Nantucket: Only 11 Houses on the Market for Under $1 Million

As of today there are only 11 residential properties listed for sale, with a minimum of 2 bedrooms (and that are not restricted for affordability) priced $1 million or less.  This is a very stark example of what the year-round community is facing in terms of affording to remain on the island.  Not long ago we were writing about how few listings there were under $750,000 with these same parameters.  We, as a community and a Town, have been talking about affordable housing solutions for decades and the market keep tightening, reducing the hopes of working class people for safe, affordable housing.  Some inroads have been made, primarily in the private, not for profit sector, which is more nimble than a municipality.  Housing Nantucket, which administers affordable rental housing and the Nantucket Housing Needs Covenant Program (80+ units) has been leading on the affordable housing scene for a number of years.  The Nantucket Housing Authority, which is partially funded by the state and federal governments, works tirelessly to help our residents afford to stay on island.  One of the more recent successful collaborations between the Town and a number of non-profits, including Habitat for Humanity, is the Sachem’s Path housing development located on Surfside Road. We need to keep working hard on creative solutions before the free market shuts the door entirely.

Houses Listed $1M and under 12.19.18

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