Nantucket Real Estate News Nov 12, 2024

Nantucket Real Estate Updates

Puzzle

The Nantucket codes, rules and regulations are so dynamic, they make so many properties a puzzle, that if solved can unlock windfalls of both financial and lifestyle value. There are over 20 zoning districts, over 100 either allowed, not allowed, allowed with special permit, allowed as an accessory use and/or may be allowed in Formula Business Exclusion District uses – yes, you read that right, may or may not be allowed use in the Formula Business Exclusion District! Tie all that in with complying with the Historic District Commission, the Conservation Commission, Massachusetts Endangered Species Act, Health Department, Building Department, overlay districts, etc. and properties become more complicated than meets the eye. Having a deep understanding of how all of this works solves the puzzle. I love puzzles.

Market remains healthy. 2024 is the eighth year in a row the market has passed the $1bn threshold for total volume. I have a feeling the trend will continue.

Year	YTD Closed as of July 10th in MM	Notes on Annual Volume
2009	$339	Lowest Total Yearly Volume
2010	$574
2011	$424
2012	$633
2013	$630
2014	$842	$1B + Year
2015	$727
2016	$838
2017	$917	$1B + Year
2018	$940	$1B + Year
2019	$811	$1B + Year
2020	$1,400	$1B + Year
2021	$1,882	Record Year at $2.33B
2022	$1,347	$1B + Year
2023	$1,031	$1B + Year
2024	$1,166	$1B + Year

Firing On All Cylinders

Deals are coming together with the help of Team JPFCO and years of experience -- ACK all the way.

A Buyer wants a property that is twice as much as they can afford today, but know that within two years, they'll be able to afford it. It's all about the paper..time to make it happen. Team JPFCO approaches the Seller with an idea for a deal: 50% now and 50% holding paper in first position, plus interest with a balloon payment in two years. The meeting of the minds is met and another deal is set.

The water is green, the scallops are sweet, and we hope everyone is enjoying the good life.

Celebrate the Holiday Season on Nantucket with JPFCO

As the island transforms into a winter wonderland, experience the spirit of the season from our charming cobblestone streets to the annual Christmas Stroll, which brings an extra dose of holiday cheer. Nantucket's Christmas Stroll is one of Nantucket's most beloved traditions, celebrating its 50th year and promising festive activities that bring families and friends together from all over. Witness as Santa arrives by Coast Guard boat, visit one-of-a-kind shops, and enjoy carolers, entertainment, and even a special Festival of Trees at the Whaling Museum.

There's no better way to experience Nantucket's holiday magic than staying in one of our beautiful rental properties. Whether you're planning a weekend getaway or a weeklong celebration, our team at JPFCO is here to make your holiday stay effortless. Rentals are still available, and we're ready to help you find the perfect place for your seasonal escape, from cozy in-town homes to scenic waterfront properties.

With accommodations booking up fast, we encourage you to secure your reservation today! Reach out to us at JPFCO, and let us help make this Nantucket Noel your most memorable holiday experience yet.

Ready to join in on the festivities? Contact us today and prepare to experience Nantucket's holiday magic like never before!

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2 Brocks Court - $5,595,000

Eye-catching and unique 4-bedroom, 5.5-bathroom Victorian home situated in the heart of Town and sited on an oversized lot. Beautifully renovated from top to bottom and added onto in 2014 by master builder, Ed Toole. Stunning trim details and built-ins throughout. Outside, take in the surrounding area from the large, covered front porch, or enjoy the private, mahogany rear deck with built-in seating, in addition to a grade-level patio. Gorgeous, peaceful setting with natural vistas. Plenty of off-street parking.

2 Brocks Court →