April Market Insights - Nantucket Real Estate

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NANTUCKET REAL ESTATE Market Insights BY JEN ALLEN MONTHLY SALES HIGHLIGHTS

NOTABLE SALE

HIGHEST SALE

$36,000,000

$25,000,000*

$18,875,000

4 MIDDLE VALLEY ROAD PRIVATE SALE

FISHER’S

7 HEATHER LANE PRIVATE SALE

KEY MARKET STATISTICS

REVIEW

ALL PROPERTY TYPES

FY 2022

Transactions Dollar Volume ($in 000s)

FY 2021

139

$605,326

-23% f

$367,291

5.9

-47% f

6.3

97%

95%

2d

94%

-28% f

228

224

$468,847 3.1

Sale Price to Last Ask Price Active Listings (April)

5-YEAR AVG.

-42% f

131

Avg. Months on Market

% CHANGE YOY

91

127

Months Supply of Inventory

1.7

2.0

-15% f

7.2

New Contracts (April)

26

72

-64% f

32

NANTUCKET REAL ESTATE ACTIVITY THROUGH APRIL 2011–22

# of Transactions

Dollar Volume

APR 22

21 LINCOLN AVENUE PRIVATE SALE

Following the $267 million in total first quarter sales volume, April sales put up quite a show with $200 million in sales volume for the 30-day period alone. It was a headline-splashing month for Nantucket real estate with two property sales setting the record for the highest property sales on the island. Another four ultra-high-end transactions amounted to a total of six property transfers that totaled $120 million, or 60 percent of all monthly sales volume. All told, there were 46 transactions totaling $201.8 million in April. Impressive against nearly all other previous April periods, these figures represented a respective decline of 34 percent and 20 percent from the monstrous performance in April of 2021. Property inventory levels increased from March but were down 31 percent from the same time one year ago. Meanwhile, contract activity declined modestly from March figures and were off nearly 64 percent from April 2021. Here are Fisher’s April Market Insights…

HIGHEST LAND SALE

Dollar Volume per Quarter

Q1

Q2

# of Transactions

© 2 0 2 2 F I S H E R R E A L E S TAT E

(508) 228–4407 21 MAIN STREET, NANTUCKET, MASSACHUSETTS

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