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Data source: LINK Nantucket, Nantucket Listing Service

The Nantucket Real Estate Report

Noteveryonewasatthebeach orshoppingMainStreeonNantucketthisAugust;severalwereverybusybuyingpropertyTheresult?August2013endedupthebusiestAugustin13yearfor the number of properties sold and being the highest dolla

volumeAugustsince2007.

With 50 closings, 31 accepted offersand 62 price adjustmentover$104Min real estatechangedhands, another $63.7Mwenunderagreement and another$69M in properties had accepteoffers...itwasabusymonth.

Contributing to the months record-breaking pace was a singltransaction for multiple properties amounting to over $30MWithoutthis transaction, August2013wouldhavematched200for the number of properties sold but ended up 26.8% belowAugust 2012s dollar volume and be 10.4% below June 2013

dollarvolume. Asseenformostof theyear,sales under the$1Mmark remained strong.With 44%of transactions and 11.2%othemonths dollarvolume,thissegmentofthemarketmayhavdeclinedslightlyinAugust,comparedtopriormonths,butisstillmajorportionofsales.

CLICKHEREFORTHECOMPLETE

LISTOFPROPERTYTRANSFERS

Dollar Volume and Number of Properties Sold By Month

(compared to previous year)

AUGUSTS10LARGESTTRANSACTIONS

August 2013

7OldWestmoorFarmRoad$2,200,000

132OkorwawAvenue$2,130,229

Multipleparcels$30,596,600

36BrewsterRoad$5,150,000

108CliffRoad$4,050,000

1OspreyWay$3,400,000

2&18KimballAvenue$8,900,000

100TomNeversRoad$5,000,000

15LyfordRoad

$2,250,000

62WalshStreet$2,300,000

Sold $ Volume Sold Sold $ Volume Sold Sold $ Volume So

Land 14 $41,049,106 5 $6,077,650 180.00% 575.41%

Commercial 0 $0 1 $1,417,500 -100.00% -100.00%

Multi-Family 1 $730,000 0 $0 0.00% 0.00%

Condos & Co-op 3 $1,900,500 2 $858,700 50.00% 121.32%

Single-Family 32 $60,395,328 28 $92,982,512 14.29% -35.05%

50 $104,074,934 36 $101,336,362 38.89% 2.70%

20122013 % Of Change From Last Yea

August 2013 Activity Compared to August 2012 Activity

http://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfershttp://www.nareb-online.com/content/property-transfers

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Notquitewhatitseems...Augustsvolumeof$104Mmayhavemadeitthehighestdollarvolumemonththisyear,butalargeportionitcamefromthesaleof75individualproperties(WalterGlowackis)soldtoonebuyer(RichmondGreatPoDevelopment) in a packaged deal for $30.5M. Because of this, Augusts rather optimistic numbers a

somewhatskewed. WithouttheGlowackisale,Augustsdollarvolumeof$74M+wouldstillrank2ndhighesince2008(behindAugust2012),butwouldnotbenearasencouragingasitiswithitincluded.

With 50 closings lastmonth, year to date sales againexceeded2012YTDsales (254 versus 239) for tsecondmonthinaroweventhoughdollarvolumecontinuedtolagbehindbymorethan9%($374Mvers$412Min2012).Interestingly,notsince2007havewehadahigherlevelofsalesactivityforthistimeperio

Whilepropertysalesbelowthe$1MlevelcontinuedtobestronginAugust,therewasanoticeableincreasesalesbetween$1Mand$2.5M.With23salesinthispricerange,representing46%ofsalesandalmost34%dollarvolume,itwasthehighestlevelofactivityinthispricerangesinceDecember2012.

LandSales:

Lastmonths88landtransfers totalingover$41M(makingup28%ofthetransactionsand39.44%oftosalesvolume),wasduelargelyinparttotheGlowackisalereferredtoearlier.Excludingthatsale,therewe13landtransactionstotalingmorethan$10.4MandAugust2013wouldstillhavebeenthebusiestmonthflandsalessinceDecember2012-inbothnumberanddollarvolume.

