All Areas

The Nantucket Real Estate Market

Great Point Properties Market Update

Posted: October 9, 2018, by Edward Sanford

As Great Point Properties prepares our third quarter Nantucket real estate sales report, here is a quick overview of real estate sales as of September 30, 2018. House transactions are off across the board, with only the $1M-$2M (102 vs. 82) price segment ahead of last year’s pace. Land transactions below $1,000,000 are inflated as two subdivision transactions incorporated 46 lots. Land sales above $1,000,000 are very robust with 24 closings versus only 5 as of last September 30th. With land sales propelling dollar volume up 226% over last year, total dollar volume is ahead of the four-year average but still lagging 2017’s pace. If closings continue at average volume for the next three months, we still expect another $1 billion-plus sales year for the Nantucket real estate market.

 

SIGNUP FOR OUR NEWSLETTER

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.

Quick Stats as of September 30, 2018

vs. 2017 Year to Date

  • Avg. Sale Price: $2,214,960 -7.1
  • Median Sale Price: $1,530,000 -2.9
  • Avg. Sale to Assessed: 127% 0.8
  • Avg. Sale to Original Ask: 92% -1.1
  • Avg. Sale to Last Ask: 94% -1.1
  • Avg. Days on Market: 202 15.4
  • Total Houses Sold: 256 -7.6
  • Total dollar sales: $567,092,832 -14.1
  • Avg. Sale Price: $1,072,265 49.9
  • Median Sale Price: $625,000 -1.3
  • Avg. Sale to Assessed: 101% -27.3
  • Avg. Sale to Original Ask: 99% 5.3
  • Avg. Sale to Last Ask: 99% 4.2
  • Avg. Days on Market: 237 -34
  • Total Land Sold: 98 117.8
  • Total dollar sales: $105,081,931 226.4
  • Avg. Sale Price: $2,320,750 -54.6
  • Median Sale Price: $2,513,000 79.5
  • Avg. Sale to Assessed: 168% 9.8
  • Avg. Sale to Original Ask: 99% 3.1
  • Avg. Sale to Last Ask: 99% 3.1
  • Avg. Days on Market: 196 4.8
  • Commercial: 8 -20
  • Total dollar sales: $18,566,000 -63.7
  • Avg. Sale Price: $1,860,742 -10.8
  • Median Sale Price: $1,200,000 -7
  • Avg. Sale to Assessed: 123% -2.4
  • Avg. Sale to Original Ask: 94% 1.1
  • Avg. Sale to Last Ask: 96% 1.1
  • Avg. Days on Market: 202 -1
  • Total Sales: 307 12.5
  • Total dollar sales: $571,247,863 0.3

Recent Sales

  • January
  • February
  • March
  • April
  • May
  • June
  • July
  • August
  • September
  • October
  • November
  • December
  • YTD
AddressAreaPriceListing Price% Listing PriceDOMTypeBRBA
33 Pequot Street Surfside$5,575,000$5,765,00096.7%3Single family66.3
1 Hamblin Road Cliff$3,125,000$3,250,00096.15%47Single family44.1
1 Harborview Drive Shimmo$3,625,000$4,695,00077.21%70Single family53
66 Hawthorne Park Hummock Pond$1,375,000$1,375,000100%0Land--
28 Lily Street Town$3,895,000$4,195,00092.85%112Single family63.1
27 Milk Street Town$1,275,000$1,299,00098.15%15Single family21.1
56 Goldfinch Drive Naushop$1,325,000$1,380,00096.01%29Single family43.1
6 Saccacha Avenue Cisco$6,400,000$6,950,00092.09%108Single family57.2
21A Park Circle # Unit A Mid Island$575,000$625,00092%61Condo22.1
10 Uncatena Street Surfside$6,100,000$6,695,00091.11%32Single family55.2
10 Sunset Ridge Lane Sconset$3,937,500$4,195,00093.86%105Single family68.1
16 Pine Tree Road Mid Island$765,000$850,00090%104Single family32
108 Cliff Road Cliff$4,235,000$5,100,00083.04%398Single family55.1
16 Berkley Street Tom Nevers$1,010,000$1,295,00077.99%349Single family22
23 Bank Street Sconset$2,850,000$2,995,00095.16%160Single family43.1
5 East Lincoln Avenue Brant Point$2,500,000$2,550,00098.04%22Single family43
16 Cliff Road Cliff$5,050,000$5,900,00085.59%98Single family86.2
33 Crooked Lane Cliff$1,750,000$1,750,000100%0Single family32
71 Milk Street West of Town$4,942,313$5,350,00092.38%59Single family55.2
29 Washington Street Town$1,350,000$1,350,000100%3Single family53
1 Delaney Road Cliff$2,751,106$2,650,000103.82%26Single family44.1
75 Hinsdale Road # 2 Mid Island$790,000$825,00095.76%115Condo44
120 Tom Nevers Road Tom Nevers$5,300,000$7,995,00066.29%468Single family55.1
18 Mill Street Town$4,750,000$4,950,00095.96%0Single family65.1
13 Union Street Town$1,700,000$2,250,00075.56%49Single family53
11 Massachusetts Avenue Madaket$2,975,000$2,995,00099.33%20Single family53.1
41 Ocean Avenue Sconset$12,000,000$13,850,00086.64%39Single family57.2
18 West Sankaty Road Sconset$1,425,000$1,495,00095.32%85Single family33
23 Boulevarde Surfside$4,550,000$5,195,00087.58%455Single family56.1

Market Archives

2018 Mid-Year Report

2018 First Quarter Report

Great Point Properties First Quarter Report 2018

2017 Year In Review

2017 Q3

Mid-Year 2017

2017 Q1

2016 Year in Review

2016 Q3

2016 Q2