Nantucket Real Estate Update - February 2014

8/12/2019 Nantucket Real Estate Update - February 2014

http://slidepdf.com/reader/full/nantucket-real-estate-update-february-2014 1/3

Properties

Sold $ Volume Sold

Properties

Sold $ Volume Sold

# Properties

Sold $ Volume Sold

Land 5 $7,965,000 4 $3,870,000 25.00% 105.81%

Commercial 2 $2,658,000 0 $0 0.00% 0.00%

Multi-Family 2 $3,263,750 4 $2,327,000 -50.00% 40.26%

Condos & Co-op 1 $359,000 2 $485,000 -50.00% -25.98%

Single-Family 20 $46,747,500 12 $21,069,000 66.67% 121.88%

30 $60,993,250 22 $27,751,000 36.36% 119.79%

20132014 % Of Change From Last Year

February 2 14 Activity Com pared to February 2 13 Activity

Data source: LINK Nantucket, Nantucket Listing Servic

The Nantucket Real Estate Report

Significant increase in closings andaccepted offers over last February.

February 2014

Having already celebrated three holidays in th

shortest month of the year, those of us involved in island re

estate had one more reason to celebrate this February - our brisk salactivity. With a 136% increase in transactions and 220% increase

dollar volume over February 2013’s sales, last month was the seconmonth in a row real estate activity on Nantucket surpassed that seen 2013.

With 30 closings, 15 accepted offers and only 1 price adjustmenalmost $61M in real estate changed hands in February. Another $34Mwas placed under agreement and $13M received acceptoffers...making February 2014 the busiest February since 2006 whe34 sales resulted in almost $64M in volume.

February’s impressive results pushed sales transactions 11.8% highand dollar volume 7% higher than was experienced during the sam

90 day period last year (in spite of December 2012‘s unprecedentesales activity). Last month’s dramatic increase in sales and solnumber of accepted offers were a welcome relief in what traditionally viewed as a slow real estate month on-island.

Dollar Volume and Number of Properties Sold By Month

(compared to previous year)

Three months of solid sales now puts 201411.8% ahead of 2013 in sales and 7.1%

ahead in dollar volume or this time eriod.

48% of transactions were between $1M and $2M.

At A Glance...

N u m b e r O f P r o p e r t i e s S o l d



The Nantucket Real Estate Report

10 South Beach StreetNantucket, MA 02554

Telephone: 508.325.5800 | Fax: 508.228.612

www.leerealestate.com

!"##"$%&'()*

!"#$%&# () * (+" ,-%" .*/" *."+0& ()&"1."2-/&*3%" -+ &4" 5-.#& 678 () * ,-%"6 9

#1"/$%*&-+: 4(; <=7> ;-%% 5-+-#4? 3*#"(+ (+ -&# 5-.#& &;( ,(+&4#? ;($/".&*-+%@ 3" *3#$.2? 3$& -) &4" %*#& A2*@# -# *+@ -+2-/*&-(+ <=7> -# *%."*2%((B-+: %-B" * ;-++".6 C+ &4" %*#& <D? 8*+2 A= 2*@# ,(." 2(%%*.# &.*2"2 4*+2)(. ."*% "#&*&" &4*+ 4*# 3""+ #""+ #-+<==8 E)(. &4" #*," &-," 1".-(2#F6

G.(, <==8 &4.($:4 <=77 &4" +$,3". %*+2 *+2 ."#-2"+&-*% &.*+#*/&-(+*H".*:"2 %"## &4*+ I=J *+2 8=E."#1"/&-H"%@F () ;4*& (//$.."2 -+ <==

C+ <=7K &4(#" +$,3".# .(#" &( L8J )%*+2 &.*+#*/&-(+# *+2 LD6>J )(."#-2"+&-*% &.*+#*/&-(+#6 M+2 &4-,1.(H","+& 2-2+0& #&(1 &4"."6

N-&4 */&-H-&@ *+2 2(%%*. H(%$," $1 &45-.#& &;( ,(+&4#? %(; -+H"+&(.@ %"H"*+2 (+%@ (+" 1.-/" ."2$/&-(+ -+ G"3.$*.AKJ () 5-+*% *#B-+: 1.-/" -# +(; &4+(., )(. ."#-2"+&-*% 1.(1".&-"#? +(& &4"O/"1&-(+666*+2 &4*&0# * :((2 &4-+:6

