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The
Nantucket Real Estate Report
Signicant increase in closings and
accepted offers over last March.
March 2014
It was all lion all the way and the lamb simply didnt show
itself this past March on Nantucket. While our weather was lled with
snow, rain and wind, island real estate activity roared onit was a
beastly month indeed.
With 33 closings, 18 accepted offers and 11 price adjustments, more
than $50M in real estate changed hands, another $20M went under
agreement and $19M in properties had accepted offers in March. This
was particularly good news since March has averaged 28 transactions
and $32.5M in volume these past 6 years.
A 36% increase in transactions and 203% increase in dollar volume
over March 2013s sales, made last month the third month in a row
real estate activity on Nantucket surpassed that experienced in 2013
and making it the busiest March since 2007 when 37 sales resulted in
over $72M in volume.
Marchs impressive results pushed sales transactions 74.6% higher
and dollar volume 142% higher than was experienced during the same
90 day period last year. Last months solid performance continued to
be a welcome relief in what is traditionally viewed as a slow time in
island real estate.
Three months of solid sales now puts 2014
74.6% ahead of 2013 in sales and 142%
ahead in dollar volume for this time period.
44% of transactions were under $1M.
At A Glance...
Data source: LINK Nantucket, Nantucket Listing Service
Properties
Sold $ Volume Sold
Properties
Sold $ Volume Sold
# Properties
Sold $ Volume Sold
Land 4 $5,280,000 9 $4,724,600 -55.56% 11.76%
Commercial 3 $5,544,999 0 $0 0.00% 0.00%
Multi-Family 1 $500,000 0 $0 0.00% 0.00%
Condos & Co-op 3 $1,472,499 4 $1,351,000 -25.00% 8.99%
Single-Family 23 $37,745,065 12 $10,611,000 91.67% 255.72%
34 $50,542,563 25 $16,686,600 36.00% 202.89%
2013 2014 % Of Change From Last Year
March 2014 Activity Compared to March 2013 Activity
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Dollar Volume and Number of Properties Sold By Month
(compared to previous year)
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The
Nantucket Real Estate Report

www.leerealestate.com
!"##"$%&'()*
Baseu on Q1 2u14 activity, the piospects
foi a bannei ieal estate yeai on
Nantucket have just been kickeu up a
notch.
With 28u piopeities cuiiently foi sale,
compaieu to SS2 listeu foi sale a yeai
ago, inventoiy is uefinitely uown. In the
last 6 months 2S8 piopeities weie solu
on-islanu - 16S of these weie single-
family piopeities selling foi:
- 86.6% of theii oiiginal asking piice (foi
146 solu thiough a ieal estate fiim)
- 9u.6% of theii most iecent asking piice
(foi 146 solu thiough a ieal estate
fiim)
- 121% of theii Assesseu valuation (foi
1S4 with Assesseu valuations)
- Aveiageu 192 uays on-maiket (17u
uays if the 2 piopeities on-maiket foi
moie than S yeais aie excluueu)
Not since 2uu6 have we hau moie
piopeities sell oi moie uollais change
hanus in the 1st Quaitei, than what we've
seen this yeai. No wonuei inventoiy is
uown.buyeis aie buying anu owneis aie
selling. If you've been thinking of selling,
now woulu be a goou time to make a
move.
!"# !%#&"'
Residential Sales:
Naich's 27 iesiuential sales weie highei than the 2S solu in
Febiuaiy but totaleu $1u.6N (21.2%) less in total uollai volume.
The biggest uiffeience, 1 iesiuential piopeity solu foi $4.7N in
Naich compaieu to S piopeities, totaling almost $19N, selling
in Febiuaiy. As seen befoie, the most active segment was foi
piopeities selling foi less than $1N with 44% of the activity.
Conuo anu Nulti-family sales maue up 14.8% of iesiuential
closings yet less than S% of the uollai volume.
Land Sales:
Lanu sales iemaineu faiily stiong totaling ovei $S.2N in volume
in S tiansactions (making up 11.6% of total tiansactions anu
1u.4% of total sales volume) but was 1 tiansaction less than
Febiuaiy sales anu almost S4% lowei in uollai volume. With 49
piopeities cuiiently on-maiket, inventoiy has uefinitely
uioppeu with 8 piopeities pulleu off-maiket in the last 9u uays.
Theie is cuiiently about a 4
1
2 month supply of lanu available
(baseu on activity seen in the last 9u uays).
Commeicial Sales:
S commeicial piopeity sales totaling ovei $S.SN closeu in
Naich. With 24 commeicial piopeities selling in the last 12
months (1u in the last 6 months) anu 2 cuiiently unuei
agieement, only 4 commeicial piopeities iemain on-maiket -
none of which aie in the coie commeicial uistiict.
Availability:
0n Naich S1
st
, theie weie 28S listings on-maiket, 229 of which
weie iesiuential; compaieu to 29S listings at the enu of
Febiuaiy (226 iesiuential). 0f the S4 piopeities biought to
maiket in Naich S2.S% (11 listings) weie pieviously listeu anu
aveiageu 414 uays on-maiket befoie being taken off-maiket.


