The Nantucket Real Estate Market

Nantucket Real Estate Market Update

Nantucket’s real estate market had another uptick in year-over-year house sales with 22 sales in August compared to 13 for August 2022.

Yet, with just 145 houses sold as of August 31, we still have to return to 2010 to find a year with similar total house sales.

• House sales transactions and dollar volume are off 25% from last August 31.

• Land sales are similarly unremarkable with just 28 closings through August 31, off 62% from August 31, 2022. Land dollar volume is off 50% from last year.

As of August 31, 2023 vs. 2022 Year to Date

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 timeshare sales. We do include properties restricted by an affordable housing covenant and purchases by conservation organizations.

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Another Landmark Year.

2022 was another remarkable year for the Nantucket real estate market. Buyers continued to demonstrate their enthusiasm as the world inched away from the many distortions fueled by the pandemic and the year ended much the way it started with the theme of low inventory. As we start another year, we look forward to continuing working with our clients and providing outstanding service.