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%

	Dollar Volume			Transactions
August Sales	2019	2018	var.	2019	2018	var.
Houses	$ 89,701,470	$ 39,244,500	128.6%	40	19	110.5%
Land	$ 9,275,000	$ 8,309,000	11.6%	7	7	0.0%
Commercial	$ 3,700,000	$ -		1	0
Totals	$ 102,676,470	$ 47,553,500	115.9%	48	26	84.6%

	Dollar Volume			Transactions
YTD as of August 31	2019	2018	var.	2019	2018	var.
Houses	$ 459,906,796	$ 461,159,932	-0.3%	198	211	-6.2%
Land	$ 52,303,656	$ 91,521,931	-42.9%	47	88	-46.6%
Commercial	$ 64,334,970	$ 18,566,000	246.5%	14	8	75.0%
YTD Totals	$ 576,545,422	$ 571,247,863	0.9%	259	307	-15.6%

Recent Sales

January
February
March
April
May
June
July
August
September
October
November
December
YTD

Address	Area	Price	Listing Price	% Listing Price	DOM	Type	BR	BA
31 Shell Street	Sconset	$1,150,000	$1,345,500	85.47%	22	Single family	4	2
23 Longwood Drive	Tom Nevers	$1,500,000	$1,550,000	96.77%	0	Single family	2	2
1 Wood Lily Road	South of Town	$2,200,000	$2,295,000	95.86%	216	Single family	4	4.1
2 King Street	Sconset	$1,280,000	$1,299,000	98.54%	2	Single family	4	2
2 Cato Lane	Town	$1,650,000	$1,985,000	83.12%	334	Single family	3	3
11 Swayze Drive	Miacomet	$1,625,000	$1,795,000	90.53%	0	Single family	3	3
74 Milk Street	Town	$1,665,000	$1,899,000	87.68%	203	Single family	3	2
21R Vestal Street	Town	$900,000	$900,000	100%	0	Single family	2	1
9 Daffodil Lane # B	Surfside	$950,000	$995,000	95.48%	41	Co-op	3	3.1
1 Nautilus Lane	Surfside	$2,025,000	$1,795,000	112.81%	0	Single family	6	5.1
4 Witherspoon Drive # Side A (left)	Mid Island	$950,000	$975,000	97.44%	43	Condo	3	2.1
3 Parker Lane	Mid Island	$475,000	$530,000	89.62%	36	Land	-	-

Great point properties is the leading Nantucket real estate firm specializing in Nantucket home sales and nantucket vacation rentals

The Nantucket Real Estate Market

August 2019 Market Update

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