FISHER’S
NANTUCKET REAL ESTATE
JUNE ‘23 REVIEW
KEY MARKET METRICS
Market Insights BY JEN ALLEN
ALL PROPERTY TYPES
2023
off a strong second quarter. Sales were led by the highest Nantucket real estate sale in history, a number that keeps drifting toward $40 million, with the $38 million sale of a waterfront property in Monomoy. June sales brought year-to-date
5-YEAR AVG.
207
-44% f
192
$433,841
$692,600
-37% f
$544,364
Months on Market
3.2
2.8
14% d
4.9
Sale Price to Last Ask
97%
97%
0 r
95%
Active Listings
116
143
-19% f
195
Projected Absorption
2.3
2.0
14% d
7.1
New Monthly Contracts
37
29
28% d
42
Dollar Volume ($ in 000s)
estate market surpassed $100 million, capping
% CHANGE YOY
116
Transactions
For the second month in a row, the Nantucket real
2022
figures to $433 million through 116 property sales, a decline of 44 percent in transaction volume and 37 percent in dollar volume from one year ago. For perspective on the rise in property values over the
NANTUCKET REAL ESTATE ACTIVITY THROUGH JUNE 2013 - 2023
last five years, cumulative dollar volume in 2023 approximates the total from 2018 when there were
real estate market is still humming along. Limited inventory has been the gift that keeps on giving (for
Dollar Volume
a significant rise in interest rates, the Nantucket
# of Transactions
100 fewer transactions for the same period. Despite
current owners!) to propel property values to record heights. And we haven’t seen that slow down just yet… Here are Fisher’s June Market Insights.
Dollar Volume per Quarter
Q1
Q2
# of Transactions
MONTHLY SALES HIGHLIGHTS
HIGHEST SALE
RESIDENTIAL RESALE
OVER-ASK SALE
$38,127,500
$5,250,000
$3,500,000
21 BERKELEY AVENUE MARKETED FOR [343 Days]
146 SURFSIDE ROAD SOLD FOR $1.72M IN 2013
3 MASAQUET AVENUE SOLD $400K OVER ASKING PRICE
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