In our business, we are often asked to predict the future which, of course, any responsible real estate broker will not do. We rely on our market experience, information and professional knowledge to best estimate which way the market is heading. For over a year now we have felt the Nantucket real estate market slowly correcting. Basic economic principles support this: fewer distressed sales, declining number of listings and increased volume of sales – all of which predicate a rise in average selling values. Preliminary sales statistics are in for the 4th Q of 2012 and there were 63 sales in October for $105 million; 59 sales in November for over $95 million and a whopping 65 sales in December for over $123 million. The total number of sales in 2012 was approximately 504 for a a total of $823 million dollars. To put this in persepctive, in 2011 the total number of sales was 307 for $481,224,000. The third quarter alone in 2012 had $323,000,000 in sales. We can, with confidence, say that the bottom of the Nantucket Real Estate market is now in the rear view mirror. For which we are gratefuul.