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Where Do We Go From Here?

Total Percentage Increase of RE Sales Volume from 1990 (blue)
compared to S&P 500 Total Percentage Increase from 12.31.90 (red)

Nantucket Real Estate vs. S&P

This is an on going question from Buyers and Sellers. What we have learned over the years is that Nantucket can be impacted by significant economic events. The late 80s banking crisis, the late 90s .com bust, and the 2008-2009 financial meltdown all had negative impacts on our real estate sales. Conversely, a healthy economy, as evidenced by most of the 1990s, saw our sales market grow substantially. In general, over the last 25 years, excepting the well-documented 2004-2005 bubble, real estate sales have tracked S&P 500 returns.


S&P 500 (12.31 close)
Total Return 15 Year Comparisons 1984 to 1999 & 2000 to 2014

Nantucket Real Estate vs. S&P

The latest real estate upswing has largely been driven by the historically low interest rates and not in any response to real economic growth. The chart above shows the startling difference of two fifteen year periods (1985 to 1999 and 2000 to 2014) of the S&P 500 index. Starting in 1985 the S&P 500 grew at a nearly 14% annual compounded rate. From 2000 the return has been significantly lower at 3.23% compounded annually, and all of that growth has occurred since 2013. Based on this historical observation, if the economy, as evidenced by this index, starts to grow at a more normal rate, the S&P 500 index will respond. That might augur well for the Nantucket real estate market based on the historic trends.


Great Point Properties acquired ‘Sconset Real Estate March of 2014, adding a group of talented brokers and agents to its staff while establishing a physical presence in the historic village in Nantucket’s east end.

“We are thrilled to have ‘Sconset Real Estate join Great Point Properties,” said GPP principal Edward Sanford. “They have a great niche in Sconset and really know the market, so we know this will be a good fit for both offices.”

Under Great Point Properties, the ‘Sconset Real Estate office, located in the ‘Sconset Post Office building just off Main Street, will remain open year-round and will retain its current staff and name.

‘Sconset Real Estate has been a part of Coffin ‘Sconset Real Estate for decades under the ownership of Bernie and Carol Coffin. The Coffins will join the Great Point Properties staff, with Bernie remaining in Sconset and Carol transitioning to Great Point Properties’ North Beach Street office.

“We are all very excited about joining a large enthusiastic group of brokers who continue to be innovative and keep up with current technology and marketing skills successfully,” Carol Coffin said.

The Coffins and ‘Sconset Real Estate’s other knowledgeable sales and rental agents, including Paula McAuley, Debbie Willett and Sarah Maneikis, will be key assets on the Great Point Properties team, and were among the primary reasons for pursuing the deal, according to Great Point Properties principal Bill Liddle.

“The staff there is very engrained in Sconset,” Liddle said. “They know Sconset.”

‘Sconset Real Estate is the oldest continuously operated real estate firm in Siasconset. Operated by the Coffin family since the late 1960s, the office merged with Coffin Real Estate in 1979 to become Coffin ‘Sconset Real Estate.

For Great Point Properties, it is not the first time the firm has joined forces with another real estate office to offer its clients more comprehensive service. Back in 2008, Liddle and McKechnie’s Great Point Properties merged with Edward Sanford’s Sanford Real Estate and moved into the North Beach Street office where it remains today.

Great Point Properties, an exclusive affiliate of Christie’s International Real Estate, is a leading Nantucket real estate firm specializing in Nantucket home sales and island vacation rentals.

Market Report

Posted: July 24, 2015 by Conrad Troast

Summer real estate sales on Nantucket have certainly continued on year to date trends thus far in 2015. Since June 1st, the market has still underperformed compared to last year. The sluggish sales volume that characterized Q1 and Q2 has continued into the summer months, leaving transaction volume at just 75% of the near record 2014 numbers. This slow growth for sales has, in turn, caused the average Days on Market (DOM) to rise by 15% over last year’s totals.
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Videos

Swain's Neck Estate Swain's Neck Estate

260 Polpis Road

Medouie Creek Waterfront Medouie Creek Waterfront

16 Medouie Creek Road

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Great Point Properties and Tom Bresette on 228

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Real Estate Update from Great Point Properties

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Great Point Properties' Edward Sanford & Greg McKechnie

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Great Point Properties' Bill Liddle & Greg McKechnie Share New Properties for Sale.

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Nantucket's Real Estate with Great Point Properties.

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An Optimistic Outlook with Edward Sanford.

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Great Point Properties' Bill Liddle & Greg McKechnie share a new house on Grant Avenue.

Market News

Island Events Calendar

Rock Run
August 29th

Labor Day Weekend 2015
September 4 - 7, 2015

Fall Restaurant Week
September 28th - October 4th

Maritime Festival
September 19th

Nantucket Half Marathon
October 11th

Columbus Day Weekend 2015
October 9 - 12, 2015

13th Annual Cranberry Festival
Saturday, October 10, 2015

Christmas Stroll 2015
December 4th - 6th