C&0# 3""+ #*-2 P*+&$/B"& -# (+" () &4" %*

1%*/"# *))"/&"2 3@ *+ "/(+(,-/ 2(;+&$*+2 (+" () &4" 5-.#& &( ."3($+26 Q*#"2 (;4*& ;" 4*H" #""+ &4-# 1*#& A= 2*@# ;--#%*+2 ."*% "#&*&"? -& R$#& ,-:4& 3" &.$"6

!"# !%#&"

Residential Sales:

G"3.$*.@0# <K ."#-2"+&-*% #*%"# ;"." %(;". &4*+ &4" K7 #(%2 -+S*+$*.@ 3$& &(&*%"2 TI68U E7<68JF ,(." -+ &(&*% 2(%%*. H(%$,"6N4-%" K ."#-2"+&-*% 1.(1".&-"# #(%2 )(. ,(." &4*+ T>U? &4"."

;"." +( #*%"# (H". TD6LU6 G(. &4" 5-.#& &-," -+ ,(+&4#? &4" ,(#&*/&-H" #":,"+& ;*# 3"&;""+ T7U *+2 T<U ;-&4 77 #*%"# &*B-+:1%*/" -+ &4-# 1.-/" .*+:"6 V(+2( *+2 U$%&-W)*,-%@ #*%"# ,*2" $1L6<J () ."#-2"+&-*% /%(#-+:#? %(;". &4*+ S*+$*.@0# A6LJ %"H"% 3$&(H". &;-/" &4" 2(%%*. H(%$,"6

Land Sales:

G"3.$*.@0# I %*+2 #*%"# &(&*%"2 *%,(#& TDU -+ H(%$," E,*B-+:$1 7868J () &(&*% &.*+#*/&-(+# *+2 7K67J () &(&*% #*%"# H(%$,"F*+2 ;*# (+" &.*+#*/&-(+ #4(.& () S*+$*.@0# &.*+#*/&-(+ %"H"% 3$&<KJ *3(H" -&# 2(%%*. H(%$,"6 N-&4 ID 1.(1".&-"# /$.."+&%@ (+W,*.B"&? -+H"+&(.@ /(+&-+$"# &( .",*-+ )*-.%@ #&*3%" ."1."#"+&-+:*3($& * L7X> ,(+&4 #$11%@ () %*+2 /$.."+&%@ *H*-%*3%" E3*#"2 (+&4" */&-H-&@ #""+ -+ &4" %*#& 7< ,(+&4#F6

V(,,"./-*% 9*%"#Y

< /(,,"./-*% 1.(1".&-"# #(%2 -+ G"3.$*.@ &(&*%-+: *%,(#& T<6LUET<6<IU *+2 T>=DZF6 N-&4 7A /(,,"./-*% 1.(1".&-"# #"%%-+: -+&4" %*#& 7< ,(+&4# EA -+ &4" %*#& 8 ,(+&4#F *+2 K /$.."+&%@$+2". *:."","+&? (+%@ D /(,,"./-*% 1.(1".&-"# .",*-+ (+W,*.B"& W +(+" () ;4-/4 *." -+ &4" /(." /(,,"./-*% 2-#&.-/&6

Availability:

[+ G"3.$*.@ <D&4

? &4"." ;"." <AI %-#&-+:# (+W,*.B"&? <<8 ();4-/4 ;"." ."#-2"+&-*%\ /(,1*."2 &( K7< %-#&-+:# *& &4" "+2 ()S*+$*.@ E<KA ."#-2"+&-*%F6 [) &4" <L 1.(1".&-"# 3.($:4& &(,*.B"& -+ G"3.$*.@ <A68J ED %-#&-+:#F ;"." 1."H-($# %-#&-+:#3.($:4& 3*/B (+W,*.B"& *H".*:-+: <=7 2*@# (+W,*.B"&6

http://www.leerealestate.com/





Land Parcels Selling Price

% of Final

Asking

Price**

% of

Original

Price**

Lot size

(sq. ft.)

Price per

sq. ft.

