Nantucket Real Estate Market: 1st Quarter Summary

As we reflect on the first quarter of 2024, it's evident that the Nantucket real estate market is poised for another stellar year.

Despite a slight decrease in the number of properties sold compared to last year's first quarter, both average and median sales prices have surged, marking a significant increase of 37.5% and 66%, respectively. Although a single home sale exceeding $25 million influenced the average, even after its exclusion, we still observe a substantial 22% rise in the average sale price.

As we enter the listing season, demand remains robust, and average selling prices continue to climb. A notable distinction this year is the 56% increase in inventory compared to last year. This abundance of listings bodes well for buyers, potentially catalyzing more sales. However, the extent of its impact on demand and prices remains uncertain. Nonetheless, all indicators suggest that 2024 holds promise for both buyers and sellers in the Nantucket real estate market. As Nantucket's premiere real estate agency, Maury People Sotheby's International Realty, we stand ready to assist you in navigating this dynamic market landscape.

We have been adding new listings in all areas of the island from in Town condos to waterfront estates. View our Exclusive Listings. 


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