Nantucket real estate market update - May 15, 2007
Wednesday, May 16th, 2007Brian-Logan Reid, Broker
(Starting today but recurring every month on the 15th, I will post a short market update…so stay tuned and subscribe!)
This is the largest inventory that I’ve seen and prices are softening a little bit, albeit from rather overpriced levels anyway. I would advise my seller clients who do not necessarily need to sell, to not list their home at the moment to avoid adding to the bloated inventory. My buyer clients, on the other hand, have ample choices and are taking their time comparing properties. This upcoming weekend (Wine Festival) and next weekend (Memorial Day/Figawi Race) tends to bring in the spring buyers, so it should be a good indication of the next few months.
- 523 - Total listings on the market
- 353 - Single family dwellings
- 18 - Multi-family dwellings
- 40 - Condos
- 5 - Co-ops
- 16 - Commercial properties
- 91 - Vacant land listings
Properties under agreement:
- 45 - Total properties under agreement
- 18 - Properties with Accepted Offers
- 27 - Properties with executed Purchase & Sale Agreements
If you would like to view all the properties listed for sale, send me an email (bl@countryvillagere.com) with your full name and I’ll grant you access to our LINK multiple listing service.