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Al Capone

Not going to go into the opportunities, which there are many, around Hot Springs, Arkansas, the town where Al Capone was known to relax and President Bill Clinton worked, but hopefully I got your attention.

The market remains robust. Here is a perfect example of how robust and how the Nantucket real estate market stays robust over the long run. 51 Milk Street, a 1,565 sf 3 bedroom, 2.5 bath house built in 1992 on a 5,227 sf lot, sold for $254,500 on 6/2/94, then for $625,000 on 4/29/03, then, after landscaping and driveway improvements, for $1,225,000 on 10/26/05, then after some renovations, for $1,358,100 on 4/21/17 and now it is under agreement for, I’m guestimating, $1,950,000. Not much appreciation between ’05 and ’17, but each sale price surpassed the previous sale price. Over the long run, real estate values go up, especially on Nantucket.

YTD Sales Volume as of April 11 in $ mm’s
200969Lowest total yearly volume.
2010117
201186
2012109
201381
2014190$1bn+ year.
2015175
2016223
2017199$1bn+ year.
2018289$1bn+ year.
2019182$1bn+ year.
2020202$1bn+ year. Record year at $1.86bn.
2021376

I recommend strapping on your rocket boosters because this is going to be a wild ride…