Continued good news on the real estate front: With the strength of the financial markets, the decline in the real estate inventory on Nantucket, and rising consumer confidence, it appears that 2013 will be another solid year towards market recovery. Last year ended up being the strongest year for real estate since 2007 with 510 sales representing over $839 million in sales dollars. The market is shifting to one of shrinking supply and rising demand.
Average and Median Prices are on the Rise: At the previous height of the market, the average selling price of a Nantucket property was $2,316,000. At the end of 2012 it was $1,574,500; at the end of 2011 it was $1,532,000.