We find it helpful to take a look at trends in the market place to help identify where the market might be headed:
In November of 2017 the highest price ever was paid for a residential property on Woodbury Lane in Town, when 4 Woodbury Lane sold for $4,100,000. The property was on a .22 acre lot and had an updated 5 bedroom/6.5 bath home.
Also in 2017, the longest contiguous time on the market before selling: 8 Whitetail Circle, vacant land, sold for $900,000 in June 2017 after 2,725 days on the market – 90+ months or 7.5 years. Initially listed at $1,125,000 – 20% in price reductions since first listed. It was a 2.75 acre lot with distant ocean views.
The highest price paid in 2017 for a Naushop property was the sale of 78 Goldfinch Drive, a 5 bedroom/3.5 bath home on a 5,000 s.f. lot, selling for $1,387,500. At the time of sale the list price was $1,495,000 and the property was on the market for 410 days.
The highest price paid in Nashaquisset in 2017 was $1,345,000 for 13 Autopscot Circle a 3 bedroom/3 bath cooperative home. The highest price ever paid in Nashaquisset as $1,550,000 in 2005 just prior to the recession.
Sconset’s highest residential sales in 2017 were two properties, each of which sold for $7,500,000: 20 Sankaty Head Road, an oceanfront compound with 2.93 acres and a 5 bedroom/6.5 home and 91 Low Beach Road, 3.60 acres with a 7 bedroom/7 bath waterfront home. The highest price ever paid in Sconset for a residential property was the sale of 15 Baxter Road for $11 million in 2013.
And in Town there were two residential sales at $6,500,000 each, both located on upper Main Street (100 Main Street and 151 Main Street). The highest price ever paid for a residential property in Town was for 93 Main Street, one of the “Three Bricks”, which sold in 2007 for $10,500,000.