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| REAL ESTATE BUZZ |
Could've Been Better, Could've Been Worse
Although the year is not over, we have a pretty clear picture of how the overall market is going to end up. All things considered, not bad.
According to LINK,
For the period 1/1/11 through 11/30/11
-total volume was just under $481mm from 355 transactions
-average sale price was just over $1.57mm
-median sale price was just under $1.04mm
-average days on market was 255
For the period 1/1/10 through 11/30/10
-total volume was just over $610mm from 323 transactions
-average sale price was just under $1.89mm
-median sale price was $1.07mm
-average days on market was 251
The wide discrepancy between the total volume numbers is mainly because this period in 2011 had three 8-figure sales and this period in 2010 had eight 8-figure sales, which accounted for a little over $100mm in extra volume for 2010. What is encouraging is the median prices and days on market stayed roughly the same, which makes me believe that 2011 followed 2010′s trend of laying a bottom to the real estate market. There are still a lot of buyers on the sidelines that will jump in at any sign of the chaos in the world settling, which will give a nice bump to the market. |
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| RENTAL BUZZ |
Holidays and Rentals
Rentals and Holidays go together two fold. People love to celebrate all sorts of special occasions on Nantucket island. A holiday is a perfect excuse to vacation with family and friends, and Nantucket really goes all out. Currently downtown is swimming in Holiday greenery, kids with ornaments, and festive lights. Holiday rentals this year were up 15% over last year's bookings, and we continue to see many inquires for future special occasions.
So this holiday, after the presents have been opened and the meal has been eaten, why not start to plan your next holiday vacation, Nantucket style. |
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| NOTES FROM PEPPER THE ELDER |
A Quiz
Today we start a new feature: A trivia quiz. And not just any trivia, but important stuff like the names of the Ritz Brothers, Mr. Ed's tailor or, for that matter, Debbie Wasserman Schultz' hair dresser? Stuff with vast intellectual, not to mention National Security, implications. More later. Well it's Christmas time and that means I must be in Boca Grande, which I am. The place looks like it's hopping and that's good news for Nantucket, because the real estate markets mirror each other. In terms of a real estate recession, Nantucket is LIFO, last in, first out, and, therefore, a great real estate barometer. I maintain that people have plenty of money but are reluctant to spend it, thus it will be interesting to see the so-called holiday sales for Tiffany, Hermes, Coach etc. I bet they're strong.
Now. Drum rolls please. In the history of major league baseball, 38 players have stolen home 10 times or more in their careers. Two of them were teammates and great sluggers (not Ty Cobb). Name that tune. |
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