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Nantucket Real Estate Market Update - September 2014

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With 360 transactions completed year-to-date totaling over $670M, there is a lot to be happy about if you have been involved in Nantucket real estate this year…either as a buyer, seller or broker. Based on this year’s activity, there is a 12-month supply of inventory currently available for sale (9-month supply of residential properties) compared to 13.5 month supply a year ago (12-month supply of residential properties). Nantucket properties are continuing to attract attention, as evidenced by the 6 accepted offers and 24 sales occurring during the first 13 days of October. If you are thinking of selling, you have good reason to be optimistic - as long as it is priced properly.
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    .   The   Nantucket Real Estate Report Number of residential properties sold and number of accepted offers were higher this September than last September  September 2014   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K==:PHL (&.& D.&2!+6 0* 0! $&, (!$% )/ )2&.)J& $!4& +/34).8&$ +1 BOO ,)* :   The   Nantucket Real Estate Report   YTD Dollar Volume & Number Of Properties Sold       2   0   1   0   2   0   1   1   2   0   1   2   2   0   1   3   2   0   1  4 Number of Sales$ Volume LandCommercialMulti-FamilyCondos & Co-opSingle-Family Number & Volume Of Properties Sold Last Month By Type  Land ParcelsSelling Price% of Final Asking Price**% of Original Price**Lot size (sq. ft.)Price per sq. ft.Days On Market 4 Flint Road$215,000N/A*N/A*5,227$41.13N/A*9 Spearhead Road$225,000N/A*N/A*5,227$43.04N/A*11 Spearhead Road$225,000N/A*N/A*5,227$43.04N/A*12 Tomahawk Road$260,000N/A*N/A*5,227$49.74N/A*10 Alexandia Drive$287,50096.15%90.13%11,761$24.445253 Friendship Lane$390,00097.74%97.74%20,038$19.46659 Cachalot Lane$425,00089.47%89.47%24,829$17.12151 Long Pond Drive$550,00092.44%92.44%20,038$27.45621 Pilgrim Road$832,00092.96%92.96%6,098$136.433294 Capaum Road$4,125,00098.21%100.73%11,326$364.22206 Total Land Sales$7,534,500 Average:$753,45094.50%93.91%11,500$76.61191 Median Of All Land Sales: $338,75094.56%92.70%8,712$42.09136 Residential PropertiesSelling Price% of Final Asking Price**% of Original Price**Price per sq. ft (living area)Lot size (sq. ft.)Days On MarketLiving Area Sq. Ft.BedsBaths 16B Boynton Lane$352,00088.22%88.22%$368.59Condo1179552131 South Cambridge Street$415,000N/A*N/A*$303.368,712N/A*1,36832.558 Arkansas Avenue$420,00098.82%98.82%$291.676,098571,44042.526 Arkansas Avenue$475,000100.00%100.00%$371.093,485311,280321 Joy Street$725,00091.89%91.89%$794.963,0491809123126B Bluebird Lane # 2$750,00094.34%94.34%$403.23Condo1501,86032.52 King Street$800,00091.43%82.90%$927.002,6144018634221 Meadow View Drive$865,000N/A*N/A*$462.0720,038N/A*1,87232.528 Shell Street$867,77272.62%72.62%$583.975,663691,48631.580 Goldfinch Drive$925,000N/A*N/A*$348.535,227N/A*2,65444.54 Kelley Road$950,000N/A*N/A*$761.2227,007N/A*1,24822103C Orange Street$1,051,50096.03%96.03%$1,336.09Condo778721.56 