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Proof is in the Pudding

Amid heavy losses because of Zillow’s inaccuracy in determining real estate values, Zillow is shuttering its iBuying arm, Zillow Offers, proving that real estate brokers are worth every penny of their commission. I have heard countless times from buyers and sellers, Zillow says the property is worth this, so it has to be worth that. Granted sometimes Zillow is fairly accurate, but I tell them Zillow can’t possibly determine the value as accurately as I can. For instance, does Zillow know there is a view easement? Does Zillow know there is about to be a zoning change? Does Zillow know that the property is surrounding by roosters on all sides? Thank you, Zillow.

Market continues to fire… With $1.882bn already closed from 624 transactions and at least another $324mm in the pipeline, the market is well on its way to surpassing the $2bn mark in a year for the first time ever. Another interesting stat is that over 50% of all active listings on LINK, Nantucket’s MLS, are under agreement, which is the first time I’ve ever seen that.

YTD closed as of November 10th in mm’s
2009$339Lowest total yearly volume.
2010$574
2011$424
2012$633
2013$630
2014$842$1bn+ year.
2015$727
2016$838
2017$917$1bn+ year.
2018$940$1bn+ year.
2019$811$1bn+ year.
2020$1,400$1bn+ year. Record year at $1.86bn.
2021$1,882$1bn+ year:-)