Data source: LINK Nantucket, Nantucket Listing Service

The
Nantucket Real Estate Report
!"#$%&$'(&) !#"%#+,#) best uesciibes Nantucket last
month; gieat weathei, fewei ciowus, easiei paiking, lots of
activities anu bounuless oppoitunities to enjoy teiiific meals at
outstanuing iestauiants without having to make a ieseivation...It
was simply spectaculai.
With S9 closings, 22 accepteu offeis anu S2 piice aujustments,
ovei $98N in ieal estate changeu hanus, anothei $61.SN went
unuei agieement anu anothei $4S.SN in piopeities hau accepteu
offeis...Septembei was also a spectaculai ieal estate month on-
islanu.
While slightly below August's iecoiu-bieaking volume of $1u4N,
Septembei's volume incluueu only one tiansaction ovei $1uN
compaieu to August's one tiansaction foi ovei $SuN (involving
multiple piopeities).
Naking up S2% of tiansactions anu 12.18% of the month's uollai
volume in Septembei, sales unuei the $1N maik weie ielatively
weak when compaieu to eailiei this yeai. Bowevei, the fluiiy of
sales below this piice point in 2u1S has left an inventoiy of only
6S iesiuential piopeities now foi sale below the $1N maik
compaieu to Su1 iesiuential listings piiceu above $1N.
!!"#$ "&'& #(' $)& !(*+!&,&
%"-, &. ''(+&',/ $'01-.&'-
!!"#!$%!&"' #$
%)&*!'# &&)+'),#-.+'
September 2013
6 Beuge Row
2345554555
4 Fintiy Lane
2647784555
1S Baxtei Roau
29945554555
68A Cliff Roau
2:4;854555
22 Noith Pastuie Lane
2:43554555
1SR Buinell Stieet
2:45854555
26 uosnolu Roau
2:4<394555

16 0iange Stieet
2343854555
14 Nayhew Lane
234=854555
1 Annes Lane
264=554555
Dollar Volume and Number of Properties Sold By Month
(compared to previous year)
N
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-.# )#/'(%/ 01 & ,'/2 /'++#)333
Septembei's sales volume of $98N may have been below August's volume of $1u4N, but was still the
stiongest Septembei since 2u1u (when ovei $1SuN in volume solu in only S1 tiansactions - with the 4 laigest
puichases totaling $68N). Numbei-wise, with S9 sales, Septembei 2u1S was the busiest Septembei since
2uu7 when 68 piopeities tiaueu hanus. As expecteu, because of the S4 offeis accepteu }uly thiough August at
a total asking piice of ovei $1u6N, Septembei was bounu to be filleu with closings. Bowevei, with only Su of
those accepteu offeis closing, theie aie still 24 penuing tiansactions totaling ovei $7uN still in piocess;
because of this, it looks like 0ctobei will be busy as well.
With the laige numbei of closings last month, the numbei of piopeities solu YTB continues to suipass
2u12 YTB sales (S1S veisus 288) foi the thiiu month in a iow with the gap in uollai volume naiiowing to
an $11N (2.SS%) shoitfall fiom 2u12 levels (compaieu to moie than a 9% lag at the enu of August).
Lanu Sales:
Last month's 11 lanu sales totaling almost $9.4N (making up 18.6% of the tiansactions anu 9.6% of total
sales volume) weie consiueiably less than the 88 tiansactions totaling $41N expeiienceu in August.
Bowevei, when compaieu to pievious months this yeai, Septembei still piouuceu twice as many sales at
twice the uollai volume than aveiageu this yeai (excluuing August).
Thiough Septembei Su
th
, 61 paicels of lanu tiaueu hanus (148 if the ulowacki sale in August weie uiviueu-
up), compaieu to S8 in 2u12, 26 in 2u11, 2S in 2u1u, 17 in 2uu9, 19 in 2uu8 anu S8 in 2uu7. Lanu sales have
been significant this yeai with inventoiy levels iemaining faiily constant.
Theie aie still 7S lanu-paicels cuiiently on-maiket with 6 of them laigei than S acies. The laigest paicels
cuiiently listeu aie a 26.6 acie paicel on Tuckeinuck anu a 21 acie paicel in Shimmo. Also cuiiently available:
!
24 piopeities being less than 11,uuu sq. ft. in size - aveiage asking piice $84S,2u8
!
14 paicels being between 11,uuu sq. ft. anu 21,uuu sq. ft., - aveiage asking piice $899,u71
!
16 paicels between V acie anu 2 acies - aveiage asking piice $2,267,7Su ($1.29N without the $16.9N, 1.2S acie 7
Beathei Lane paicel)
!
