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JPFCO

Nantucket Real Estate Updates

Aug 15, 2013       Issue: 257

J Pepper Frazier Company
Hulbert Avenue Summer Storms
 
 New Listings VIEW ALL

Jul 26, 2017

Cliff
$5,975,000

Jul 25, 2017

Town
$2,495,000

Jul 25, 2017

Town
$895,000

Jul 26, 2017

Middle Moors
$1,995,000
 
 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
  Nantucket Numbers

The market has been solid this year, but where does it really stand today compared to the last 4 years? Let's take a look:

Today, there are 501 available listings and 86 listings with accepted offers or under contract, which is 14.7% of all listings.

At this time in:

2009, there were 725 available listings and 35 listings with accepted offers or under contract, 4.6% of all listings.
2010, there were 720 available listings and 52 listings with accepted offers or under contract, 6.7% of all listings.
2011, there were 640 available listings and 54 listings with accepted offers or under contract, 7.8% of all listings.
2012, there were 560 available listings and 78 listings with accepted offers or under contract, 12.2% of all listings.

Those are encouraging numbers, but Sellers should not get over-bullish. Values have not moved much off of their lows of the recent bust, so the Seller that prices their property as if it were 2006 is going to see their property sit on the market.

This is a very important point I'm about to make. Listen to your real estate broker. Although you may think you are a Nantucket real estate professional, a (good) Nantucket broker knows the market better than you.

Volume for 2013 YTD is at approximately $321M, which is healthy. My prediction: with a little encouragement to Buyers to buy from rising rates and flush portfolios and Sellers' looming visions of frozen pipes and tumble weeds blowing by their properties, there is going to be strong action in the next 10 weeks.

But remember, if you are a Seller, listen to your broker; you don't want a frozen pipe for Christmas...
 
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RENTAL MARKET UPDATE
  Nantucket Adventures

A few other activities you might not have thought of to do while enjoying your time on Nantucket:

Stargazing: because of it's distant proximity to "major city lights" and lack of street lights, Nantucket star gazing is some of the best around. Don't let the balmy summer night stars go unwatched, look up!

Boat watching: The Nantucket boat basin is a a full-service marina that offers boat lovers a glimpse of everything from antique 12 meters to state of the art yachts. Spotted on Nantucket this summer have been a few celebrity owned floaters ranging up to 200 feet.

Investment finding: The island is a treasure trove of great investment opportunities, and our Agents have the map. Whether you are interested in buying, holding, and enjoying a second home while you watch your investment appreciate. Or perhaps adding rental income to your portfolio, opportunities abound on Nantucket. If this aspect of the island appeals to you, give your favorite J Pepper Frazier Real Estate Agent a call.
 
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FEATURED LISTING
25 Rugged Road $1,695,000

This private, spacious compound is situated on over three acres in a convenient to town and Surfside beaches location. There is a three bedroom main house with a bright and open layout, modern kitchen, full basement, including office, and an attached two car garage. There is also a detached custom barn large enough for boat storage with a one bedroom 1.5 bath apartment. Endless decks, outdoor areas, and organic gardens fully embrace this large parcel. Relax under the shade, grill on the backyard deck or stroll the property and take in the beautiful gardens and greenery. This private property has it all and is a must see!
  25 Rugged Road 
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NANTUCKET REAL ESTATE NEWSWIRE
» Cape Flyer a Success
» Glowacki Properties Sell for $30.6 Million
» Man Wrestles Shark to Nantucket Beach
» Blue Hill Bank to buy Nantucket Bank
 

NOTES FROM PEPPER THE ELDER
  Dizgusting

I don't need to be reminded, but, I am, nonetheless, with every Presidential visit to the Vineyard. Nantucket is great; The Vineyard is second rate. Bush League, if you will. Second rate towns: Oak Bluffs. Vineyard Haven. Second rate people: Vernon Jordan, Alan Derschowitz, and the late Ernie Boch, who in his present state is still more interesting than Harry Belafonte. I mean you can't even rent people this bad. Illy dressed people lining the streets, ice cream cones in hand, trying to get a glimpse of POTUS.

In Nantucket nobody cares and our hands grip mojitos, not mochas. Nantucket has spectacular moors; The Vineyard, grubby pine forests. And the restaurants. The restaurants on the Vineyard are indescribably bad. Truly dizgusting and in three out of the five towns you can't even eradicate the bad taste with booze. So think of someone you don't like and give him/her a ticket to the Vineyard.
 
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