Summer is here in full force and we had a beautiful 4th of July weekend. The island was busy and the fireworks went off without the usual fog. There are lots of new restaurants to try and some great new little shops as well. The island is busier than it was last summer; rentals are up about 30% from last year which bodes well for a strong selling season this year.
The Nantucket real estate market continues to climb out of the recovery with the number of sales in the first half of the year up 12% over 2010. The dollars that those sales represent were down about 10% due largely to the languishing foreclosure and bank‐owned inventory at the lower end of our market. Last year ended up being a much better year than 2009 with the number of sales and dollars up by 53%. We are currently on track to match or exceed the 2010 market. MARKET NEWS SUMMER 2011