August 2020 Nantucket Real Estate Market Insights

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AUG 20

NANTUCKET REAL ESTATE Market Insights BY JEN ALLEN

MONTHLY SALES HIGHLIGHTS

HIGHEST SALE

QUICKEST SALE

$16,500,000

$2,175,000

56 MONOMOY ROAD MARKETED FOR [69 Days]

After trailing 2019 figures for the last eight months, cumulative Nantucket real estate dollar volume rose handsomely above last year’s figures by the end of August 2020. Transaction figures also narrowed its gap but remained off approximately nine percent from the same period one year ago. Monthly activity set an historic August record with 52 transactions totaling $173.5 million. This brought year-to-date sales through August 31, 2020 to 224 transactions totaling $623 million, a respective nine percent rise in dollar volume but nine percent decline in transaction volume from August 31, 2019. Single-family home sales saw higher price point activity than historic norms, which led to a significant rise in the 2020 average home sale value. Additionally, new contract activity set yet another monthly record indicating that the local market is poised to set new annual records. Here are Fisher’s August Market Insights…

3 WINGSPREAD LANE MARKETED FOR [1,698 Days]

KEY MARKET STATISTICS ALL PROPERTY TYPES

FY 2020

Transactions Dollar Volume ($in 000s)

FY 2019

% CHANGE YOY

5-YEAR AVG.

224

245

–9% f

251

$623,248

$569,646

9% d

$569,477

7.1

6.4

11% d

6.8

Avg. Months on Market Sale Price to Last Ask Price

93%

93%

0%

94%

Active Listings (Aug)

353

480

-26% f

424

Months Supply of Inventory

10.5

13.1

-20% f

10.7

137

73

88% d

59

New Contracts (Aug)

NANTUCKET REAL ESTATE ACTIVITY THROUGH AUG 2011–20

# of Transactions

©2020 FISHER REAL ESTATE

REVIEW

$4,500,000

50 HUMMOCK POND ROAD MARKETED FOR [1 Day]

Dollar Volume

FISHER’S

LONGEST SALE

Dollar Volume per Quarter

Q1

Q2

Q3YTD

# of Transactions

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

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