 5.6%
  • Avg. Sale to Assessed: 117% -9.8%
  • Avg. Sale to Original Ask: 91% -0.9%
  • Avg. Sale to Last Ask: 94% -0.2%
  • Avg. Days on Market: 152 -22.7%
  • Total Dollar Volume: $459,906,796 -0.3%
  • Total Houses Sold: 198 -6.2%
  • Avg. Sale Price: $1,112,844 7%
  • Median Sale Price: $900,000 44%
  • Avg. Sale to Assessed: 131% 29.3%
  • Avg. Sale to Original Ask: 93% -5.8%
  • Avg. Sale to Last Ask: 95% -4.2%
  • Avg. Days on Market: 157 -34.8%
  • Total Dollar Volume: $52,303,656 -42.9%
  • Total Land Sales: 47 -46.6%
  • Avg. Sale Price: $4,595,355 98%
  • Median Sale Price: $2,845,983 13.3%
  • Avg. Sale to Assessed: 131% -22%
  • Avg. Sale to Original Ask: 93% -6.3%
  • Avg. Sale to Last Ask: 94% -5.3%
  • Avg. Days on Market: 302 54.1%
  • Total Dollar Volume: $64,334,970 246.5%
  • Total Commercial Sales: 14 75%
  • Avg. Sale Price: $2,226,044 19.6%
  • Median Sale Price: $1,475,000 22.9%
  • Avg. Sale to Assessed: 120% -2.5%
  • Avg. Sale to Original Ask: 91% -2.8%
  • Avg. Sale to Last Ask: 94% -1.7%
  • Avg. Days on Market: 157 -22.3%
  • Total Dollar Volume: $576,545,422 0.9%
  • Total Sales: 259 -15.6%

Recent Sales

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  • YTD
AddressAreaPriceListing Price% Listing PriceDOMTypeBRBA
31 Shell Street Sconset$1,150,000$1,345,50085.47%22Single family42
23 Longwood Drive Tom Nevers$1,500,000$1,550,00096.77%0Single family22
1 Wood Lily Road South of Town$2,200,000$2,295,00095.86%216Single family44.1
2 King Street Sconset$1,280,000$1,299,00098.54%2Single family42
2 Cato Lane Town$1,650,000$1,985,00083.12%334Single family33
11 Swayze Drive Miacomet$1,625,000$1,795,00090.53%0Single family33
74 Milk Street Town$1,665,000$1,899,00087.68%203Single family32
21R Vestal Street Town$900,000$900,000100%0Single family21
9 Daffodil Lane # B Surfside$950,000$995,00095.48%41Co-op33.1
1 Nautilus Lane Surfside$2,025,000$1,795,000112.81%0Single family65.1
4 Witherspoon Drive # Side A (left) Mid Island$950,000$975,00097.44%43Condo32.1
3 Parker Lane Mid Island$475,000$530,00089.62%36Land--
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