Nantucket Real Estate: 1st Quarter 2017


The real estate market stumbled a bit in the first quarter of 2017, due largely to a number of listings and sales in the lower price ranges.  Of the 104 sales to date this year 35% of them were under $1 million and only 3 sales were over $5 million.  This is not an unusual pattern for this time of the year and it resulted in the total sales dollars being down 8% compared to 2016 at the same time.  The total number of sales was down 14% compared to the same quarter last year.  However, pending sales activity continues to be robust with 47 properties under contract, ranging from a townhouse unit in Madaket (listed for $299,000) to a waterfront compound in Sconset (listed for $8.5 million).  AE Market Update 1st Q 2017