ThroughAugust31st,49parcelsoflandhavetradedhands(withoutdividinguptheGlowackisale-124witcomparedto25in2011and2012,20in2010,11in2009,15in2008and34in2007.Iflandsalesareanindicationofwhatistocome,theprospectsforalotofnewconstructionappeartobeprettygood.

There are still 74 land-parcels currentlyon-market with6of them largerthan5acres. Thelargestparcurrentlylistedisstillthe21acreparcelinShimmo.Otherlandparcelscurrentlyavailable:

22propertiesbeinglessthan11,000sq.ft.insize-averageaskingprice$852,54215parcelsbeingbetween11,000sq.ft.and21,000sq.ft.,-averageaskingprice$1,357,80019parcelsbetweenacreand2acres-averageaskingprice$2,082,789($1.26Mwithoutthe$16.9M,1.23acr

HeatherLaneparcel)12propertiesbetween2and5acres-averageprice$2,231,769

CommercialActivity:

NocommercialpropertiessoldinAugust.thoughonecommerciallyzonedgaragehadanacceptedoffer.

Commercialpropertiescontinuetobelimited,withonly16listedforsaleandonlythreeon-marketlesstha60days-14BSparksStreet,44CenterStreetand117PleasantStreet.

The Nantucket Real Estate Report

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es ent a a es:

With the dramatic increase in land sales last month, the 36residential properties sold in August represented only 72% ofsales activity (80.7% in July) and $63M, or 60.6%, in dollar

volume(87.4%inJuly)forthemonth.IftheGlowackitransactionwereviewedasindividualparcels,thenthepercentofresidentialsaleswouldactuallydropto28.6%ofthemonthstransactions.

Atmonth-endtherewere370single-familyproperties listed forsale(383attheendofJuly).Atthislevel,thereiscurrentlya19-month supply of inventory on-hand, based on the irst eightmonths of activity, or a 12-month supply based on Augustsactivityof31sales.

With4salestotalingover$2.6M,condos,co-opsandmulti-familydwellingmade up8% ofAugusts salesactivityyetonly2.5%of

the dollar volume. Year to date, Condo, co-op and multi-familysalesaresigniicantlyaheadof2012ssales(43salesversus29in2012) and almost 25% higher in total dollar volume ($22.3Mversus $16.8Min2012).Currently, thereisa6-monthsupplyofcondo, co-op andmulti-family inventoryon-market (32 listings)withprices ranging from$274Kfora studiounitonWashingtonStreetto$2.67Mfora4bedroom/4bathcondoonStillDock.

Days On-Market:

On average, the 29 residential properties sold through a realestate irm were on-market 171 days with two properties on-

marketmorethan2years.

Residential Pricing:

There were 62 price reductions during the month and 26acceptedofferscomparedto68reductionsand39acceptedoffersin August 2012. August price reductions resulted in a drop of9.4%,onaverage,fromoriginalpricing.

Onaverage,residentialpropertiesclosedat90.7%ofinalaskingprice, 87.1%oforiginal askingpriceand103%oftheirassessedvaluationinAugust(forthe30propertieswithacurrentassessedvaluation).

LEE REAL ESTATE A higher level of Service

Price Range Total $ Volum

< $750K $4,529,50$751K - $999K $5,067,00

$1M - $1.499M $4,740,00

$1.5M - $1.999M $15,609,10

$2M - $2.499M $6,580,22

$2.5M - $2.999M $

$3M - $3.499M $3,400,00

$3.5M - $3.999M $

> $4M $23,100,00

Total $63,025,82

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YTD Activity:

With2/3oftheyearbehindus,2013hasshapeduptobeaverygoodyearforthosewantingtopurchasepropertybelowthe$1M

dollarmark.Notonlyhavetheybeenabletoindawidevarietyofavailablepropertiesatthispricepoint,theyhavealsofoundvaluein the 158propertiespurchased. (vs 116in2012, 106in 2011and86in2010).

Noticeably,therewasan increase in salesactivityinthe$1Mto$2.5MpricerangeinAugustbringingYTDactivity to within 5

sales of 2012s 83transactions. Salesinthe $2.5M to $5Mrange are s til l 7transactions behindthe25seenin2012,thoughbothsegmentsareimproving.

