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And the Lights Went On

The rental and sales markets have been on serious roller coaster rides. When the virus hit, there were a ton of rental cancellations and multiple sales deals fell through. Then, June 8th came, the governor announced short-term rentals were allowed and there was an unprecedented surge of demand, especially for longer terms than usual and pools. Then, in the last few weeks, between pent up demand, low interest rates, decent stock market, the realization that a lot of people’s work can be done remotely and the desire to be on Island, the sales market caught on fire and is still blazing. In the last three weeks, at least $225mm worth of property went under agreement. Considering that a $1bn year is considered a strong year, that is astonishing…

Expectations are everything. When you step forward, you expect your foot to go forward. But, a whirlwind comes and your foot doesn’t step forward, it steps somewhere where you weren’t expecting, but hopefully somewhere great.

I was expecting Stidham to start for the Pats, which I was pumped about, but felt a bit lackluster. A whirlwind came to expectations and now Cam Newton’s in New England and we’re fired up about the season – bring it!!!

How anything, everything can change so quickly. Maybe expectations aren’t everything…

Year over year comparison of YTD total volume:

’09 – $139mm *Lowest total yearly volume.
’10 – $250mm
’11 – $223mm
’12 – $287mm
’13 – $256mm
’14 – $393mm *$1bn+ year.
’15 – $330mm
’16 – $426mm
’17 – $408mm *$1bn+ year.
’18 – $487mm *$1bn+ year. Highest total yearly volume.
’19 – $423mm *$1bn+ year.
’20 – $344mm