“The sales market — this is probably the strongest season we’ve had in probably five years,” said Jennifer Shalley, research director at Windwalker Real Estate based out of Nantucket, Mass. “It’s a really, really healthy market. A lot of buyers have been waiting.”
Not many locations can claim to have the kind of brisk sales that Nantucket does. Part of it is cache, of course. The island off the northeastern coast is very popular with the well-to-do, and the prices reflect that.
“We’re definitely seeing more activity in the higher end,” Shalley said. “The $4 to $5 million range is seeing the most activity.”
Shalley took a few moments with Second Shelters to tell us why Nantucket is so popular for second home buyers:
Second Shelters: In top-tier properties, what are some typical amenities second home buyers should look for? What are some popular upgrades?
Shalley: Given that Nantucket is a unique island destination, “turn-key” vacation homes are highly sought after so that vacation home buyers may move right in and enjoy immediate use of their summer home. Those properties that have been recently constructed or renovated, and are offered completely furnished, are in very high demand. Properties with pools are also highly sought after, especially if they are located near the town of Nantucket. If the property does not have a pool, many buyers will look at the feasibility of adding one, and then upgrade at a later date, both for their own enjoyment and for the potential to boost rental income.
SS: As far as on/off seasons go, when is the island the busiest? What time of year do sales peak?
Shalley: Nantucket’s high-season is typically during the months of July and August when New England’s weather is the warmest. The island offers a wonderful respite from the summer heat and it tends to lure the most number of visitors during this time. However, if you ask someone who knows Nantucket well, I imagine one might say that the most beloved months are September and October. The weather is still beautiful and the water’s warm — the island has a less subtle, but still spectacular buzz about it. As property sales go, the summer and fall months typically are when home sales peak — it’s hard not to fall in love with the island when you are here!
SS: What’s the inside track on some of the homes for sale? Anything eyebrow raising? Any home(s) that pique your interest in particular?
Shalley: The best thing about the current Nantucket real estate market is that there remain compelling values for buyers seeking opportunity in a recovering real estate market. From beach home to renovation project, to quaint properties nestled in town there are so many choices.
Find out more about some of the gorgeous Nantucket homes for sale on Windwalker Real Estate’s home page.