1S piopeities between 2 anu S acies - aveiage piice $2,2S1,769
Commeicial Activity:
0ne commeicially zoneu gaiage solu in Septembei foi $162,Suu but two commeicial piopeities hau accepteu
offeis in Septembei.
Theie aie only 14 commeicial piopeities cuiiently listeu foi sale, two of which have been on-maiket less than
6u uays - 14B Spaiks Stieet anu 117 Pleasant Stieet .
The
Nantucket Real Estate Report
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Residential Sales:
The uiamatic inciease in sales activity last month was a uiiect
iesult of 47 iesiuential piopeities having solu. Repiesenting 8u%
of sales activity (72% in August) anu $88.SN, oi 9u% of the uollai
volume (6u.6% in August), Septembei was a bannei month foi
iesiuential ieal estate sales.
At month-enu theie weie SS7 single-family piopeities listeu foi
sale (S7u at the enu of August). At this level, theie is a 16-month
supply of inventoiy cuiiently on-hanu, baseu on the fiist nine
months of activity, oi a 8.S-month supply baseu on Septembei's
activity of 42 sales.
With S sales totaling ovei $S.1N, conuos, co-op's anu multi-family
uwelling maue up 8.S% of Septembei's sales activity anu S% of
the uollai volume. Conuo, co-op anu multi-family sales iemain
significantly aheau of 2u12's sales (46 sales veisus S2 in 2u12)
anu almost S1% highei in total uollai volume ($24.6N veisus
$18.7N in 2u12). Even with this iecent activity, theie is still a 6 -
month supply of conuo, co-op anu multi-family inventoiy on-
maiket (29 listings) with piices ianging fiom $27SK foi a stuuio
unit on Washington Stieet (on-maiket moie than 6 yeais) to
$2.67N foi a 4 beuioom4 bath conuo on Still Bock (on-maiket
less than 4 months).
Days On-Market:
0n aveiage, the 4S iesiuential piopeities solu thiough a ieal
estate fiim in Septembei weie on-maiket 1S4 uays (1u4 uays if
the one piopeity on-maiket moie than 6 yeais is excluueu).
Residential Pricing:
Theie weie 29 piice ieuuctions uuiing the month anu 18
accepteu offeis compaieu to 62 ieuuctions anu 26 accepteu offeis
in August anu 47 piice ieuuctions anu 21 accepteu offeis in
Septembei 2u12. Last month's piice ieuuctions iesulteu in a uiop
of 9%, on aveiage, fiom oiiginal piicing.
0n aveiage, iesiuential piopeities closeu at 91.6% of final asking
piice, 87.9% of oiiginal asking piice (foi the 4S solu thiough a
ieal estate fiim) anu 1u2% of theii assesseu valuation (foi the 42
piopeities with a cuiient assesseu valuation).
Residential Sales
LEE REAL ESTATE
A higher level of Service
Residential Sales
Price Range Total $ Volume
< $750K $4,144,500
$751K - $999K $7,799,000
$1M - $1.499M $9,950,000
$1.5M - $1.999M $11,835,000
$2M - $2.499M $2,000,000
$2.5M - $2.999M $13,805,000
$3M - $3.499M $6,350,000
$3.5M - $3.999M $3,850,000
> $4M $11,000,000
Total $70,733,500
YTD Activity:
With S4 of 2u1S behinu us, it has been a iewaiuing yeai foi
those wanting to puichase oi sell piopeity below the $1N uollai
maik. Not only was the supply of inventoiy available below this
piice point abunuant, 184 buyeis appaiently founu ieal value in
the piopeities they puichaseu (vs 1S6 in 2u12, 121 in 2u11 anu
86 in 2u1u).
While theie has been
n o t i c e a b l e
i mpi ove me nt f oi
piopeities selling in
the $1N anu $2.SN
iange these past two
mo n t h s , a l a i g e
amount of inventoiy
i e m a i n s ( 1 7 4
piopeities). With 2u
sales iepiesenting S4% of sales anu Su% of volume (compaieu to
2S sales iepiesenting 46% of sales anu almost S4% of uollai
volume in August), this segment of the maiket is showing signs of
continuing impiovement with 29 penuing sales cuiiently making
theii way thiough the system. Sales in the $2.SN to $SN iange aie
now 1 tiansaction aheau of the 29 seen in 2u12, laigely uue to the
12 puichases closeu in Septembei. uoou news foi both segments
of the maiket.
Yeai to uate, 7 tiansactions ovei $7.SN have taken place (totaling
$1uSN in volume) compaieu to 7 in 2u12 totaling almost $7SN, 2
in 2u11, 7 in 2u1u, 4 in 2uu9 anu 1u in 2uu8. Laige uollai sales
continue to contiibute significantly to this yeai's oveiall iesults.
