.

The
Nantucket Real Estate Report
Number of residential properties sold may
have been higher last August but there were
more accepted offers this August.
August 2014
!"#$%&'($ *"+ %#+("+,#"-./ &,,. 0# 1%2%+$ anu
so weie islanu ieal estate closings. Foitunately, summei iesiuents
anu visitois enjoyeu theii on-islanu time with seveial businesses
iepoiting incieaseu tiaffic anu sales. In spite of the ielative
slowuown in closings foi the month, the outlook foi Nantucket
ieal estate iemains positive anu heie's why.
Almost $64N changeu hanus foi the S8 piopeities solu in August
while anothei S7 piopeities, totaling $92.7N in asking piice,
ieceiveu accepteu offeis. 30$4 ,5(6 789:; 0# <6,<(6$/ +".(+
+$0.. 0# <6,&(++= !"#$%&'($>+ 6(". (+$"$( ?"6'($ 6(?"0#+ 4,$@
With 12 fewei tiansactions than August 2u1S, last month's sales
slowuown iesulteu in a S8.6% uecline in uollai volume fiom the
iecoiu-setting pace of a yeai ago. While this fluctuation is mostly
uue to the August 2u1S sale of 77 inuiviuual piopeities (Waltei
ulowacki) to one buyei (Richmonu uieat Ponu Bevelopment) in a
packageu ueal foi $Su.SN, August 2u14 woulu still tiail August
2u1S by 11 tiansactions (28.9%) anu $9.7N in uollai volume
(1S.1%) if the ulowacki tiansaction was excluueu.
When compaieu to the same 9u uay time-peiiou last yeai,
tiansactions aie uown 7.2S% anu uollai volume is uown 4% - the
fiist time we have seen this occui this yeai.
7.25% decline in sales and 4% decline in
dollar volume - when compared to same
90 day period last year.
55% of residential sales were under $1M.
At A Glance...


>(?(38 @ABC >D2E<86 F")1$%*, 8" >(?(38 @ABG >D2E<86
.2014 .2013 Cf Change Irom Last ear
Number So|d 5 Vo|ume So|d Number So|d 5 Vo|ume So|d Number
So|d
5 Vo|ume
Land 10 521,028,490 14 541,049,106 -28.6 -48.8
Commerc|a| 0 50 0 50
Mu|n-Iam||y 1 5690,000 1 5730,000 0.0 -S.S
Condos & Co-op S 52,042,000 3 51,900,S00 66.7 7.4
S|ng|e-Iam||y 22 540,139,SS0 32 560,39S,328 -31.3 -33.S
1ota| Sa|es 38 563,900,040 S0 5104,074,934 -24.0 -38.6
uaLa Source: Llnk nanLuckeL, nanLuckeL Llsung Servlce
!"##$% '"#()* $+, -().*% "/ 0%"1*%2*3 4"#, 56 7"+89
(compared to previous year)
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12
Dollar Volume & Number Of Transactions
(For Same 3-Month Period Ending August 31)
2011 2012 2013 2014
Properties Sold $ Volume
$214M
$223M
$191M
$144M
113
124
94
83 83
94
124
113
Price Reduction, Accepted Offer &
Closing Trends
0
20
40
60
80
2010 2011 2012 2013 2014
Price Reductions Accepted Offers
Number of Closings 0
25
50
75
100
$0M
$28M
$55M
$83M
$110M
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$ Volume in 2013 $ Volume in 2014 Number Sold '13 Number Sold '14
38
33
44
42
36
34
30
39
50
31
43
38
35
25
22
12
$64M
$55M
$95M
$65M
$50M
$51M
$61M
$63M
39
30
34
36
42
44
33
38
12
22
25
35
38
43
31
50











.