Fayette Street$1,080,00090.83%90.83%$547.676,970561,9723339 Washaman Avenue$1,170,00097.54%97.54%$549.815,663282,1283337 Long Pond Drive$1,207,50093.24%89.51%$372.0043,9965203,24642.52 North Beach Street$1,217,50097.79%85.44%$908.586,09811051,340323 Gladlands Avenue$1,300,00096.30%96.30%$564.2480,150272,3043327 Liberty Street$1,400,00093.65%87.50%$769.232,1783921,8203323 Pond View Drive$1,497,50093.89%93.89%$673.3491,4761722,2243342 Baxter Road$1,550,000N/A*N/A*$682.8211,326N/A*2,2704333B Washington Street$1,633,12590.98%90.98%$963.507,841791,69532153 Polpis Road$1,650,00091.92%82.71%$640.5376,2304442,576438 R Back Street$1,650,00097.35%97.35%$593.3110,019752,781323 New Street$1,650,000N/A*N/A*$697.085,227N/A*2,36742.59 Union Street$1,700,00097.14%89.71%$674.873,4852502,519543 Chatham Road$1,720,00095.82%95.82%$542.249,148543,17244.564 West Chester Street$1,740,000N/A*N/A*$827.0023,958N/A*2,1043216 East Lincoln Avenue$1,850,00092.73%92.73%$1,170.895,2272761,58032.562 West Chester Street$1,850,00094.87%94.87%$892.4323,9583562,07342.536 Burnell Street$1,875,00093.80%110.62%$972.5129,185381,92832.5129 Wauwinet Road$1,950,000N/A*N/A*$1,779.2027,007N/A*1,0962150 West Chester Street$1,989,00094.71%94.71%$671.057,841232,96443.516 North Beach Street$2,112,50092.05%78.24%$1,037.579,14818272,03644.57 Alliance Lane$2,150,000100.00%100.00%$680.16121,968693,16132.522 New Lane$2,200,00097.78%97.78%$718.025,2271863,06444.514 Darling Street$2,200,00091.86%91.86%$1,257.142,3524051,75033.528 Pine Street$2,305,00098.09%98.09%$730.126,042863,15744.53 Sunset Ridge Lane$2,440,00093.85%93.85%$703.177,40553,47043.53 North Gully Road$2,450,00089.09%89.09%$1,633.335,227121,50022.521 Madaket Road$2,750,00098.39%84.62%$1,072.1216,1172092,56543.512 Black Fish Lane$2,875,00095.99%95.99%$1,039.4120,03852,76644.515 North Pasture Lane$3,075,00090.57%90.57%$971.87122,4041923,164459 Pilgrim Court$3,150,00087.62%87.62%$769.238,2331024,09555.535 North Beach Street$3,325,00097.94%89.99%$869.5117,4243763,82453.5323 Polpis Road$3,800,00095.12%86.46%$439.31128,5023848,65055.594 Cliff Road$3,890,00086.54%86.54%$682.4630,492715,70055.512 Brant Point Road$3,900,00092.97%86.76%$1,218.7527,44310443,20064.55 Folger Lane$4,000,000N/A*N/A*$806.786,098N/A*4,95865.573A Squam Road # 1$4,300,00086.87%78.18%$1,981.5704802,1704224 Walsh Street$4,450,00095.19%95.19%$1,917.284,356202,32155.59 Head of the Plains$7,525,00096.78%96.78%$1,008.71112,82017,46067.513 Washing Pond Road$10,000,000N/A*N/A*$1,673.6484,506N/A*5,97558.5250 Polpis Road$12,000,00087.27%81.36%$1,402.20435,6007818,55866.533 Squam Road$20,900,00091.07%91.07%$2,874.43174,240707,271710.5 Total Residential Sales$146,073,397 Average:$2,705,06393.43%91.26%$887.6137,3432552,80944 Median Of All Residential Sales: $1,795,00093.87%91.46%$765.229,1481102,28743N/A* - Not Sold Through A Real Estate Firm** Excludes Properties Not Sold Through A Real Estate Firm Properties Sold In September 2014 (excluding foreclosures)  ! #$  %&'$( *+,!-. /01!23 !4567. 8 69#: $7' 8&67'  ! # $%&%'(&))) $#&#*+&))) ! 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