Many factors came together to make 2021 a record-breaking year for real estate on Nantucket. The continued value of the island as a unique destination, low interest rates and wealth accumulation fueled strong demand. Inventory was low but properties were still coming on the market even if for only a few days or in some cases hours before going under contract.
The beginning of 2022 shows some of these factors still in play but not all of them. Interest rates are threatening to increase but demand is not slowing down. Supply is a different story with inventory barely at a quarter of what it was this time last year. For homeowners who have been waiting for the right time to sell, that time has arrived. For buyers, it’s a challenge but not impossible, and now more than ever, working with an experienced real estate agent is paramount to your ability to find your dream home. In 2021, the highly skilled agents at Maury People Sotheby's International Realty not only helped more buyers find homes than any other agency on Nantucket, but they listed and sold more homes as well.
While the Nantucket real estate market is off to a strong start and comparable to the beginning of last year, inventory will play a major role in how 2022 proceeds.
For more details and market statistics please visit our research page.