***@.((6(".(+$"$(@&,?
!"##"$%&'()*
With yeai-to-uate tiansactions up 1S.6% ovei
last yeai at this time (uown fiom }uly's 2S.2%
inciease) anu uollai volume S4% highei (but
uown fiom }une's 6S.4% anu }uly's 62%
inciease), Nantucket is on tiack foi anothei
bannei yeai in ieal estate.
Now that moie than a half-billion uollais in
sales have taken place this fiist 8 months anu
anothei $SSS million is cuiiently making its
way thiough the sales piocess, I am beginning
to believe we may actually achieve the elusive
!"#$$#%& (%$$)* +)*,- by yeai-enu.
Not since 2uu7 have we seen this level of
uollai volume oi since 2uu4 this much
piopeity solu yeai-to-uate. When you
consiuei that 2uu4 anu 2uuS weie the only
yeais ieal estate sales exceeu $1 billion, this is
a iemaikable impiovement - especially when
compaieu to 2uu9's $44SN in sales (which
was neaily ieacheu by }uly S1
st
this yeai).
While inventoiy at month-enu may be 6.S%
highei than in }uly, theie aie still 6u fewei
piopeities (12.S%) on-maiket than theie
weie a yeai ago at this time (6S fewei
iesiuential piopeities). As usual, while moie
piopeities may be selling, ceitain aieas aie
uefinitely much hottei than otheis.
Whethei we ieach the $1 billion uollai maik
oi not this yeai, touay's maiket is not the
feeuing fienzy of 2uu4-2uuS. While the
cuiient aveiage home piice of $1.798N may
be in between the $1.6S4N anu $2.1S9N
aveiages of 2uu4-2uuS iespectively, piices
touay aie moie iealistic anu buyeis moie
subuueu - anu both aie positive changes.
()& (.&$)/
A(+0B(#$0". C".(+D
August's 28 iesiuential sales weie shoit of the S6 iesiuential
sales in August 2u1S iesulting in a $2uN (S2%) uecline in uollai
volume anu 22% uecline in tiansactions. Not only weie both
tiansactions anu uollai volume lowei this past August than last
yeai, but aveiage sale piices uioppeu fiom $1,7Su,717 in August
2u1S to $1,SS1,127 (12.S%) foi August 2u14.






E"#B C".(+D
August's 1u lanu sales paleu in compaiison to last yeai uue to
the ulowacki sale of 77 piopeities. Bowevei, without that sale
the 1S othei lanu tiansactions totaleu moie than $1u.4N in
uollai volume while August 2u14 hau ovei $21N in uollai
volume, an inciease of 1u2%.
With 7S piopeities cuiiently on-maiket, inventoiy actually
giew in August. Baseu on activity seen in the last 18u uays theie
is about an 11-month supply of inventoiy cuiiently available.
F,??(6&0". C".(+D
Theie weie no commeicial piopeity sales oi any accepteu offeis
in August though theie is one penuing sale still in piocess.
Cuiiently theie aie 14 commeicial piopeities on-maiket - 9 of
which aie in the coie commeicial uistiict (incluuing the 4
Centei Stieet piopeities listeu thiough an off-islanu fiim).
15"0."-0.0$/D
Theie weie 42u piopeities (SSS iesiuential) on-maiket at
month-enu veisus S94 listings at the enu of }uly (219
iesiuential) anu 48u (S98 iesiuential) at the enu of August
2u1S. 0f the 87 piopeities biought to maiket in August, 1S
(17.2%) weie pieviously listeu with a meuian time on-maiket of
S41 uays .


