FISHER’S
NANTUCKET REAL ESTATE
APRIL ‘23 REVIEW
KEY MARKET METRICS
Market Insights BY JEN ALLEN 2023
ALL PROPERTY TYPES
% CHANGE YOY
5-YEAR AVG.
68
133
-49% f
124
$218,104
$482,247
-55% f
$348,081
Months on Market
2.9
3.1
-6% f
5.3
Sale Price to Last Ask
98%
97%
1d
95%
Active Listings
116
91
27% d
228
Projected Absorption
3.6
1.7
110% d
6
New Monthly Contracts
15
28
-46% f
21
Transactions Dollar Volume ($ in 000s)
NANTUCKET REAL ESTATE ACTIVITY THROUGH APRIL 2013 - 2023
Dollar Volume
# of Transactions
Four months into the year, the Nantucket real estate market appears to be returning to ‘normalcy’ after the peak period of 20202022. April transactions continued at a modest trajectory compared to the previous two years and were more comparable to the prepandemic era, though with a distinct difference in the average sale price. Monthly April transactions tallied 16 sales totaling $50 million, bringing year-to-date figures to 61 property transfers totaling $215 million. On a cumulative basis, this reflects a respective decline of 53 percent and 54 percent from the same period in 2022. Sales volume continued to be restrained by low inventory and though inventory figures are rising, much of the inventory is less turnkey for the many buyers who want immediate use of an updated property. For the turnkey properties that do hit the market, transactions continue to happen at a rapid pace. Here are Fisher’s April Market Insights...
2022
Dollar Volume per Quarter
Q1
Q2YTD
# of Transactions
MONTHLY SALES HIGHLIGHTS
HIGHEST LAND SALE
PROPERTY RESALE
LOWEST HOME SALE
$6,150,000
$5,200,000
$925,000
26 DOUGLAS WAY OFF MARKET SALE
12 ELLENS WAY PRIOR SALE $3.08M MAY ‘19
12 W. SANKATY ROAD PRIVATE SALE
(508) 228–4407 21 MAIN STREET, NANTUCKET, MASSACHUSETTS
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