The month of June saw a total of 36 closed sales for $72.5 million. This compares to 44 sales for $94+ million in June 2014. The lower numbers are attributable largely to the weather this winter which prevented many buyers from traveling to the island. Additionally, the lower number of listings means that buyers have fewer choices than they did a few years ago during the height of the recession. We are finding that many buyers are willing to wait to find a property that works for them. Year to date there have been 182 sales for $312 million; in 2014 at the end of June there were 224 sales for just over $380 million. So, although the number of transactions is down, the price of an average house on Nantucket is on the rise. In June 2014 it was $1,708,000; it is now $2,044,000, an increase of nearly 20% in one year. We are very interested to see how the last two quarters of the year shape up.
The least expensive residential sale during the month of June was 5 Mary Ann Drive, Unit B, a condominium property with 3 bedrooms and 2 baths located in the Mid-Island area listed at $519,000 and selling for $500,000.
The priciest transfer was the sale of 3 Hulbert Avenue located in Brant Point, a waterfront estate with multiple structures on .71 acres, listed at $28,500,000 and selling for $26,500,000.