Availability:
0n Septembei Su
th
, theie weie 479 listings on-maiket, S8S of
which weie iesiuential; compaieu to 48u listings at the enu of
August (S98 iesiuential). 0f the S6 piopeities biought to maiket
in Septembei, only 19.6% (11 listings) weie pievious listings
biought back on-maiket - a gieat impiovement ovei the 4u-6u%
seen eailiei this yeai.
58 Main Street
Nantucket, MA 02554
Telephone: 508.325.5800 | Fax: 508.228.6128
www.leerealestate.com
LEE REAL ESTATE
A higher level of service
Bottom-line:
In the last 9u uays, sales volume was up
12.7% ovei last yeai, neaily 7u% highei
than in 2u11 anu 18% highei than 2u1u
levels. Sales activity (piopeities solu)
uuiing this same time peiiou was up
27%, S6% anu S4% iespectively.
While sales unuei the $1N maik have
been stiong this yeai, incieaseu activity
in the $1N to $2.SN iange appeais
piomising with S2% of the sales activity
taking place in the last 9u uays. Bowevei,
competition iemains stiff with 174
piopeities cuiiently listeu, S7 of which
(21%) have been on-maiket moie than
one yeai, within this piice iange. 0wneis
wanting to sell within these piice points
shoulu be encouiageu - buyeis aie
buying.
Inteiestingly, of the 181 active listings
with a piice aujustment in 2u1S, S8 solu
this yeai anu 21 aie cuiiently unuei
agieement. While not ieally a Buyei's oi
Sellei's maiket, Buyeis iemain piice
conscious anu continue to move on
piopeily piiceu piopeities.
!"# !%#&"'
www.leerealestate.com
Land Parcels Selling Price
% of Final
Asking
Price
% of
Original
Price
Lot size
(sq. ft.)
Price per
sq. ft.
Days On
Market
Lot 13 174 Tomahawk Road $210,000 100.00% 100.00% 5,227 $40.17 N/A*
73 Hinsdale Road $250,000 100.00% 100.00% 4,792 $52.17 N/A*
40 Long Pond Drive $432,500 87.37% 87.37% 20,473 $21.13 412
12 R Skyline Drive $650,000 100.00% 92.86% 126,324 $5.15 730
35 Vestal Street $766,666 100.00% 100.00% 5,031 $152.38 N/A*
35 Vestal Street $766,666 100.00% 100.00% 5,632 $136.12 N/A*
35 Vestal Street $766,668 100.00% 100.00% 5,362 $142.98 N/A*
13 Hedgebury Lane $1,200,000 86.02% 86.02% 20,038 $59.89 78
50B Baxter Road $1,200,000 100.00% 100.00% 13,504 $88.87 1
11A Crooked Lane $1,450,000 93.85% 93.85% 81,022 $17.90 3
35 Vestal Street $1,700,000 100.00% 100.00% 15,181 $111.98 N/A*
Total Land Sales $9,392,500 93.3% 92.5% (sold through a real estate firm)
Average: $853,864 27,508 $75.34
Median Of All Land Sales: $766,666 100.00% 100.00% 13,504 $59.89
Commercial Properties Selling Price
% of Final
Asking
Price
% of
Original
Price
Price
per sq. ft
(space)
Space
(sq. ft.)
Days On
Market
12 Amelia Drive # C $162,500 98.48% 98.48% $290.18 560 6
Residential Properties Selling Price
% of Final
Asking
Price
% of
Original
Price
Price
per sq. ft
(living area)
Lot size
(sq. ft.)
