How Sales on Nantucket Break Down So Far This Year

We were curious to assess where we are now with the Nantucket real estate market as we are solidly in what are typically the slowest two months of the year for sales activity.  This year has been somewhat unpredictable with the number of sales down 35% at the end of Q1 compared to 2018.  This gap was closed somewhat by the end of Q2 to 20% and then at the end of Q3 improving again to 14% compared to the first 3 quarters of 2018.  We ran the number for all closed sales through October 31, 2019, by price sector, and it is interesting to note that the only sector with increased performance over 2018 is sales between $3 and $4M.  The average selling price of a property on Nantucket (residential, vacant land and commerical) is $2,090,000, down 6% from last year at this time.

For more specific information: Nantucket Sales Volume 2019 YTD to 10.31.19