FISHER’S
NANTUCKET REAL ESTATE
JUNE ‘24 REVIEW
KEY MARKET METRICS
Market Insights BY JEN ALLEN 2024
ALL PROPERTY TYPES
% CHANGE YOY
5-YEAR AVG.
102
116
-12% f
177
$443,487
$433,841
2% d
$527,551
Months on Market
3.1
3.2
-3% f
7.9
Sale Price to Last Ask
95%
97%
-2 f
95%
Active Listings
221
116
91% d
204
Projected Absorption
9.5
3.9
144% d
6.0
New Monthly Contracts
33
37
-11% f
42
Transactions Dollar Volume ($ in 000s)
NANTUCKET REAL ESTATE ACTIVITY THROUGH JUNE 2014 - 2024
Dollar Volume
# of Transactions
We’ve officially closed the books on the first half of the year and, thus far, June was the best transaction month with 20 property transfers totaling $126 million. It was also the first month of the year to officially surpass the $100 million mark, something that was far more common in recent years. June transactions included another mega high-end sale with the $24 million sale of 42 Shimmo Pond Road. While not the highest property sale on record for 2024, it marks the second transaction above $20 million, which is on par with the average for this price point over the last five years. All told, the first half of the year tallied 102 real estate transactions totaling $443 million, a respective decline of 12 percent but a rise of 2 percent from the same figures one year ago. The month of July typically marks the annual peak of property inventory for our local market so we will see if the 221 properties on the market grows from here or starts to dwindle as transaction activity picks up. Here are Fisher’s June Market Insights…
2023
Dollar Volume per Quarter
Q1
Q2
# of Transactions
MONTHLY SALES HIGHLIGHTS
HIGHEST RESIDENTIAL SALE
HIGHEST RESIDENTIAL RESALE
FULL PRICE SALE
$24,000,000
$6,995,000
$2,925,000
42 SHIMMO POND ROAD MARKETED FOR [54 Days]
20 WEST CHESTER STREET SOLD FOR $6.7M IN 2022
35 KING STREET MARKETED FOR [6 Days]
(508) 228–4407 21 MAIN STREET, NANTUCKET, MASSACHUSETTS
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