With the first half of 2022 behind us we can say with confidence that we are looking at another great year. That being said, compared to the first half of 2021 transactions for this year are down 40% and dollar volume is down 23%. Are we going to say the market is cooling off? Not a chance. Apart from 2021, Nantucket had the strongest first half of the year on record. In fact, average and median home sale prices are up 29% and 16% respectively. Inventory is a lower than last year with 22% fewer homes coming on the market which may be the only thing preventing a repeat of 2021.
While the media is reporting a housing market slowdown due to higher interest rates and the possibility of a recession, the Nantucket real estate market remains very strong. While these issues may affect the Nantucket market, history has shown that the timing and impact will be different than in other areas. Nantucket's unique and complex market is why, whether you are buying or selling, working with an experienced real estate agent is paramount.
For more detailed, interactive market information visit our market research page that lets you view market statistics based on up to date market data.
We add new listings on a regular basis that include a wide variety of price ranges and types.