FISHER’S
NANTUCKET REAL ESTATE
APRIL ‘24 REVIEW
KEY MARKET METRICS
Market Insights BY JEN ALLEN 2024
ALL PROPERTY TYPES
% CHANGE YOY
5-YEAR AVG.
61
61
0% r
110
$244,502
$215,525
13% d
$328,156
Months on Market
2.3
2.8
-18% f
4.8
Sale Price to Last Ask
96%
98%
-2 f
5%
Active Listings
180
116
55% d
160
Projected Absorption
7.4
3.6
107% d
5.0
New Monthly Contracts
23
15
53% d
28
Transactions Dollar Volume ($ in 000s)
NANTUCKET REAL ESTATE ACTIVITY THROUGH APRIL 2014 - 2024
Dollar Volume
# of Transactions
After historically low activity in March, the Nantucket real estate market rebounded in April to close 19 transactions totaling $50M. This is notably higher than the nine transactions that measured $38M in March but well below the five-year average of 34 transactions totaling $122M. April transactions brought year-to-date figures to 61 property sales amounting to $245M, a 0 percent change in the number of units sold during this time in 2023, but an increase of 13 percent in total dollar volume. New contract volume also showed a significant improvement during April with 23 new purchase contracts. Interestingly, price changes also doubled, suggesting current pricing isn’t aligning with buyers. On the inventory front, there were 180 properties publicly listed by the end of April, an increase of 55 percent from this time one year ago and perhaps why we are seeing an increase in price adjustments. Here are Fisher’s April Market Insights…
2023
Dollar Volume per Quarter
Q1
Q2YTD
# of Transactions
MONTHLY SALES HIGHLIGHTS
HIGHEST RESIDENTIAL SALE
HIGHEST COMMERCIAL SALE
LOWEST HOME SALE
$4,950,000
$1,425,000
$900,000
1 WALSH STREET MARKETED FOR [68 Days]
42-44 CENTER STREET #2 MARKETED FOR [4 Days]
1A PARK CIRCLE MARKETED FOR [125 Days]
(508) 228–4407 21 MAIN STREET, NANTUCKET, MASSACHUSETTS
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