FISHER’S
NANTUCKET REAL ESTATE
MAR ‘23 REVIEW
KEY MARKET METRICS
Market Insights BY JEN ALLEN 2023
ALL PROPERTY TYPES
5-YEAR AVG.
85
-47% f
86
$164,886
$267,061
-38% f
$220,455
Months on Market
2.7
2.7
0% r
5.4
Sale Price to Last Ask
99%
96%
3d
95%
Active Listings
97
68
41% d
92
Projected Absorption
3.0
1.4
119% d
6
New Monthly Contracts
15
28
-46% f
29
Dollar Volume ($ in 000s)
NANTUCKET REAL ESTATE ACTIVITY THROUGH MARCH 2013 - 2023
Dollar Volume
# of Transactions
Additionally, new contract activity during the month was just as strong as it’s been the last few years, signaling the market remains on solid ground and may well stay that way if real estate continues to be a haven for investors looking to diversify assets amidst unrest in the financial markets. Here are Fisher’s March Market Insights...
% CHANGE YOY
45
Transactions
First quarter Nantucket real estate transactions dropped to figures not seen since 2009 but signs continued to point to this reduction being driven by limited inventory given multiple bid situations and significant appreciation figures being posted. After a slower than typical start to 2023, March sales rebounded and first quarter activity totaled 45 transactions totaling $165 million in sales, a respective decline of 47 percent and 38 percent from 1Q22.
2022
YTD Dollar Volume
# of Transactions
MONTHLY SALES HIGHLIGHTS
HIGHEST RESIDENTIAL SALE
PROPERTY RESALE
MULTIPLE BID SALE
$7,750,000
$6,000,000
$4,195,000
4 SOPHIES WAY/21 PILGRIM PRIVATE SALE
25 ELLENS WAY PRIOR SALE $3.62M DEC. ‘20
14 PINE STREET SOLD FOR $5K OVER ASK
(508) 228–4407 21 MAIN STREET, NANTUCKET, MASSACHUSETTS
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