Nantucket real estate vs. the stock market
By Wendell C Jones–Broker, Country Village Real Estate
Nantucket real estate is being sold, even in this down market. Though there are some good deals to be made, overall, property values are being maintained. Year-to-date, median sales prices are down only slightly to $1,460,000 from $1,495,000 in 2007. That is a decrease of only 2.3%. The average sales price is actually up from $2,052,000 in 2007 to $2,241,000 YTD 2008. That is an increase of 9.2%. You probably cannot say the same about your retirement account or any other account that you may have where any significant portion is invested in the stock market. Nantucket real estate. Maybe this should be your next investment since it seems to be holding its value despite the chaos in the equities.