The Nantucket Real Estate Market

2024 Year in Review Real Estate Market Update

2024 was another monumental year for Nantucket real estate. Interest rates remained high, with many owners locked in with pandemic-driven low rates; inventory remained low, and the Nantucket Land Bank set the record for the highest residential sale in the entire state of Massachusetts.

Compared to 2023, 2024 transaction volume was slightly higher, 320 vs. 306 prior. When we compare 2024 numbers to the previous five-year average, we see that transaction volume was sharply lower than our island has historically been accustomed to. In 2024, transaction volume was down 39% compared to our 5-year average. When we zoom out and take a higher-level view, the average transaction volume from 2003 - 2022 was 495, making 2024 transaction volume 35% lower than our 20-year average.

As of December 31, 2024 vs. 2023 Year to Date

How Great Point Properties compiles real estate sales statistics.

Great Point Properties compiles data of Nantucket real estate sales 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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Great Point Properties Monthly Market Reports

From record-breaking transactions to island areas with the most sales, our Great Point Properties monthly updates give you the latest insight on the Nantucket real estate market.