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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: November 16, 2015 by Edward Sanford

With nine months completed Nantucket real estate sales have been steadily below the 2014 pace. Both transactions and dollar volume are off from last year, a consistent trend since March. As of September 30 real estate transactions are off 11% and dollar volume is off 10%.

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Market News

Island Events Calendar

Thanksgiving 2015
Thursday, November 26, 2015

14th Annual Turkey Plunge
November 26, 2015

Nantucket Noel
November 26 - December 31, 2015

Annual Tree Lighting and Caroling
November 27, 2015

Festival of Wreaths at the Nantucket Whaling Museum
November 25 - 29, 2015

Christmas Stroll 2015
December 4th - 6th

Festival of Trees at the Nantucket Whaling Museum
December 4 - 31, 2015

Annual Red Ticket Drawing
December 24, 2015

Nantucket New Year's Celebration
December 26, 2015 - January 2, 2016

Martin Luther King Jr. Weekend
January 15 - January 18, 2016

President's Day Weekend
February 12 - February 15, 2016

Daylight Savings Begins
March 13, 2016

Nantucket Daffodil Weekend 2016
April 29 - May 1, 2016

Mother's Day 2016
May 8, 2016

20th Annual Nantucket Wine Festival
May 19 - 22, 2016

45th Annual Figawi Regatta/Memorial Day Weekend
May 27 - 30th, 2016

Nantucket Spring Restaurant Week
June 6 - 12, 2015

23rd Sam Sylvia Golf Tournament
June 12 - 13, 2016

Father's Day 2016
June 19, 2016

5th Annual Nantucket Book Fesitval
June 17 - 19, 2016

21st Annual Nantucket Film Festival (NFF)
June 22 - 26, 2016

4th of July Weekend 2016
July 1 - 4, 2016