The Nantucket Real Estate Market

February 2019 Market Update

Posted: March 11, 2019, by Edward Sanford

For the first two months of 2019 Nantucket real estate sales are off substantially from last year. Sales for the first two months of 2018 were a bit of an outlier so, in comparison, house sales are off in most price sectors with a total of 27 fewer sales than last February 28. The 37 transactions this year are the lowest since 2013.

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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 February 28, 2019

vs. 2018 Year to Date

Avg. Sale Price: $ 2,176,395 -5.5%
Median Sale Price: $1,670,000 8.6%
Avg. Sale to Assessed: 112% -14.4%
Avg. Sale to Original Ask: 91% -2.2%
Avg. Sale to Last Ask: 95% -0.3%
Avg. Days on Market: 187 -5%
Total Dollar Sales: $80,526,610 -45.4%
Total Houses Sold: 37 -42.2%

Avg. Sale Price: $840,786 -43.8%
Median Sale Price: $440,000 -52.2%
Avg. Sale to Assessed: 119% -0.1%
Avg. Sale to Original Ask: 92% -4.4%
Avg. Sale to Last Ask: 95% -2.3%
Avg. Days on Market: 365 61.7%
Total Dollar Sales: $5,885,500 -79.3%
Total Houses Sold: 7 -63.2%

Avg. Sale Price: $1,843,000 -12%
Median Sale Price: $2,000,000 -11.3%
Avg. Sale to Assessed: 96% -46.3%
Avg. Sale to Original Ask: 88% -10.6%
Avg. Sale to Last Ask: 90% -8.6%
Avg. Days on Market: 128 -22%
Total Dollar Sales: $9,215,000.00 -12%
Total Houses Sold: 5 0%

Avg. Sale Price: $ 1,951,574 -7.8%
Median Sale Price: $ 1,575,000 3.9%
Avg. Sale to Assessed: 112.00% -15.8%
Avg. Sale to Original Ask: 91.00% -3.3%
Avg. Sale to Last Ask: 95.00% -1%
Avg. Days on Market: 207 2.8%
Total Dollar Sales: $ 95,627,110 -48.7%
Total Houses Sold: 49 -44.3%

	Dollar Volume			Transactions
Febraury Sales	2019	2018	var.	2019	2018	var.
Houses	$ 23,300,500	$ 67,263,719	-65.4%	13	28	-53.6%
Land	$ 3,890,000	$ 7,542,900	-48.4%	3	16	-81.3%
Commercial	$ 790,000	$ 6,270,000	-87.4%	1	2	-50.0%
Totals	$ 27,980,500	$ 81,076,619	-65.5%	17	46	-63.0%

	Dollar Volume			Transactions
YTD as of February 28	2019	2018	var.	2019	2018	var.
Houses	$ 80,526,610	$ 147,357,219	-45.4%	37	64	-42.2%
Land	$ 5,885,500	$ 28,404,931	-79.3%	7	19	-63.2%
Commercial	$ 9,215,000	$ 10,476,000	-12.0%	5	5	0.0%
YTD Totals	$ 95,627,110	$ 186,238,150	-48.7%	49	88	-44.3%

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
13 A Pine Tree Road	Mid Island	$840,000	$925,000	90.81%	99	Single family	2	3
69 South Shore Road	Surfside	$2,125,000	$2,495,000	85.17%	257	Single family	4	3.1
3 Crestwood Circle	Tom Nevers	$1,100,000	$1,100,000	100%		Land	-	-
3 Upper Tawpawshaw Road	Middle Moors	$825,000	$875,000	94.29%	212	Land	-	-
2 Saccacha Avenue	Cisco	$3,200,000	$3,200,000	100%		Single family	4	4
39 & 43 Quidnet Path	Quidnet	$2,250,000	$2,250,000	100%		Land	-	-
6 Corby Way	Mid Island	$1,175,000	$1,249,000	94.08%	39	Single family	4	3.1
11 Liberty Street	Town	$2,195,000	$2,195,000	100%		Single family	2	2.1
6 West Way	Fishers Landing	$1,252,000	$1,252,000	100%		Single family	6	4.1
12 Lyons Lane	Tom Nevers	$1,417,500	$1,595,000	88.87%	157	Single family	3	2
3A Sun Island Road # 4	Mid Island	$410,000	$410,000	100%		Condo	1	1
20 North Water Steet	Town	$3,191,966	$3,191,996	100%		Commercial	14	12
3 Step Lane	Town	$4,148,004	$4,148,004	100%		Multi-Family	20	9
1 Jonathan Way	Tom Nevers	$1,542,500	$1,825,000	84.52%	221	Single family	4	3
29 Rhode Island Avenue	Madaket	$1,249,500	$1,375,000	90.87%	566	Single family	2	1
14 Lewis Court	Mid Island	$912,500	$995,000	91.71%	79	Single family	4	2
1 Thurstons Way	Mid Island	$650,000	$775,000	83.87%	147	Single family	2	2
17 Main Street # 1	Town	$4,900,000	$5,300,000	92.45%	236	Commercial	-	-
2 Cranberry Lane	South of Town	$2,225,000	$2,475,000	89.9%	183	Single family	4	4.1

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