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JPFCO

Nantucket Real Estate Updates

Jul 1, 2013       Issue: 254

J Pepper Frazier Company
the Beach
 
 New Listings VIEW ALL

Jul 26, 2017

Cliff
$5,975,000

Jul 26, 2017

Town
$4,945,000

Jul 25, 2017

Town
$2,495,000

Jul 25, 2017

Town
$895,000
 
 Recently Sold VIEW ALL 

Jun 22, 2017

Mid Island
$930,000

Jun 26, 2017

Town
$5,585,000

Jun 26, 2017

Cliff
$2,450,000

Jun 16, 2017

South of Town
$325,250
 

GROUND NOTES FROM DALTON
  Party like it is 2006?

Well, the market is definitely improving. I mean, just look at these stats.:

On 6/30/09, 680 properties on the market,
20 properties under agreement.
On 6/30/10, 652 properties on the market,
38 properties under agreement.
On 6/30/11, 596 properties on the market,
39 properties under agreement.
On 6/30/12, 526 properties on the market,
59 properties under agreement.
On 6/30/13, 452 properties on the market,
76 properties under agreement.

That is a serious trend showing an improving market. Some may say the market is heating up too quickly, but a huge difference between this market and the last boom market is the buyers can actually afford the properties.

So, is it time to start partying like it is 2006? Not quite. Values have definitely not recovered to pre-bust levels; they are actually far off their peaks. If you are a Seller, be wary of pricing your property too high because you think the market has fully recovered. Properties are selling, but not ones that are overpriced. If you are a Buyer, you should probably think about buying soon because values are starting to go up.

So, party like it is 2013!
 
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RENTAL MARKET UPDATE
  The Rollerboards are here

Although it is a rainy start to our first official week of summer, it is a very, very busy beginning. The shops are open, the restaurants have posted their new menus, and the houses have been spring cleaned. There is a new bike path to be explored, many summer festivals, events, and a holiday to be enjoyed, as well as a new 2013 memories to be made. The season is off to a good start!

We overhear the visitors on the cobblestones all the time; a common theme is how many things on this island stay the same. Part of the draw of the island, we are sure. People come and enjoy their experience, and then want to come back for more of the same lovely experiences. There are a few tweaks each year, new grocery store, possibly some new parking, and definitely some new friends, but the island's beauty and charm stays the same.

SO, if you haven't yet made your Nantucket plans for this year, give us a call, and come experience or re-experience all that Nantucket has to offer!
 
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FEATURED LISTING
108 Cliff Road $4,695,000

Fantastic opportunity to own a newly renovated 5 bedroom 5.5 bathroom house on Cliff Road abutting Westmoor Lane. This 1920's Gambrel style house has been completely modernized with many upgrades including a full finished lower level and roof walk with great views. This house has been crafted with many beautiful details including cathedral ceilings, ship lap walls, stone fireplace, and gourmet kitchen. It is being offered fully furnished.
  108 Cliff Road 
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NANTUCKET REAL ESTATE NEWSWIRE
» Downtown Nantucket Stop & Shop Grand Opening
» Nantucket Film Festival opens to sell out Crowds
» Hyannis Harbor Dredging set to begin on Friday
» Smith's Point closed to vehicles
 

NOTES FROM PEPPER THE ELDER
  Good burghers

I got to thinking the other day. Enough with the wise cracks. Nantucket has more top flight restaurants than the Vineyard and Cape Cod combined; in fact maybe two or three times more. I've never found a decent spot on the Vineyard. This compounded by a total assault on your senses with three of its five towns being dry. The food may be lousy but you can't even get drunk. A clear affront to my impeccable upbringing.

I'm going to let somebody else do the talking; to wit: last week's Sunday Globe travel section lead paragraph: "You could wing it, have nary a plan, and still have a fine time on Nantucket. Hop off the ferry; roam the town; pop into a restaurant or two. We've done it that way. But a serendipitous getaway won't get you the best of what the 'Grey Lady' - named best island in the world last year by National Geographic - has to offer. For that, you need to narrow in on a plan: Looking for romance? Love history? Crave adventure? Here are three ways to do Nantucket." The Globe then goes on to describes the three venues, but, of course there are many more than three.

When it comes to knowing islands, I would not accuse the good Burghers at National Geographic of being dilettantes.
 
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