July 2020 Nantucket Real Estate Market Insights

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JUL 20

NANTUCKET REAL ESTATE Market Insights BY JEN ALLEN

MONTHLY SALES HIGHLIGHTS

HIGHEST SALE

HIGHEST LAND SALE

$8,130,000

$16,000,000

5 POND VIEW DRIVE MARKETED FOR [1 Day]

July represented the first month since February that saw a year-over-year increase in sales volume. And the increase was remarkable at nearly two and a half times the volume witnessed during each of the months in the second quarter. Monthly sales included 44 transactions totaling $126 million through the period ending July 31, 2020, a respective 47 percent and 40 percent increase from the same period one year ago and the highest July sales volume on record. Cumulatively, for the six months ending June 31, 2020, there were 172 property transfers totaling $450 million. This narrowed the year-over-year gap to 13 percent on a transaction basis and just four percent on a dollar volume basis. Single-family homes sales caught up to 2019 levels, while land and commercial sales lagged behind. Contract activity also set a historic record, setting the stage for a vibrant third and fourth quarter. Here are Fisher’s Market Insights for July 2020...

20 ARROWHEAD DRIVE SOLD PRIVATELY

KEY MARKET STATISTICS ALL PROPERTY TYPES

FY 2020

Transactions

FY 2019

% CHANGE YOY

5-YEAR AVG.

172

198

–13% f

212

$449,729

$468,580

-4% f

$470,261

6.8

6.9

–1% f

7.1

Sale Price to Last Ask Price

93%

93%

0

93%

Active Listings (July)

380

495

-23% f

433

Months Supply of Inventory

11.5

14.3

-20% f

13

98

56

75% d

59

Dollar Volume ($ in 000s) Avg. Months on Market

New Contracts (July)

NANTUCKET REAL ESTATE ACTIVITY THROUGH JULY 2011–2020

# of Transactions

©2020 FISHER REAL ESTATE

REVIEW

$2,400,000

36 WASHING POND ROAD MARKETED FOR [48 Days]

Dollar Volume

FISHER’S

COMMERCIAL SALE

Dollar Volume per Quarter

Q1

Q2

Q3YTD

# of Transactions

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

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