Country Village Rentals and Real Estate Weblog » Nantucket Real Estate

Nantucket real estate vs. the stock market

Heather — Mon, 17 Nov 2008 19:11:58 +0000

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.

Nantucket real estate market update – June 14, 2007

Marion Roland Conley — Thu, 14 Jun 2007 17:19:54 +0000

By: Brian-Logan Reid, Broker

Well Wine Festival and Memorial Day/Figawi came and went and the inventory continues to grow, despite a handful more properties going under agreement.

The entry level of the market, those properties under $1mm, appears to be growing in size and I anticipate some price softening as properties stay on the market longer and the would-be buyers who need financing will find it more difficult to secure affordable financing as lenders tighten up their standards.

The middle of the market, those properties between $1.5mm and $4mm, still shows strength, but only those properties that are priced correctly from the time they get listed; those properties that have been price reduced from inflated levels are not seeing the same action.

As may be expected, the upper end of the market, those properties over $5mm, looks to be growing in strength as buyers of these types of home buyers tend to purchase without financing and they have enjoyed gains in their other asset portfolios here in the US and abroad.

Breakdown of Properties		May 15, 2007			June 15, 2007
Single Family		353			400
Multi-Family		18			18
Condos		40			39
Co-ops		5			7
Commercial		16			17
Vacant Land		91			98
Total Properties		523			545
Properties Under Agreement
Accepted Offers		18			29
Executed Purchase & Sales		27			26
Total Under Agreement		45			55
Year To Date Statistics	Houses		Land	Commercial		Totals
Total Transactions	113		25	1		139
Total Dollar Value	$237,433,000		$48,999,000	$1,579,000		$288,011,000
Median Price	$1,495,000		$1,000,000	$1,960,000		$1,495,000
Average Price	$2,101,000		$1,960,000	$1,579,000		$2,072,000
Percentage of Assessed Value	127.25%		166.60%	153.65%		134.11%
Percentage of Asking Price	93.17%		89.42%	100%		92.90%

Please feel free to contact me if you or someone you know would like to discuss acquiring a Nantucket property.

Nantucket: Top 10 Sales of 2007 to date

Marion Roland Conley — Wed, 18 Apr 2007 20:16:12 +0000

#1 $11 million 36 Burnell Street Vacant lot/8.8 acres

#2 $9.1 million 77 Low Beach Road House/2.9 acres

#3 $8.95 million 248/250 Polpis Road House/1.2 acres

#4 $8.9 million 24 Washing Pond Road House/1.2 acres

$5 $8.4 million 33 Low Beach Road House/.82 acre

#6 $7.425 million 47 Pocomo Road Vacant lot/3.07 acres

#7 $5.625 million 27 Brewster Road House/1.5 acres

#8 $5.3 million 118 Main Street House/.40 acre

#9 $5.25 million 5 Eat Fire Spring Road House/2.8 acres

#10 $4.83 million 12 Galen Avenue House/.15 acre

Average House Sale Price $2.85 million– year to date

Average Lot Sale Price $1.9 million–year to date

source: The Nantucket Independent / www.acknews.com