Yearto date, thenumberofsalestransactionscurrentlyexceedsthenumberoftransactionsforthesametimeperiodineachyearsince2006,thoughweremain9.2%behind2012sdollarvolume,27.6%aheadof2011svolume,25%aheadof2010svolumeandalmost114%above2009sdollarvolume.

There have been 6 transactions over $7.5M this year (totaling$94.2Minvolume)comparedto7in2012totalingalmost$75M,2in2011,3in2009and2010and10in2008.Largedollarsaleshavecontributedgreatlytothisyearsoverallresults.

Availability:

OnAugust31st, therewere480listingson-market,398ofwhichwereresidential;comparedto502listingsattheendofJuly(421residential). Average time on-market for these propertieswas264days(197dayswiththe16propertieson-marketmorethan3

yearsomitted).Ofthe67propertiesbroughttomarketinAugust,only 21% (14 listings)were previous listings brought back on-market(comparedto40-60%earlierthisyear).

58 Main StreetNantucket, MA 02554

Telephone: 508.325.5800 | Fax: 508.228.612

www.leerealestate.com

LEE REAL ESTATE A higher level of service

Bottom-line:

Thenumberofpeopleon-islandmayless withsummer over, butNantuckereal estate market remains brisk wnewpropertiescomingtomarket,offebeing made/accepted and salesclosinSummermaybeover,butthebuyingasellingofrealestatecontinues.

Inthelast90days, saleswereupalmo32% over last year, nearly 50%highthan in 2011 and 70% higher than2010.Whiledollarvolume year todamay still be below 2012 levels, salactivityisupanditdoesntlook likeitgoingtoslowdownanytimesoon.

Salesunderthe$1Mmarkcontinuetostrong, butas apercent ofmarketshahasbeguntodropduetoincreasedsalactivityinthe$1Mto$2.5Mrange.Whthishigher-dollarsegmentofthemarkhas beenslow this year, the7 acceptoffers for properties priced $1M$2.5M should be encouraging news fowners wanting/needing to sell at th

pricepoint-thoughyoustill needtofairlypricedifyouseriouslywanttose

DanDunl

www.leerealestate.com

http://www.leerealestate.com/http://www.leerealestate.com/http://www.leerealestate.com/http://www.leerealestate.com/http://www.leerealestate.com/http://www.leerealestate.com/

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Land Selling Price

% of Final

Asking

Price

% of

Original

Price

Lot size

(sq. ft.)

Price per

sq. ft.

Days On

Market

10 Backus Lane, Lot #4 $155,000 88.57% 64.58% 14,375 $10.78 673

10 Backus Lane, Lot #3 $175,000 100.00% 72.92% 11,326 $15.45 686

Lot 204 Arrowhead Drive $210,000 100.00% 100.00% 5,227 $40.17 N/A*

Lot 203 Arrowhead Drive $210,000 100.00% 100.00% 5,227 $40.17 N/A* $40.17 Median per sq. ft. cost

