16 NANTUCKET REAL ESTATE
Transcript of 16 NANTUCKET REAL ESTATE
ALL PROPERTIES YTD FEB 2016 YTD FEB 2015 % CHANGE YOY
Transactions 72 62 16% d
Dollar Volume ($ in ‘000’s) $122,278 $125,111 –2% f
Avg Months on Market 9 8 1 d
Sales Price to Last Ask Price 94% 93% 1 d
Active Listings 297 274 8% d
Months Supply of Inventory 7 6 1 d
Recorded Contracts 79 53 33% d
$3,450,000 2 KING’S WAY
MARKETED FOR [2.3 Months]
$1,950,00039B MILK STREET
MARKETED FOR [3 days]
$6,950,0001 CLIFF LANE
5BR/5+BA .46 ACRES
(508) 228–4407 21 MAIN STREET, NANTUCKET, MASSACHUSETTS 1
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Market Insights BY JEN SHALLEY
NANTUCKET REAL ESTATE
KEY MARKET STATISTICS
MONTHLY SALES HIGHLIGHTS
NANTUCKET REAL ESTATE SALES ACTIVITYHISTORICAL ANALYSIS JANUARY & FEBRUARY
00 01 02 03 04 05 06 07 08 09 10 11 12 13 14
SALES VOLUME ($) NUMBER OF TRANSACTIONS
HIGHEST SALE QUICKEST SALE NOTABLE NEW LISTING
FISHER’S R E V I E W
Nantucket real estate saw a
promising start to 2016 with a
16 percent year-over-year rise
in transaction activity through
February 29, 2016. Dollar volume
was down a modest two percent
due to an increase in the number
of lower price point transactions
($1MM-$2MM) and a simultaneous
decrease in higher end price points
(both the $2MM-$3MM and $4MM-
$5MM saw declines). A notable
and encouraging development
during the first two months of the
year was the 33 percent rise in new
contract activity — a data point
which indicates there will continue
to be strong transaction activity
into the second quarter.
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f Transactions
Years
CONTRACT ACTIVITYVIBRANT START TO 2016
NOTABLE SALES TRENDS
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Market Insights BY JEN SHALLEY
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• New contract activity in January and February 2016 surpassed 2015 results by a respective 19 percent and 50 percent
• The average last listing price for these new contracts, $1.84 million, was nearly identical to one year ago
’SCONSET SALES ACTIVITYCURRENT MOMENTUM VS. 2015
SALES DATA & MARKETING TIMES
SF HOME SALES BY PRICE POINT THROUGH FEBRUARY 29, 2016
SINGLE-FAMILY HOMESPROJECTED MARKETING TIMES BY PRICE POINT
• One trend of note was a rise in early sales activity in ‘Sconset, particularly compared to full-year 2015 results
• YTD total dollar volume for ‘Sconset area sales and contracts measured nearly half of full-year 2015 results (see Fisher blog on “The Domino Effect”)
• While overall transaction volume increased, year-over-year dollar volume declined just slightly given an increased concentration in lower price point sales compared to 2015
• Home sales in the $1MM to $2MM price point increased 9 percentage points while sales in the $2MM to $3MM price point declined 5 percentage points
• Based on trailing 12-month sales and current inventory, the $8MM-$9MM price point is expected to take nearly twice as long to sell as homes priced between $6MM-$7MM
• Homes listed for less than $1MM are now expected to sell within two months, compared to a projected 4 months at the end of 2015
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NOTABLE SALES TRENDS
(508) 228–4407 21 MAIN STREET, NANTUCKET, MASSACHUSETTS 3
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NANTUCKET REAL ESTATE
• New contract activity in January and February 2016
surpassed 2015 results by a respective 19 percent
and 50 percent
• The average last listing price for these new
contracts, $1.84 million, was nearly identical to one
year ago
CONTRACT ACTIVITYVIBRANT START TO 2016
CLOSE
NOTABLE SALES TRENDS
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NANTUCKET REAL ESTATE
’SCONSET SALES ACTIVITYCURRENT MOMENTUM VS. 2015
CLOSE
• One trend of note was a rise in early sales
activity in ’Sconset, particularly compared to
full-year 2015 results
• YTD total dollar volume for ’Sconset area sales
and contracts measured nearly half of full-year
2015 results
(see Fisher blog on “The Domino Effect”)
NOTABLE SALES TRENDS
(508) 228–4407 21 MAIN STREET, NANTUCKET, MASSACHUSETTS 5
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NANTUCKET REAL ESTATE
SF HOME SALES BY PRICE POINT THROUGH FEBRUARY 29, 2016
CLOSE
• While overall transaction volume increased, year-
over-year dollar volume declined just slightly
given an increased concentration in lower price
point sales compared to 2015
• Home sales in the $1MM to $2MM price point
increased 9 percentage points while sales in the
$2MM to $3MM price point declined
5 percentage points
NOTABLE SALES TRENDS
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NANTUCKET REAL ESTATE
SINGLE-FAMILY HOMESPROJECTED MARKETING TIMES BY PRICE POINT
CLOSE
• Based on trailing 12-month sales and current
inventory, the $8MM-$9MM price point is
expected to take nearly twice as long to sell as
homes priced between $6MM-$7MM
• Homes listed for less than $1MM are now
expected to sell within two months, compared
to a projected four months at the end of 2015