Temperatures drop, Carolers sing, Strollers stroll and Santa arrives on a Coast Guard cutter – it is what happens on Nantucket in December. In spite of all this holiday activity, even more real estate buyers and sellers were able to find each other last month resulting in the busiest December since 2012 in both dollar volume and number of transactions.
With 15 more transactions than in December 2018, last month’s dollar volume was $14.3M more (15.8%) than last year making it the 2nd best December in terms of dollar volume (2012 is 1st with $128.2M). Average residential prices finished $166.9K higher than last year, due mostly to so many residential properties selling for more than $4 million. The 5 properties selling for more than $4M were 3 more than last years sales with dollar volume $21.43M more.
While 2019 Nantucket real estate sales finished with an amazing $1,010,568,576 in total dollar volume, we were still 14.5% (-$171.3M) behind last year’s dollar volume with 36 fewer transactions (-7.5%). 2019 now ranks 5th in terms of total dollar volume (behind 2004, 2005, 2017 and 2018) even with the fewest number of transactions since 2011.
December 2019 may have been one of the best Decembers on record and 2019 dollar volume the 5th best in Nantucket history, but the actual number of transactions declined for the second year in a row in spite of having more properties on-market.
Finishing 36 transactions and $171M below last year, we ended 2019 with 5 more sales and $180M more in dollar volume than the last 10 year average…it was another banner year.