I may not be a fortune teller, but I know Nantucket real estate.
Sure enough my prediction that the four, elevated acres in Monomoy would have an accepted offer by this column rang true-only took four days. Apparently, there were actually multiple bids. That is a sign of a healthy market-put an appropriate ask on the property and there will be bids. So, where does the market stand today compared to the last few years.
Today, there are 338 available listings and 56 listings with accepted offers or under contract, which is 14.2% of all listings.
At this time in:
2012, there were 431 available listings and 50 listings with accepted offers or under contract, 10.4% of all listings.
2011, there were 455 available listings and 47 listings with accepted offers or under contract, 9.4% of all listings.
2010, there were 530 available listings and 32 listings with accepted offers or under contract, 5.7% of all listings.
2009, there were 535 available listings and 15 listings with accepted offers or under contract, 2.7% of all listings.
Notice a trend?
Out of curiosity, I looked at a post I wrote exactly one year ago. Here’s a link to it:
On second thought, maybe I am a fortune teller…