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Market Observations

Great Point Properties Market Update

Posted: November 9, 2017 by Edward Sanford

October was another strong month for Nantucket real estate sales.  After lagging all year, house sales match 2016.  The surge in October came from twelve closings in Sachem’s Path, the Towns affordable housing development. As of October 31st, there have been 20 affordable sales compared to 23 for the same period in 2016.  Regardless, sales below $1,000,000 are at a low not seen since 2010.

Total dollar volume is still on track to break $1,000,000,000 in sales. Great Point Properties is projecting $1,071,000,000. House sales volume has surged in the $2 million to $3 million and $6 million to $10 million segments, driving house
sales dollar volume up 11% for the year.

 

 

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Quick Stats as of October 31, 2017

vs. 2016 Year to Date

  • Avg. Sale Price: $2,338,714 10.5
  • Median Sale Price: $1,550,000 12.7
  • Avg. Sale to Assessed: 126% 0
  • Avg. Sale to Original Ask: 93% 1.1
  • Avg. Sale to Last Ask: 95% -1
  • Avg. Days on Market: 187 -6.5
  • Total Houses Sold: 336 0.3
  • Total dollar sales: $785,807,849 10.9
  • Avg. Sale Price: $827,376 -25.6
  • Median Sale Price: $680,000 -20.6
  • Avg. Sale to Assessed: 140% 12.9
  • Avg. Sale to Original Ask: 93% -3.1
  • Avg. Sale to Last Ask: 95% -2.1
  • Avg. Days on Market: 330 28.4
  • Total Land Sold: 51 -8.9
  • Total dollar sales: $42,196,185 -32.2

Recent Sales

  • January
  • February
  • March
  • April
  • May
  • June
  • July
  • August
  • September
  • October
  • November
  • December
  • YTD
AddressAreaPriceListing Price% Listing PriceDOMTypeBRBA
57 Washington Street, Town Town$3,995,000$4,450,00082.7%451Single family44.1
29 Ridge Lane, Fishers Landing Fishers Landing$695,000$695,00092.09%23Land--
11 Amelia Drive, Mid Island Mid Island$2,500,000$2,500,000100%Commercial--
8 Chuck Hollow Road, Tom Nevers Tom Nevers$1,400,000$1,400,00096.43%123Single family42
10 Still Dock, Town Town$2,250,000$2,250,00099.44%3Single family22.1
32 Evergreen Way, South of Town South of Town$525,000$525,00097.14%54Land--
31 Pine Crest Drive (portion of; Lot C), Mid Island Mid Island$385,000$385,00097.4%100Land--
8 Coffin Road, Tom Nevers Tom Nevers$4,500,000$4,650,00084.95%371Single family87.1
10 Plover Lane, Wauwinet Wauwinet$1,795,000$1,795,00096.1%110Single family43
1 Gully Road, Sconset Sconset$1,175,000$1,250,00082.48%139Single family32
8 Pilgrim Court, Town Town$6,595,000$6,595,00092.49%41Single family66.2
5 A Thurstons Way, Miacomet Miacomet$799,000$949,00082.93%146Single family42
4 Woodbury Lane, Town Town$4,350,000$4,350,00094.25%41Single family56.1
78 Goldfinch Drive, Naushop Naushop$1,495,000$1,595,00086.99%410Single family53.1
16 New Lane, Town Town$2,295,000$2,465,00089.45%120Single family43.1
18 Mary Ann Drive, Mid Island Mid Island$869,000$869,00086.31%58Single family32.1
52 Starbuck Road, Madaket Madaket$2,295,000$2,395,00084.55%82Single family34
141 Polpis Road, Polpis Polpis$1,995,000$2,095,00090.69%119Single family44.1
136 Miacomet Road, Miacomet Miacomet$4,750,000$4,750,00097.37%125Single family76.1

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