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JPFCO

Nantucket Real Estate Updates

Aug 11, 2020       Issue: 442

J Pepper Frazier Company
A Bi-Weekly Newsletter About Nantucket Real Estate.
 
 NEW LISTINGS VIEW ALL

Sep 8, 2020

Miacomet
$4,025,000

Sep 8, 2020

Nashaquisset
$1,695,000

Sep 7, 2020

Nashaquisset
$1,595,000

Sep 7, 2020

Town
$2,495,000
 
 RECENTLY SOLD VIEW ALL 

Sep 4, 2020

Town
$3,850,000

Sep 4, 2020

Town
$2,350,000

Sep 4, 2020

South of Town
$2,225,000

Sep 4, 2020

Surfside
$1,750,000
 

GROUND NOTES FROM DALTON
  Rocket Fuel

What happens when rocket fuel is added to a strong market – the market goes BOOM!

What's the rocket fuel?
The tangibles are: low interest rates, low inventory, decreasing supply of potentially available inventory, etc.
The intangibles are: appreciating the value of time, being isolated, confirmation that remote work is an option, etc.
This year is more than likely going to be a record year.

Year over year comparison of YTD total volume:

'09 – $161mm *Lowest total yearly volume.
'10 – $272mm
'11 – $260mm
'12 – $332mm
'13 – $290mm
'14 – $453mm *$1bn+ year.
'15 – $425mm
'16 – $484mm
'17 – $499mm *$1bn+ year.
'18 – $534mm *$1bn+ year. Highest total yearly volume.
'19 – $494mm *$1bn+ year.
'20 – $476mm


Some tangible rocket fuel to cap it off – there are currently $450mm of marked pending sales and it's August 11th...
 
 

LET'S MAKE IT HAPPEN WITH PEPPER II
  Keeping The Peace

Summer time! Oh how we love it when hustling is part of the program for Nantucket real estate brokers making it happen.

While so many come to the island to kick off their shoes, enjoy the finest cuisine, beaches, and the best weather in the country, we the Nantucket brokers are working overtime to keep the peace and deals churning. While trying to avoid disrupting people's vacations, the deals must go on; giving some to get some is a way of life!

Recently, we had a tenant that really did not want to be disturbed, yet we had to show the house. We approached the tenant and asked what they really liked to do on the island. The tenant said eat and fish.

Go figure, who doesn't!

Time to make it happen JPFCO style. We lined up a top tier charter and a five star restaurant. The tenant caught their fish and we arranged for the restaurant to cook it! We in turn showed the house, put it under agreement, and the summer goes on.

Enjoy the beautiful island!!!
 
 

RENTAL MARKET UPDATE
  Preparing for Fall

August on Nantucket is as busy as ever! Normally we start winding down by the end of this month and early September, but this year it appears to be different.

With the uncertainty of schools reopening, businesses going totally remote, and cities not as vibrant as they once were, families are now wanting to stay on Nantucket for extended periods of time.

September just may be the new August!

With that being said, J Pepper Frazier Company has an extensive rental program that offers available properties for both fall and long-term rentals. It's not too late to book! With so many uncertainties in the world, and the ever-changing landscape ahead, it's wonderful to know Nantucket is as lovely as you've always known it to be.

In the spirit of change and transition, we would like to welcome our new rental manager Claire McElwain. For any rental inquiries, please contact her at rentals@jpfco.com.
    JPFCO Rentals  
 
FEATURED LISTING
12 Shell Street $1,995,000

Charming cottage constructed in 2017 located in the heart of the village. Offering modern amenities including central air, wood stove, spacious kitchen, radiant heat and cathedral ceilings. Three floors of finished living space with four bedrooms, three and a half baths, including second floor master suite overlooking the historic village, multiple living areas, off street parking and wraparound porch. Excellent rental history averaging $65k annually. Not to be missed.
  12 Shell Street 
 
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One of the oldest and most experienced Nantucket real estate firms
JPFCO | 19 Centre Street Nantucket, MA 02554

Call Us: (508) 228-3202