Nantucket, MA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Nantucket, MA Real Estate Data


Nantucket Housing Market Information

With 10,925 people, 3,923 houses or apartments, and a median cost of homes of $1,122,125, Nantucket house prices are not only among the most expensive in Massachusetts, Nantucket real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Nantucket, accounting for 85.36% of the town's housing units. Other types of housing that are prevalent in Nantucket include duplexes, homes converted to apartments or other small apartment buildings ( 8.67%), row houses and other attached homes ( 3.72%), and a few mobile homes or trailers ( 1.67%).

The most prevalent building size and type in Nantucket are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 63.68% owning and 36.32% renting.

There is a lot of housing in Nantucket built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Nantucket built between 2000 and later ( 17.63%). A lesser amount of the housing stock also hails from before 1939 ( 17.39%). There's also some housing in Nantucket built between 1940-1969 ( 12.56%).

A decent proportion of the Nantucket housing stock is seasonally occupied. That is, homes and condos in Nantucket are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Nantucket housing market speaks to its popularity as a vacation location of choice.

Nantucket Home Appreciation Rates

Appreciation rates for homes in Nantucket have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 11.31%, which ranks in the top 30% nationwide. This equates to an annual average Nantucket house appreciation rate of 1.08%.

Appreciation rates are so strong in Nantucket that despite a nationwide downturn in the housing market, Nantucket real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Nantucket appreciation rates continue to be some of the highest in America, at 8.99%, which is higher than appreciation rates in 89.99% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Nantucket. Nantucket appreciation rates in the latest quarter were at 2.38%, which equates to an annual appreciation rate of 9.87%.

Importantly, this makes Nantucket one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

Relative to Massachusetts, our data show that Nantucket's latest annual appreciation rate is higher than 90% of the other cities and towns in Massachusetts.

One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Nantucket differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Nantucket - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Nantucket real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$1,122,125

Nantucket, MA HOME PRICES

Value Range
> $1,331,000 20.0
$999,001 - $1,331,000 27.2
$665,001 - $999,000 19.6
$533,001 - $665,000 5.0
$399,001 - $533,000 5.4
$266,001 - $399,000 2.9
$133,001 - $266,000 1.6
$67,001 - $133,000 0.0
$0 - $67,000 1.2

Very High for MA
Very High for Nation

Value Relative to Nation Value Relative to State
0.802765733036447 0.961538461538462

Number Of Homes And Apartments:
3,923

Rent & Ownership

 

Average Market Rent:
$1,899 / per month

Homeownership Rate

Homeownership
Owners 63.68
Renters 36.32
Vacant 66.65

Housing Market Details

 

Age of Homes

AGE OF Nantucket HOMES
2000 or Newer 17.6
1970 - 1999 52.4
1940 - 1969 12.6
1939 or Older 17.4

Types of Homes

TYPE OF Nantucket HOMES
Single-Family 85.4
Townhomes 3.7
Small Apt. Buildings 8.7
Apt. Complexes 0.6
Mobile Homes 1.7
Other 0.0

Home Size

SIZE OF Nantucket HOMES
No Bedroom 3.93
1 Bedroom 11.32
2 Bedrooms 23.40
3 Bedrooms 26.91
4 Bedrooms 24.62
5 or more bedrooms 9.83

Nantucket Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MA*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
91.39% 3.83% 10 10
* 10 is highest

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Zip Codes in Nantucket, MA