Nantucket Real Estate Updates
J Pepper Frazier Company
A Bi-Weekly Newsletter About Nantucket Real Estate.
NEW LISTINGSView All
Nov 10, 2021
Nantucket Real Estate
Town
$975,000
Nov 9, 2021
Nantucket Real Estate
Brant Point
$2,495,000
Nov 6, 2021
Nantucket Real Estate
Mid Island
$1,395,000
RECENTLY SOLDView All
Nov 10, 2021
Nantucket Real Estate
Town
$2,575,000
Nov 10, 2021
Nantucket Real Estate
Surfside
$1,375,000
Nov 9, 2021
Nantucket Real Estate
Brant Point
$1,900,000
Nov 5, 2021
Nantucket Real Estate
Brant Point
$2,587,000

GROUND NOTES FROM DALTON
Proof is in the Pudding
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 $339 Lowest 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:-)

LET'S MAKE IT HAPPEN WITH PEPPER II
Getting Creative
Getting Creative
How thankful we are to live on the beautiful Island of Nantucket!

As more and more people realize how wonderful it is to live on island, the inventory continues to diminish. Making it happen in these market conditions is all about creativity; creating new inventory while getting the best deal for our Sellers and Buyers.

Recently, there was a piece of vacant land that the Seller wanted a record price for in the neighborhood. We had a Buyer wanting to be in the neighborhood. To avoid the mark up of a spec builder, team JPFCO linked the Buyer with a builder cutting out the middle man. The Seller received their record price and the Buyer was able to get into the market under the current market value. Creatively making it happen 24/7 365 at JPFCO.

Happy Thanksgiving everyone!
RENTAL MARKET UPDATE
Halloween 2021 and The Return of Scallop Season!
Halloween 2021 and The Return of Scallop Season!
It was another amazing October on Nantucket. In addition to the perfect weather, extended summer temperatures, and emerging fall foliage, locals were reunited with a few of our favorite fall traditions. The Island Cup was held on Nantucket after a year moratorium due to COVID and concluded in a Whaler W! Cheering on the team as a community was something special to see.

Later that same day, town came alive as the annual Halloween parade made its triumphant return to the Cobblestones. The event was highly anticipated and did not disappoint, as mild temperatures and beautiful weather brought masses of islanders to trick or treat at the various town establishments. Just how busy was it? JPFCO went through 7,000 pieces of candy in 90 minutes. Not too shabby, eh?

This past month also marked the return of the Nantucket scalloping season. Known for their petite size and sweet taste, Nantucket scallops are often noted as some of the finest in the world. Luckily for us, they're right in our backyard.

While commercial scalloping season begins November 1st, the local season begins a month prior and runs until the end of March 2022. After obtaining a recreational scallop license and donning an assemblage of specific equipment, it's off to the water for locals looking to earn their dinner! Monomoy and Madaket are known as the typical hot-spots for the most successful scallop outings, but this can vary each year.

Scalloping is a beloved and popular island pastime for JPFCO agents as well. Our principal brokers Dalton and Pepper, as well as agent Roy Weedon have ventured out a few times this month with great success. Perhaps office-wide scallop lessons are in our future!

If you aren't on island during this season, or if you've found yourself without a wetsuit and craving a taste, we are fortunate to enjoy bay scallops at several island restaurants who have perfected the particular art of cooking them perfectly. From bacon-wrapped at The Lobster Trap to deconstructed scallop chili at Dune, you can find them just about anywhere and in any style of cuisine.

If you're joining us for Thanksgiving or Stroll, be sure to sample a few bay scallops to complete your Nantucket fall experience! It's not too late to book a Nantucket vacation rental for both Thanksgiving and Stroll. To learn more about our remaining availability for the holidays, please call our office at (508) 228-3202, reach out to your JPFCO agent, or contact our rental manager Claire at rentals@jpfco.com

Have a great Thanksgiving everyone!
FEATURED LISTING
5 Beaver Street - $3,950,000
5 Beaver Street - $3,950,000
"Seven Gables" is a stunning complete renovation featuring over 4800 sqft of glamorous finished living space located in the Residential Old Historic District. Situated on an over-sized lot with a spacious garage studio, this is truly a unique offering. The entire property has been painstakingly renovated from the ground up. Many of the original details have been preserved and returned to their former glory. Only the highest end materials have been used throughout the renovation process. An addition was added to the original house with brick friendship stairs leading to a private blue-stone patio and yard perfect for spring, summer and fall enjoyment.
5 Beaver Street →
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One of the oldest and most experienced Nantucket real estate firms
JPFCO | 19 Centre Street Nantucket, MA 02554

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