Land Parcels Selling Price
% of Final
Asking
Price**
% of
Original
Price**
Lot size
(sq. ft.)
Price per
sq. ft.
Days On
Market
1 Sun Island Road $280,000 93.65% 93.65% 4,792 $58.44 123
2 Brooks Farm Road $1,300,000 96.30% 96.30% 10,890 $119.38 119
14 Bishops Rise $1,400,000 82.60% 77.78% 82,764 $16.92 190
94 Tom Nevers Road $2,300,000 *N/A *N/A 149,411 $15.39 *N/A
Total Land Sales $5,280,000
Average: $1,320,000 90.85% 89.24% 61,964 $52.53 144
Median Of All Land Sales: $1,350,000 93.65% 93.65% 46,827 $37.68 123
Commercial Properties Selling Price
% of Final
Asking
Price**
% of
Original
Price**
Price
per sq. ft
(space)
Space
(sq. ft.)
Days On
Market
86 1/2 Somerset Road $395,000 101.28% 101.28% $263.33 1,500 14
58 Main Street # D $1,350,000 *N/A *N/A $1,739.69 776 *N/A
2 South Beach Street $3,800,000 *N/A *N/A $637.80 5,958 *N/A
Total Commercial Sales $5,545,000
Average: $1,848,333 101.28% 101.28% 880 2,745 14
Residential Properties Selling Price
% 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
8B Boynton Lane # 2 $300,000 N/A* N/A* $235.48 Condo N/A* 1,274 2 2.5
42 Nobadeer Farm Rd # C $449,000 100.00% 100.00% $320.71 Condo 263 1,400 2 2.5
1 Evergreen Way $452,670 N/A* N/A* $808.34 80,150 N/A* 560 2 1
14 Woodland Drive $475,001 100.00% 87.16% $621.73 20,038 129 764 2 1
3 Hooper Farm Road $500,000 N/A* N/A* $217.01 4,792 N/A* 2,304 5 4
4 Cartwright Place $549,000 95.48% 92.27% $421.01 10,019 202 1,304 3 2
3 Appleton Road $630,000 97.07% 97.07% $489.13 10,019 27 1,288 3 2
42 Skyline Drive (portion of) $635,000 101.60% 101.60% Unknown 82,328 75 Unknown 3 2
8 Prospect Street $710,000 89.31% 83.53% $910.26 6,970 329 780 1 1
1 Mamack Lane $723,500 96.60% 96.60% $384.43 Condo 114 1,882 2 2
68 Washington Avenue $769,000 100.00% 85.92% $625.20 20,038 115 1,230 3 3
5 Todd Circle $950,000 95.48% 82.61% $359.03 21,780 200 2,646 5 4
48 Hummock Pond Road $1,075,000 91.49% 91.49% $832.04 20,038 244 1,292 3 2
8 Howard Court $1,100,000 92.05% 78.85% $1,023.26 2,831 156 1,075 2 2
24 Union Street $1,125,001 102.74% 91.84% $554.73 2,614 133 2,028 3 3
50 Wauwinet Road $1,200,000 80.00% 69.57% $500.00 130,680 225 2,400 3 2.5
16 Lyons Lane $1,365,000 91.30% 91.30% $525.61 39,204 111 2,597 3 3
21 New Street $1,625,000 90.28% 90.28% $936.60 8,276 791 1,735 4 2.5
24 West Sankaty Lot 1 & 2 $1,625,000 75.76% 75.76% $934.45 11,413 0 1,739 4 2
4 Swain Street $1,720,000 91.73% 88.89% $841.90 9,148 270 2,043 4 3
36 Union Street $1,920,500 96.27% 96.27% $871.77 4,356 37 2,203 5 3.5
97 Hummock Pond Road $2,150,000 93.68% 67.19% $373.85 32,234 1233 5,751 6 5.5
20 Gingy Lane $2,640,000 88.44% 88.44% $586.67 16,117 150 4,500 5 5.5
53 Center Street $2,800,000 94.92% 94.92% $743.10 6,098 4 3,768 5 3.5
5 Folger Lane $3,578,893 N/A* N/A* $721.84 6,098 N/A* 4,958 6 5.5
25 Hinckley Lane $3,950,000 96.46% 89.87% $1,426.51 31,363 285 2,769 4 3.5
66 Cliff Road $4,700,000 N/A* N/A* $940.00 8,712 N/A* 5,000 6 6.5
Total Residential Sales $39,717,565
Average: $1,471,021 93.67% 88.25% $661.72 24,388 232 2,280 4 3
Median Of All Residential Sales: $1,100,000 95.20% 90.08% $623.47 10,716 153 1,955 3 2.5
N/A* - Not Sold Through A Real Estate Firm ** Excludes Properties Not Sold Through A Real Estate Firm
Properties Sold In March 2014
(excluding foreclosures)