Jordan Real Estate is a Realtor Agency and our Brokers and Sales Associates are members of the National Association of Realtors, the Massachusetts Association of Realtors, the Cape Cod and Islands Association of Realtors, and the Nantucket Association of Real Estate Brokers.
Our team of brokers and agents will prepare a full written presentation with an opinion of value based on current market data in order to establish the correct pricing of your Nantucket property
Q1 Sales Market Snapshot
Although we have entered 2021 with pandemic fatigue, home buyer activity has not slowed down. This years first quarter is showing rapid growth in home sales and prices as low inventory combined with high buyer demand creates strong competition. Home inventory will increase but it will remain a sellers market. Interest rates may rise slightly but are expected to remain relatively low.
The Year In Review
2020……Do we really need a recap? I certainly don’t need to reminisce, and I doubt anyone needs or wants a reminder. 2020 happened. Let’s move on.
One of the bright spots of 2020 was the Nantucket Real Estate Market. 2020 brought record numbers in all categories. We had a record number of sales (679) resulting in a record dollar volume year ($1,895,472,500). It is hard to boast an incredibly lucrative year when many other industries did not garner the same results of the global pandemic. Fortunately for Nantucket, the world’s reaction to flee from congested cities and small apartments led to a housing boom and more and more families calling Nantucket their long-term vacation/work from home destination. Hopefully, this intense market helped keep Nantucket’s other industries afloat. This past summer, it felt like we ran out of homes to both sell and rent, and the minute they became available they were scooped up. Things got aggressive and the way things are going this winter, the coming season is looking like it will be more of the same.
We have already had numerous requests for rentals this upcoming summer and it seems we get more everyday, so if you are a homeowner that can’t be here for the entirety of the summer, contact us and we can walk you through the rental process. We don’t have a crystal ball, but the sales market doesn’t look like it’s going to change much… Nantucket is a hot commodity. If you are thinking about buying, selling, or upgrading, contact us today to speak with one of our knowledgeable brokers who will help make the process easy.
Q3 2020 Real Estate Market Snapshot
We are running out of inventory! Nantucket's Real Estate market is on fire. We have already reached 2019's yearly dollar volume with still another three months to go. Who knew what to expect when the pandemic hit in March, but no one could have predicted this. The statistics indicate that the biggest demand has been for properties in the five to ten-million dollar range. Family compounds have been a big hit this summer for both rentals and sales. Travelers wanted the whole nine yards so they didn't have to leave their COVID-free bubbles. They wanted a pool, an office, a cottage for the in-laws, a weight room, and a game room for the kids. People wanted turn-key and as soon as possible. We saw many life-long rental clients pull the trigger and buy something so they could stay for the duration of the summer and into the foreseeable future. Rentals with an office was a newly marketable amenity this summer.
Traffic has finally slowed down for sure around here. There is more parking available, more variety at Stop and Shop, more room to spread out at the beaches, but there are still plenty of buyers making trips to find their summer sanctuary. Call us today if you are looking for your summer 2021 rental, your forever home, or would like an opinion of value on your Nantucket property. Inventory is low and demand is high. A great time to list and sell!
Q2 2020 Real Estate Market Snapshot
Coming in a little late, but better late than never. This summer has been BUSY!! When looking at the statistics remember that two full months of the second quarter, we were in the midst of a global pandemic. I believe the next quarter is when we will see the real intensity of our current market. With the pandemic came a lot of uncertainty. There is still uncertainty, but the one thing that is absolutely clear is that we have been handed a new and different lifestyle. Families have been able to slow down and spend more quality time with each other. People that live in cities and hot spots started to think about moving to places with more land and more room to work and play. We have learned to work remotely, go to school remotely, and order anything and everything online. Folks from all over have realized that they don't have to go to an office to get things done. People have come to grips with the fact that they may never have to go to a city office in the middle of the summer again. Instead they can work from their new coastal vacation home on Nantucket. Nantucket real estate is strong and selling quickly, so if you've had these same thoughts get in touch with one of us today!
Q1 2020 Real Estate Market Snapshot
We have some good news from 26 Miles out to sea.
It’s hard to believe that the first quarter is complete and while it seems like the world has stopped spinning, Nantucket is proof that it still is. The first quarter shows that we are right in line with 2019 which proved to be a billion dollar year.
While we don’t have a crystal ball, the Jordan team’s general consensus moving forward into Quarter 2 is that the market will likely slow down due to this pandemic but, Nantucket is like a Jeep Wrangler: It holds it’s value. We have found that visitors are looking forward to coming. We have seen people looking to extend their leases and spend the entire summer here. We’re finding that people who weren’t planning vacations until late summer are looking to come sooner. We are starting to see that potential buyers who maybe were not ready to pull the trigger are becoming more serious. We don’t know what is to come in terms of restaurant restrictions and passenger limitations etc, but we do know that people love Nantucket and want to be here. Things are more uncertain than ever now but, Nantucket has weathered many storms and for now is holding strong.
2019 The Year in Review
Another Billion-Dollar Year in Nantucket Real Estate!
It's official... Nantucket is still the place to buy real estate.
Every year Nantucket exhibit's a new real estate trend. Some years buyers want antique homes, some years it's a particular location. 2019's trend was turn-key with a pool. (That doesn't mean that there isn't a buyer for your antique home.)
This was the first year of the short-term rental tax, and we did see a slight effect on the rental market. Most homeowners were wise to not raise rents, as the 11.7% tax was enough of an extra expense for rental clients.
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.