Nantucket: June Summary of Real Estate Activity

Chairs overlooking harborWe are halfway through the year and it is quite a different story in the real estate market than it was one year ago.  Most significant is that demand is far outstripping supply of properties which, of course, has contributed to rapidly escalating prices.  What remains to be seen is whether or not this is just a “pandemic recovery related bump” or if this market is here to stay for some time.  The good news is that the number of new listings coming on the market is steadily increasing which should alleviate some of the pressure. Again, buyers who do not need financing and who are able to make a fast decision are in the best position amongst the competition right now.  We continue to see multiple offers, some of them without any contingencies, for new quality listings.

The month of June saw 76 new listings, 24 Offers to Purchase, 39 Purchase & Sale Agreements and 63 sales.  Sellers are firmly in the driver’s seat in the current market.

Pace of Sales 6.30.21