Days On

Market

19 Black Fish Lane $1,070,000 100.00% 100.00% 20,038 $53.40 *N/A

15 Black Fish Lane $1,150,000 *N/A *N/A 20,038 $57.39 *N/A

18 Nanahumacke Lane $1,295,000 *N/A *N/A 12,632 $102.51 *N/A

12 Middle Valley Road $1,850,000 94.87% 82.22% 67,518 $27.40 200

3 Lenox Way $2,600,000 *N/A *N/A 196,891 $13.21 27

Total Land Sales $7,965,000

Average: $1,593,000 97.4% 91.1% 63,423 $50.78 114

Median Of All Land Sales: $1,295,000 97.4% 91.1% 20,038 $53.40 113.5

Commercial Properties Selling Pr ice

% of Final

Asking

Price**

% of

Original

Price**

Price

per sq. ft

(space)

Space

(sq. ft.)

Days On

Market

14 Amelia Drive # 2 $408,000 *N/A *N/A $594.75 686 *N/A

22 Federal Street $2,250,000 *N/A *N/A $789.47 2,850 *N/A

Total Commercial Sales $2,658,000

Average: $1,329,000 *N/A *N/A 692 1,768 *N/A

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

42G Nobadeer Farm Road $359,000 100.00% 100.00% $257.90 Condo 2 1,392 2 2.5

22 Arkansas Avenue $460,000 94.85% 94.85% $319.44 3,485 13 1,440 3 2

10 Miller Lane $490,000 98.99% 98.99% $655.08 26,092 1 748 2 1

81 Fairgrounds Road $550,000 79.14% 73.83% $348.10 Condo 180 1,580 3 210 Pinkham Circle $1,055,000 *N/A *N/A $584.16 20,473 *N/A 1,806 2 2

70 Orange Street $1,115,000 93.31% 92.92% $568.88 5,793 212 1,960 3 3.5

3 Winter Street $1,262,500 97.49% 97.49% $1,156.14 4,452 42 1,092 4 2

23 Tennessee Avenue $1,300,000 *N/A *N/A $1,259.69 12,197 *N/A 1,032 3 1

11 Union Street $1,413,750 87.00% 87.00% $599.05 4,792 423 2,360 5 4

49 Wauwinet Road $1,495,000 100.00% 54.46% $482.26 65,340 2343 3,100 5 4.5

6 Sheep Commons Lane $1,670,000 88.13% 88.13% $754.29 27,007 131 2,214 3 2.5

55 Hummock Pond Road $1,785,000 105.06% 105.06% $523.77 43,560 0 3,408 4 3

114 Main Street $1,850,000 105.71% 105.71% $581.76 6,098 69 3,180 5 2

37 Starbuck Road $1,850,000 97.63% 97.63% $852.14 72,310 267 2,171 3 3

56 Meadow View Drive $1,900,000 *N/A *N/A $1,466.05 43,560 *N/A 1,296 4 4

6 Milestone Crossing # $2,200,000 *N/A *N/A $406.43 120,226 *N/A 5,413 6 6.5

86 Madaket Road $2,350,000 94.19% 94.19% $1,179.72 90,605 112 1,992 2 3

70 Vestal Street $2,390,000 92.10% 92.10% $730.66 36,590 249 3,271 5 5

5 Pilgrim Court $2,750,000 91.82% 92.13% $891.12 8,015 216 3,086 4 4.5

6 Maxey Pond Road $3,200,000 *N/A *N/A $926.19 92,783 *N/A 3,455 4 3.5

7 Maxey Pond Road $4,825,000 96.60% 96.60% $955.45 103,237 190 5,050 6 6.5

200 Polpis Road # $5,400,000 *N/A *N/A $545.45 326,700 *N/A 9,900 5 6.5

25 & 27 Cliff Road $8,700,000 88.78% 88.78% $1,228.64 24,394 348 7,081 9 8.5

Total Residential Sales $50,370,250

Average: $2,190,011 94.8% 91.8% $750.97 54,177 282 2,958 4 4

Median Of All Residential Sales: $1,785,000 94.8% 94.2% $655.08 27,007 180 2,214 4 3

N/A* - Not Sold Through A Real Estate Firm ** Excludes Properties Not Sold Through A Real Estate Firm

Properties Sold In February 2014(excluding foreclosures)

Nantucket Real Estate Update - February 2014

Documents

Transcript of Nantucket Real Estate Update - February 2014