Nantucket Real Estate: Market Update April 2022

Dune Grass and AtlanticThe wild market ride continues with low inventory (although improved from Q1) and seemingly endless demand on the part of buyers.  Through April there have been 147 sales, year to date, on Nantucket representing $483+ million.  At the same time in 2021 there had been 233 sales ($601+ million); in 2020 – 103 sales ($238+ million) and, perhaps most instructively, in 2019 – 123 sales for $288+ million.  The effects of the pandemic hit squarely in Q1 of 2020, followed by an unprecedented market escalation for the last two years.  Although the pace of sales appears to moderating, somewhat, the dollars continue to rapidly climb.

Total sales dollars for the month of April were $206,794,000, down from $250,615,000 at this time last year but still 80% higher than the $43,459,000 in April 2020 at the beginning of the pandemic.

Nantucket Real Estate APRIL 2022