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The Nantucket Life

Buying a Home

Nantucket Real Estate | The Year in Review

Another Billion-Dollar Year in Nantucket Real Estate!

Nantucket Real Estate Home Value It's official... Nantucket is still the place to buy real estate.

Every year Nantucket exhibits a new real estate trend and it's our job here at Jordan Real Estate to track Nantucket Real Estate trends so we can better serve our clients.  There have been years where antique homes on Nantucket were a trend, then other years there was a hot neighborhood on island that people were really interested in. What was 2019's real estate trend on Nantucket? It was turn-key with a pool.  (That doesn't mean that there isn't a buyer for your antique home.)

Nantucket Vacation Rentals |Jordan Real Estate
2019 was the first year of the short-term rental tax on Nantucket Rental properties. We did see a slight effect on the rental market as a result.  Most homeowners were wise to not raise rents, as the 11.7% tax was enough of an extra expense for rental clients. If you want to browse our extensive selection of Nantucket vacation home rentals, click here

Nantucket got some press in Barron's this past year which is good news for sellers on the island. Nantucket has the highest value for any vacation-home destination in the country. Nantucket county is made up of 55.5% vacation seasonal/vacation homes. A vacation home county is one described by Barron's as a county with 20% or more of its residential property being seasonal. 

Average Home Price on Nantucket Homeowners; it's always good to know the value of your home.  So if you are interested in selling, or just looking at your options, contact us today and speak with one of our Brokers about doing a complimentary comparative market analysis for your property.  Take a look at the following for a snapshot of the Nantucket Real Estate Market.  For full market reports, contact us to have one of our agents register you onto our Nantucket MLS site.  

 

 

 

Nantucket Real Estate broken down into segments. Residential real estate on Nantucket continued to be the leader. Commercial real estate on the island can be difficult yo come across because it tends to move quickly. At the time of publishing the article we have a very nice commercial plot for sale, looking for info on that, click here

Surside, Town, Mid-Island and the Cliff villages continue to show strong sales numbers on Natucket. We have included some additional charts for you to use as refrence when researching Nantucket real estate. Again, if you have any questions our experienced team is ready to assist. We are available at info@jordanre.com or by phone (508)228-4449

 
 

 

Fall on Nantucket

Fall is still busy here on Nantucket.  Recently
we have been whacked with a few storms but don't worry, we're still afloat and it'll take more than a nor'easter to stop our real estate market.  Now that the peak season is over, it's time to start thinking about next summer.  The earlier you book your Nantucket Vacation, the more options you will have to choose from.  If you are ready to move on from renting to ownership, the fall is an excellent time to explore the Nantucket Real Estate market.  Prospective buyers won't be distracted by the beach, and properties are easier to show this time of year.  If you're visiting the island this off season just to enjoy the serenity and salty air or with purchasing Real Estate in mind, we have two great downtown apartments available to rent on a nightly basis.  They are an ideal central hub from which to kick off your real estate pursuit.  Lastly, homeowners, please remember to register your rental property with MassTaxConnect.  If you have any questions about this, please contact our Rental Manager, Rachel, at our office and she will be able to help you through it.

 

Spring has Sprung

 

One of the signs that spring has sprung is the increase in Nantucket Real Estate Sales inventory.  Many sellers opt to unlist their properties for the winter.  This is due to the off season for tourism, as well as homes being closed down for the winter.  But it starts to smell like Spring and suddenly there’s a lot for sale.

We’ve had a lot of questions about the rental market this year.  What I’ve noticed is that during the off season, the rental market comes and goes in waves.  Right when the Steamship puts the car ferry tickets on sale everyone starts thinking about their Nantucket getaway.  After that initial flurry of rentals come in we go into a few dormant weeks.  Another wave occurs around tax time when folks get their tax returns.  A third wave hits when Spring officially arrives.  I don’t mean arrives on the calendar, I mean when the sun starts to feel warm on your skin, and the daffodils are in full bloom and it feels like summer is right around the corner.  There have been many questions on the effect of the new rental tax.  I think it might be a little early to tell.  I think next season we will have a better take on how the tax has effected the rental market.  The fact is… it has to be paid.  Uncle Sam doesn’t do negotiations.

Happy Stroll!

 

The Holiday Season is upon us.  We end the season here on Nantucket the same way we begin. Wine festival followed abruptly by Figawi, and before you know it, Thanksgiving followed immediately by Stroll.  Black Friday for us marks the day Christmas goes into overdrive.  The trees go up in a day, we hold a jolly ceremony to light them all at once and then the week leading up to Stroll they are decorated.  It’s a real bona fide Santa’s workshop here on island.  An entire month of merriness, shopping and parties. You can smell balsam fir all the way to ‘Sconset.  Nantucket is the closest you can get to Whoville on the entire east coast (this weekend you may even see outfits inspired by Dr. Seuss).  If you’re looking for real estate, this is a great time to see the town lit up, and how the community turns out (locals and visitors) to celebrate how special the island is, and that we’re not just a summer destination.

The proposed rental tax was not passed in 2018 even though the State Senate and House passed it.  Governor Baker didn’t sign the bill but sent it back with revisions.  It is unlikely that it will be passed before the new term in 2019.  If the bill passes early in 2019 there would likely be a grace period until at least March for any new leases.  The commonwealth doesn’t have the infrastructure in place to start the process currently, and towns haven’t voted on what they might charge.  We will continue to keep you informed of this upcoming rental tax.

That said, it’s a good idea to get leases signed for the Summer of 2019 as early as possible.

Stop by 8 Federal Street this weekend if you have any questions or just to say hi to our in-house Nantucket experts.