With four months of the year on the books, we are happy to report that the Nantucket real estate market continues to strengthen. For the past five years the first quarter sales represent and average of 20% of the total sales in those years. If this trend continues for 2010, and we have reason to think it will not, then this year should see well over $500 million in property transfers. We track pending sales and are happy to report that the number of dollars is on the rise with over $60 million in pending sales as of the end of April. The 3rd and 4th quarters are the strongest ones for Nantucket real estate sales and we are sure that this year will be no different. We have been telling buyers that now (and then) was the time to buy for the past 2 years and it appears that the market is turning. We are enthusiastic about this summer and, if you have been waiting to jump in, we encourage you to do so as we have never had such broad quality inventory, in a variety of price ranges, and sellers who are more realistic than they have been in years. An added bonus is the lowest interest rates in decades.