Days On
Market
Living Area
Sq. Ft. Beds Baths
133-A Old South Road $158,000 95.76% 95.76% $591.76 Condo 103 267 0 1
5C Pine Tree Road # 1 $422,500 94.10% 94.10% $529.45 Condo 25 798 1 1.5
13R Bear Street $675,000 97.12% 97.12% $451.20 Condo 83 1,496 4 2.5
40 Union Street # B $995,000 97.07% 97.07% $560.56 6,098 30 1,775 3 2
15 Meader Street $860,000 86.43% 86.43% $400.37 7,405 44 2,148 6 5
18 Arkansas Avenue $298,000 101.02% 101.02% $314.35 3,049 349 948 2 2
50 Arkansas Avenue $330,000 101.54% 101.54% $343.75 4,792 95 960 2 2
2 Nobadeer Way $387,500 81.58% 81.58% $212.68 14,810 23 1,822 3 2
62 Hooper Farm Road # $498,500 100.00% 100.00% $238.52 23,087 N/A* 2,090 5 2.5
1 Meader Street $675,000 96.57% 84.48% $964.29 2,614 53 700 2 1
56 Bartlett Road $700,000 100.00% 100.00% $583.33 12,197 N/A* 1,200 3 3
1 Lyon Street $750,000 92.02% 83.80% $484.81 2,178 89 1,547 3 2
24 Somerset # Lane $750,000 100.00% 100.00% $382.65 23,087 N/A* 1,960 3 3
74 North Liberty Street $839,000 100.00% 100.00% $481.35 4,792 7 1,743 4 2
13 Goldfinch Drive $855,000 100.00% 100.00% $432.69 5,227 N/A* 1,976 5 3
18 Polliwog Pond Road $875,000 97.77% 97.77% $270.40 11,761 18 3,236 6 3
1A Lily Street $900,000 90.91% 90.91% $1,168.83 2,178 32 770 2 1.5
5 Wigwam Road $975,000 100.00% 55.71% $580.36 50,530 2266 1,680 4 2.5
53 North Liberty Street $1,050,000 89.36% 89.36% $615.47 6,970 0 1,706 4 2.5
119 Surfside Road $1,100,000 92.05% 92.05% $592.67 41,818 51 1,856 4 3
4 Huntington Street $1,125,000 90.07% 90.07% $358.17 10,019 372 3,141 3 4.5
52 Tennessee Avenue $1,150,000 88.46% 79.31% $619.95 14,810 363 1,855 3 3
28 Quidnet Road $1,200,000 80.27% 80.27% $1,428.57 40,859 94 840 2 1
50A Baxter Road $1,400,000 100.00% 100.00% $1,047.12 13,504 1 1,337 2 1.5
14 Clifford Street $1,450,000 113.73% 113.73% $1,399.61 47,480 21 1,036 4 3
3 East Lincoln Avenue $1,475,000 98.33% 98.33% $1,213.99 3,485 43 1,215 3 1.5
42 Pine Street $1,500,000 88.50% 88.50% $843.17 3,006 239 1,779 4 2.5
79 Burnell Street $1,600,000 86.49% 86.49% $467.84 20,038 84 3,420 5 5.5
5 North Liberty Street $1,620,000 77.14% 72.00% $640.57 15,682 167 2,529 4 3
6 Tennessee Avenue $1,700,000 94.71% 94.71% $893.80 5,663 32 1,902 3 3
146 Surfside Road $1,715,000 91.47% 91.47% unknown 52,272 30 unknown 4 3
11 Barnabas Lane $1,800,000 90.23% 79.12% $712.03 6,534 499 2,528 3 3
8 McKinley Avenue $1,900,000 96.20% 88.37% $1,112.41 4,792 316 1,708 6 2
26 Pleasant Street $2,000,000 87.15% 87.15% $585.31 7,841 31 3,417 5 3.5
10 Irving Street $2,595,000 100.00% 100.00% unknown 33,659 16 unknown 4 4.5
65 Walsh Street $2,675,000 89.32% 78.10% $1,202.79 6,098 46 2,224 3 2.5
7 Pilgrim Court $2,740,000 91.49% 91.49% $914.55 7,841 26 2,996 4 4.5
1 Annes Lane $2,800,000 88.89% 88.89% $818.47 20,038 27 3,421 5 5.5
4 Fintry Lane $2,995,000 100.00% 100.00% $608.99 79,715 19 4,918 4 3.5
6 Hedge Row $3,000,000 91.60% 91.60% $949.37 19,994 63 3,160 4 3
16 Orange Street $3,350,000 89.33% 67.00% $1,070.63 4,792 438 3,129 4 4.5
14 Mayhew Lane $3,850,000 97.47% 97.47% $875.00 20,909 33 4,400 5 5.5
13R Burnell Street $4,050,000 96.54% 96.54% $643.67 11,761 17 6,292 8 8.5
22 North Pasture Lane $4,300,000 93.50% 93.50% $1,128.61 41,382 55 3,810 6 6.5
68A Cliff Road $4,650,000 96.98% 96.98% $775.00 10,019 43 6,000 7 7.5
26 Gosnold Road $4,731,000 79.51% 73.35% $899.43 20,870 297 5,260 7 6.5
15 Baxter Road $11,000,000 88.00% 88.00% $1,729.02 43,560 24 6,362 6 6.5
Total Residential Sales $88,464,500 91.8% 88.2%
Average: $1,882,223 $736.39 17,937 155 2,430 4 3
Median Of All Residential Sales: $1,400,000 94.10% 91.60% $619.95 11,761 1,902
N/A* - Not Sold Through A Real Estate Firm
Unknown - new construction
Properties Sold In September 2013
(excluding foreclosures)