The Nantucket Real Estate Market

The Nantucket Real Estate Market

Fewer sales and less inventory, but higher prices.

August Market Update

Nantucket real estate sales for August 2022 closed with 13 houses and six vacant lots sold. Total dollar volume for the month was $57 million. This volume was off considerably from August 2021, when 29 houses and nine vacant lots sold on a dollar volume of $134 million. Yet 2022 sales remain healthy. Despite a transaction decline against the five-year average, dollar volume is the second highest ever for the eight months ending August 31.

      Read More in Our August 2022 Market Report

        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.

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        One for the books.

        Anyone who says that they knew how 2021 would unfold is, well... lying. It was another banner year. Going into the year, we discussed how people have come to value Nantucket more than ever and are looking to invest in their piece of this extraordinary island. We did not anticipate the speed and levels with which the buyers approached the Nantucket real estate market. In hindsight, it all seems so clear. Decades of wealth accumulation, low-interest rates, and a unique island merged, and we should have known that we would see record sales volume. But no, we did not see it coming. Thanks to all who have worked with Great Point Properties through these very unusual times.

        2021 Annual Market Report