The
Nantucket Real Estate Report
YTD Dollar Volume & Number Of Properties Sold
2
0
1
0
2
0
1
1
2
0
1
2
2
0
1
3
2
0
1
4
Number of Sales $ Volume
$303M
$373M
$412M
$293M $299M
296
256
239
205
182 182
205
239
256
296
Land Commercial
Multi-Family Condos & Co-op
Single-Family
Number & Volume Of Properties Sold Last Month By Type
Land Parcels Selling Price
% of Final
Asking
Price**
% of
Original
Price**
Lot size
(sq. ft.)
Price per
sq. ft.
Days On
Market
3 Spearhead Road $225,000 N/A* N/A* 5,227 $43.04 N/A*
10 Tomahawk Road $225,000 N/A* N/A* 5,227 $43.04 N/A*
63 Bartlett Road $385,000 97.47% 73.33% 20,038 $19.21 257
8 Marcus Way $925,000 92.96% 92.96% 199,505 $4.64 11
4 Hickory Meadow Lane $1,767,500 95.54% 95.54% 87,120 $20.29 3
9 North Road $2,001,000 93.07% 75.51% 53,579 $37.35 323
10 Hickory Meadow Lane $2,250,000 N/A* N/A* 96,268 $23.37 N/A*
9 Hinckley Lane $2,900,000 98.31% 98.31% 34,739 $83.48 0
7 Hinckley Lane $3,950,000 100.00% 100.00% 85,378 $46.27 0
11 Mill Hill Lane $6,400,000 92.75% 92.75% 116,305 $55.03 105
Total Land Sales $21,028,500
Average: $2,102,850 95.73% 89.77% 70,339 $37.57 100
Median Of All Land Sales: $1,884,250 95.54% 92.96% 69,478 $40.20 11
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
47 Nobadeer Farm Road # B $350,000 83.33% 83.33% $347.22 Condo 64 1,008 3 2.5
47 Nobadeer Farm Road # A $350,000 83.33% 83.33% $347.22 Condo 64 1,008 3 2.5
3A Sun Island Road # 1 $409,000 93.17% 93.17% $608.63 Condo 0 672 2 1
6B Park Circle $433,001 N/A* N/A* $333.08 Condo N/A* 1,300 3 2.5
17 Woodland Drive $480,000 91.43% 91.43% $434.78 20,038 6 1,104 3 2
4A Charter Street $500,000 N/A* N/A* unknown Condo N/A* unknown 2 1
7 Trotters Lane $596,000 N/A* N/A* $575.85 11,326 N/A* 1,035 3 2
13 Atlantic Avenue $625,000 83.33% 83.33% $492.13 5,227 260 1,270 3 2
3 Williams Lane $670,000 99.26% 99.26% $879.27 5,227 6 762 1 1
27 Meadow View Drive $675,000 N/A* N/A* $410.09 13,939 N/A* 1,646 3 3
36 SURFSIDE ROAD $690,000 89.03% 89.03% $414.17 10,890 434 1,666 6 2
49 West Chester (portion) $715,000 95.33% 95.33% $990.30 4,487 217 722 1 1
14 West Sankaty Road $830,000 92.74% 92.74% $800.39 4,792 35 1,037 3 1
7 Madaket Road $860,000 N/A* N/A* $403.38 7,405 46 2,132 4 3.5
26 Daffodil Lane # B $965,000 96.98% 96.98% $365.39 11,526 246 2,641 4 3.5
3 Sandpiper Way $985,000 89.95% 89.95% $653.62 76,230 42 1,507 3 2
48 Union Street $1,020,000 85.00% 85.00% $453.94 5,663 93 2,247 5 2
47 Boulevarde $1,061,046 N/A* N/A* $296.55 56,628 N/A* 3,578 4 3
8 Derrymore Road $1,075,000 97.73% 97.73% $625.00 3,964 17 1,720 4 1.5
4 North Beach Street $1,200,000 N/A* N/A* $750.00 7,841 332 1,600 5 5
24 Flintlock Road $1,360,000 90.97% 90.97% $454.55 106,722 139 2,992 5 4.5
1 Spring Street Lot #1 $1,400,000 N/A* N/A* $1,666.67 3,049 N/A* 840 0 0
8 Gingy Lane $2,740,000 98.03% 98.03% $537.25 6,098 95 5,100 5 5.5
60 Cliff Road $3,337,500 95.49% 76.72% $939.61 12,841 628 3,552 6 4.5
11 Mattapoisett Avenue # $3,750,000 N/A* N/A* $1,317.64 19,602 N/A* 2,846 5 5
3 Wingspread Lane $4,600,000 92.46% 92.46% $693.71 132,422 362 6,631 4 3.5
5 North Liberty $5,395,000 100.00% 100.00% $1,254.65 15,682 5 4,300 5 5.5
201 Eel Point Road $5,800,000 89.30% 89.30% $2,471.24 60,984 82 2,347 5 2.5
Total Residential Sales $42,871,547
Average: $1,531,127 91.94% 90.95% $722.83 26,199 151 2,121 4 3
Median Of All Residential Sales: $912,500 92.46% 91.43% $575.85 11,326 82 1,646 3.5 2.5
N/A* - Not Sold Through A Real Estate Firm ** Excludes Properties Not Sold Through A Real Estate Firm
Properties Sold In August 2014
(excluding foreclosures)