10 Salros Road $282,500 100.00% 100.00% 9,148 $30.88 N/A* $83.17 Avg per sq. ft. cost

18 Cherry Street $320,000 97.26% 97.26% 5,227 $61.22 153

71 Vestal Street $675,000 88.24% 84.38% 20,038 $33.69 482

64 Cliff Road (part of) $1,000,000 100.00% 100.00% 6,098 $163.98 N/A*

30 Main street (part of) $1,000,000 100.00% 100.00% 38,333 $26.09 N/A*

13 Derrymore Road $1,025,000 100.00% 100.00% 4,792 $213.92 N/A*

64 Cliff Road (part of) $1,200,000 100.00% 100.00% 6,098 $196.77 N/A*

101 Cliff Road $1,900,000 92.91% 92.91% 31,581 $60.16 24

62 Walsh Street $2,300,000 92.00% 92.00% 8,712 $264.00 82

0 Multiple Addresses $30,596,600 100.00% 100.00% 4,356,000 $7.02 N/A*

Total Land Sales $41,049,100 98.1% 87.32% sold throu h a real estate firm

Residential Properties Selling Pr ice

% 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

19 Autopscot Circle $885,000 93.16% 93.16% $397.75 Co-op 55 2,225 3 3

58A Orange Street $310,000 100.00% 100.00% $344.44 871 N/A* 900 0 0

37D Old South Road # 12 $287,500 100.00% 100.00% $431.03 Condo N/A* 667 1 1.5

23 B Rhode Island Avenue $728,000 91.57% 91.57% $712.33 Condo 81 1,022 2 1

5 Pakanoket Lane $730,000 97.33% 97.33% $369.43 9,148 71 1,976 5 4

49A Pleasant Street $322,000 65.05% 65.05% $154.96 4,792 111 2,078 0 0

9 Twin Street $500,000 100.00% 100.00% $811.69 Unknown N/A* 616 1 1

41 Macys Lane $520,000 93.02% 80.62% $416.67 7,405 1050 1,248 3 2

4 Hull Lane $552,000 96.00% 96.00% $236.40 9,148 11 2,335 6 3

11 Bailey Road $580,000 96.83% 94.31% $345.24 10,454 140 1,680 5 2

4 Falcon Court # $810,000 100.00% 100.00% $426.09 5,227 N/A* 1,901 3 2.5

12 Tripp Drive $815,000 100.00% 100.00% $261.89 89,734 N/A* 3,112 5 3.5

3 Falcon Court $838,000 95.34% 93.74% $411.59 5,641 146 2,036 3 2.5

2 Flintlock Road $850,000 96.05% 96.05% $487.39 53,143 33 1,744 3 2

5 Killdeer Lane $869,000 100.00% 100.00% $476.95 5,001 0 1,822 3 2.5

14 Dukes Road $1,040,000 96.39% 96.39% $1,287.13 20,007 256 808 1 1.5

6 Nichols Road $1,050,000 93.33% 89.36% $646.55 6,098 192 1,624 3 2.5

200 Hummock Pond Road $1,300,000 92.92% 72.42% $973.05 79,998 356 1,336 3 2

5 Heller Way $1,350,000 90.00% 90.00% $595.24 33,541 11 2,268 3 2

5 New Mill Street $1,500,000 88.50% 81.08% $461.40 7,841 401 3,251 4 3

24 Walsh Street $1,580,000 93.22% 87.78% $680.74 4,792 110 2,321 5 3.5

87 Millbrook Road $1,596,600 100.00% 100.00% $613.84 84,942 N/A* 2,601 3 3.5

15 Finback Lane $1,600,000 98.46% 98.46% Unknown 5,663 28 Unknown 4 4.5

5D Stone Barn Way # 13 $1,750,000 100.00% 77.78% $857.42 Condo 395 2,041 2 2.5

11 Monomoy Road $1,800,000 78.26% 78.26% $886.70 30,056 133 2,030 3 3

6A Saratoga Lane $1,812,500 95.65% 95.65% $604.17 Co-op 299 3,000 4 4.5

1 Delaney Road $1,975,000 99.00% 99.00% $658.33 4,792 23 3,000 4 4.5

6 Pond View Drive $1,995,000 100.00% 100.00% $831.25 78,408 36 2,400 5 4

12 Okorwaw Avenue $2,130,229 100.00% 100.00% $459.30 128,938 N/A* 4,638 5 3.5

7 Old Westmoor Farm Road $2,200,000 44.04% 44.04% Unknown 20,909 0 Unknown 7 7.5

15 Lyford Road $2,250,000 100.00% 59.29% $785.07 10,454 784 2,866 3 3.5

1 Osprey Way $3,400,000 92.02% 92.02% $930.23 200,376 94 3,655 4 5.5

108 Cliff Road $4,050,000 86.26% 86.26% $769.52 16,988 71 5,263 5 5.5

100 Tom Nevers Road $5,000,000 91.16% 91.16% $982.32 227,819 23 5,090 6 5.5

36 Brewster Road $5,150,000 92.38% 92.38% $1,111.83 99,752 27 4,632 6 4.5

2 & 18 Kimball Avenue $8,900,000 100.00% 100.00% $4,339.35 92,783 30 2,051 5 3

Total Residential Sales $63,025,829 90.7% 87.1%

Average: $1,750,717 $728.16 43,701 171 2,360 4 3

Median Of All Residential: $1,325,000 96.02% 94.02% $609.00 13,721 2,065

*Unknown - Not Sold Through A Real Estate

Properties Sold In August 2013(excluding foreclosures)