In December 2008, there were 628 total properties listed and out of those, 17 had accepted offers or were under agreement, 2.7%. In December 2009, there were 630 total properties listed and out of those, 33 had accepted offers or were under agreement, 5.2%. In December 2010, there are 593 total properties listed and out [...]
Bank owned properties, known as REOs (real estate owned), on Nantucket mostly present excellent values. Although they are few and far in between on Nantucket because most homeowners have enough holding power to get them through this lean time, if you can find one and it is in an area you like, you should take [...]
As we all know, interest rates are at historic lows and will inevitably go up some day-maybe not in the next few months, but probably within the next 12 months. So, if you buy a $1MM property now, put 20% down and lock-in a 4.5% 30-year fixed interest rate, your payments will be $4,053.48/mnth. If [...]
A magnificent 9.2 acre water front piece of vacant land in one of Nantucket’s most sought after locations, 0 Chase Links, just received an accepted offer. We won’t know at what price a deal is being made until the deal closes, but I bet it is within 15% of the asking price considering the property [...]
30 Washing Pond Road closed today for $20MM. The asking price was $23.95MM and the property was on the market for 45 days before getting an accepted offer. The “smart” money is buying Nantucket real estate, which is a great sign that Nantucket real estate is currently being viewed as a strong value/investment by very [...]
On the front page of this week’s edition of Nantucket’s newspaper, the Inquirer and Mirror, was the headline “Real estate rebounds”. The quick stats are dollar volume for first three quarters was $444.5MM, 87 percent higher than first three quarters of last year, and is on track to hit over $600MM for the year. September [...]
According to LINK, Nantucket’s MLS system, $448,895,872 total Nantucket real estate volume closed in the first three quarters of this year with an average days on market of 251. This is compared to $237,308,238 total Nantucket real estate volume for the first three quarters of ’09 with an average days on market of 223. I’d [...]
The Nantucket Real Estate market continues to gain strength. Listings that are currently posted on the MLS as having accepted offers or purchase and sales agreements equals 9.8% of the total property listings. This is up from 8.5% one year ago. So, the market is 15% stronger than it was one year ago at this [...]
It was a monster week for Nantucket real estate sales. The week ending Thursday, September 23 had a little over $65MM in total real estate volume. What is very encouraging is that there were deals across all price ranges including a huge one for $22MM that sold with an abutting parcel for $5.5MM, to a [...]
11 and 16 Cathcart Road located on Nantucket’s prestigious harborfront location just had a price reduction from $38.5MM to $29MM. The properties were originally priced at $55MM, which everyone knew was an astronomical asking price. Now, the Seller is getting into the realm of market value. Will update with any developments. Until next time Nantucket [...]
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