The week in review, Nantucket Real Estate just the facts for the w/e 2-19-17

Good President's Day from Nantucket. Most of you reading this were pounded with more snow over the last 10 days then many would want in a full season! But as I write early on this morning I write accompanied by what seems full sunlight after an amazing sunrise….seemingly we are on our way to another extraordinary spring Nantucket Real Estate Market. There are a few more listings coming on-line, a few less properties going off-line and well, someone is at work because there are a few properties that have successfully traded!

In the new listing category, after a few weeks off of writing, it is exciting to see 6 new properties with a great mix of commercial, mid-island, and town. The average asking price is $1,455 a number that might get you thinking about is now the time that I get into this market.

• $495             Mid Island - 3 Mary Ann Drive
• $1,155          Mid Island - 14 Lewis Court    
• $1,395          Town - 11 Spring Street # 3
• $1,495          Town - 55 Fair Street
• $1,699          Sconset - 8 Broadway
• $2,495          Mid Island - 5 Sparks Avenue 

Now for those who are holding and are wanting to shed their properties a little quicker it would appear these prices have adjusted to the market a bit. 3 properties resetting in 3 areas, see adjustments below:

·      $725             Mid Island - 20 Sparks Avenue; originally listed 8/2016 at $795          

·      $1,275          Town - 43 North Liberty Street; originally listed 12/2016 at $1,350*

·      $7,350          Monomoy - 42 Monomoy Road; originally listed 10/2016 at $7,500

* if you see how great the house next door came out you would think to yourself what a great entry to get into the Cliff area, do a little work and have a fabulous house with great upside potential

And some as we wind down from winter still go off the market before either a reset later in spring or for any host of reasons. Remember though just because they are off the market, doesn’t mean they are unavailable!

·      $1,699          Sconset - 8 Broadway

·      $2,500          Town - 17 Union Street

Now on to the exciting transactions….3 beginning trades that again canvas the island from town west through Surfside, and the sleeper area of Fishers Landing. The picture above also happens to come from Madequecham a beach I haven’t been to in years but I know whoever purchased on 100 MVR will love both its locations and views – land, a complicated Dover St property and a great bargain on Surfside! Average property that went under P&S was listed at $1,812 with a good range of 2<$1m and 3 in the $1-2M range and 1 each in the $2m and $3m price points.

$639             Mid Island - 15 Greglen Avenue

$875             Town - 13 West Dover Street

$1,395          Surfside - 105 Surfside Road   

$1,495          Fishers Landing - 20 Creek Lane

$1,895          Madequecham - 100 MV Road 

$2,495          Town - 7 Farmer Street

$3,895          Squam - 77 Squam Road

O to P was a great value (with a little work) on Maclean, close to the schools and everything mid-island and the P&S from above on Fishers Landing.

·      $850             Mid Island - 10 Maclean Lane

·      $1,495          Fishers Landing - 20 Creek Lane

Then for those that have made it all the way through the process and can officially declare themselves as sold!

$900             Mid Island - 2 Larrabee Lane sold at just about an 8% discount to original ask of $975k

$901             Miacomet - 2 Helens Drive sold above asking price at $901k

$1,240          Naushop - 7 Bluebird Lane selling at a slight discount of 2.75% original price $1,275m

$2,725         Town - 3 South Mill Street traded at $2,725m down from the original asking price of $3,275m in May 2015

$2,750          Miacomet - 15 Ellens Way transferred at a 5% discount to the original asking price of $2,895 at $2,750

Let us help plan the Summer 2017 vacation or be the building blocks for your first foray into either the investment path or first Nantucket home be it year round or vacation! Remember you can reach me here on Nantucket at Fisher Real Estate or 508-901-0191 

. Learn more about me through the Fisher Nantucket team bios and check out my latest listing 2 Hydrangea Lane, Nantucket

For more in-depth research and monthly analysis of the Nantucket Real Estate Market, read the Fisher Real Estate Market Analytics produced by Jen Shalley and sign up here to receive the market insights directly.