The numbers are in for the month of January and the real estate market on Nantucket continues to perform well. There were 37 sales in January, for a total of $62,084,721, compared to 39 sales for $62 million in 2014 and only 12 sales for $27 million in 2013. Of the 37 sales, 8 were sales of vacant land, 25 were residential properties and 4 were commercial properties.
Top sale in January: 62 Hulbert Avenue, listed for $12,500,000 and sold for $10,875,000. The property was .45 acre with a fully renovated main house, guest cottage and pool and it had views of Nantucket Harbor.
Least expensive house sale in January: 65 R Miacomet Avenue, listed for $395,000, sold for $370,000 – Nantucket Housing Needs Covenant Property. The house has 1 bedroom and 1 bath with room for expansion. The lot was just under 5,000 square feet and the property was located in the Mid-Island area.
For the month of January he average selling price, as a percentage of list price, is now 94.32%. Properties are currently selling for 128.81% of the assessed value. The average time it takes a property to sell on Nantucket is now under 6 months, the lowest it has been in the past decade.