Three weeks into the New Year, the Nantucket Real Estate Market has yet to resume the torrid pace with which it ended 2012 as no transactions have been recorded for the second straight week. With only five closed transactions on the books through January 25, 2013, Nantucket real estate is on pace for the second slowest month on record (in March 2009 there were only four transactions). Some might be surprised, and even downright worried. However, it is too early to jump to the conclusion that this sluggish pace is evidence of a new trend. After all, the rush of transactions that we saw close prior to the end of 2012 may have been transactions which would have otherwise closed in 2013, were it not for the anticipated changes in the tax code. Nonetheless, the future of the economic and even political landscape remains unclear and it is possible that some of the momentum slowdown could be attributed to buyers and sellers waiting on the sidelines to see how the dust settles before making any moves. Stay tuned to Windwalker’s weekly real estate review to see when the tide may turn…
The following is the Nantucket Real Estate week in review for the week of January 19th, 2013 – January 25th, 2013:
0 Nantucket Property Transactions Closed:
3 Offers Were Accepted:
- Highest: 8 Coon Street most recently listed at $2,100,000
- Lowest: 97B Goldfinch Drive (small garage) most recently listed at $50,000
8 Coon Street – Town, Nantucket, MA
2 Purchase & Sale Agreements Were Executed:
- Highest: 3 Thurston’s Court most recently listed at $1,895,000
- Lowest: 110 Orange Street (first floor condo) most recently listed at $495,000
3 Thruston’s Court – Town, Nantucket, MA
9 Nantucket Properties Came to Market:
- Total Dollar Value: $17,135,000
- Highest Value: 92 Cliff Road listed at $5,495,000
- Lowest Value: 2 Sanford Road (Commercial Condo Units 1 & 2) listed at $595,000
92 Cliff Road – Cliff Area, Nantucket, MA
2 Price Changes Occurred This Week:
- Largest Increase: 10 Prospect Street - Increased 3.4% to $925,000 from last list of $895,000, but discounted 45.4% from original price of $1,695,000
- Largest Reduction: 52 Eel Point Road - Discounted 7.7% to $5,495,000 from original price of $5,950,000
10 Prospect Street – Town, Nantucket, MA
