The numbers are in for January 2016 and there were 49 sales for a staggering total of $93,569,000. For perspective, the total dollars in ALL of 2015 came in at $882 million. The number of sales in January increased 34% over 2015 and the dollars represented by these sales was up 36%. There has never been a January with numbers this high since we started tracking the real estate market. What does this mean? It could be that the financial world was generous with year-end bonuses; that people have confidence in investing in Nantucket real estate and that they realize that the market lows following the recession are well behind us. Nationally unemployment is at 4.9% and dropping and interest rates remain low. On Nantucket there has been a statistical pattern since 2009 of the market climbing in even numbered years and pulling back in odd numbered years. Activity in January would certainly indicate that this year may continue to be true to that trend.
Monthly Sales Report – 2016-01