As the first quarter of 2022 draws to a close low inventory continues to have a major impact on the Nantucket real estate market. At the end of Q1 2021 there were 142 listings on the market (down 50% from the previous year), there are currently 71 properties on the market (end of Q1).
While the number of sold properties year to date is just about half compared to last years total, dollar volume is only down 33% as average and median sold prices are up 30% and 20% respectively. These substantial increases can be attributed to not only low inventory, but also the continued high demand for Nantucket real estate.
Right now is an extraordinarily good time to sell your home.
- Inventory is extremely low, down 57% from last year, creating less competition.
- Demand is still very high, and properties are selling fast. The average time a property is on the market has decreased 60% from last year.
- Average and median sold prices are up 30% and 20% respectively since last year.
Maury People Sotheby's International Realty is the leader in Nantucket Real Estate.
- We led the market in both number of transactions closed, and dollar volume sold on Nantucket for all of record breaking 2021 as well as the first quarter of this year.
- As a Sotheby's affiliate nothing compares to the expertise and exposure we can offer.
- Most importantly, our team of dedicated agents and support staff continue to provide unparalleled service and understanding of the Nantucket real estate market.
Thinking about selling your home? The first step is to connect with us and one of our professional real estate agents.