May was another busy month for real estate on Nantucket, with 64 new listings hitting the market—a 52% increase from May of last year.
This surge is typical for spring when new listings generally outpace houses going under contract. However, the gains in inventory this year have been more significant than in recent years. Inventory rose 18% year-to-date last year, but this year, there has been a 71% increase since the beginning of the year. Despite a 20% decrease in transactions, the main cause is more homes coming on the market. It remains a great time to sell your home on Nantucket, as demand remains high. What has changed is that buyers now benefit from a greater selection of properties.
Maury People Sotheby's International Realty added 14 new listings in May, with more expected as we prepare for the busy summer season. Whether you are looking to buy or sell a home on Nantucket, our professional agents can help you navigate the increasingly complex market and achieve your real estate goals. Connect with us today.
