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s we enter 2025, the Nantucket real estate market is looking back on a resilient and adaptable 2024. Great Point Properties' annual report provides valuable insights into this highly competitive market, highlighting strategic opportunities for the year ahead.

    In 2024, Nantucket's luxury homes continued to attract high-net-worth buyers seeking second homes, investment properties, or vacation escapes. Despite economic headwinds nationally, the island maintained a robust sales volume, with limited inventory driving elevated home values and a competitive environment for buyers.

    Key takeaways from 2024 include:

    * Strong sales volume, particularly in luxury homes

    * Limited inventory, sustaining high home values and competition among buyers

    * Consistent demand for Nantucket vacation rentals and luxury properties

    With inventory remaining tight and demand holding firm into 2025, the lessons from 2024 are crucial for buyers looking to get ahead this year. Here's what they should consider:

    1. Move quickly but strategically: Homes that are well-priced and located are moving fast, so buyers should be prepared to act quickly.

    2. Don't wait for prices to drop: Prices have plateaued at a high level, and with strong rental returns, many owners are holding rather than selling.

    3. Consider the rental potential: Nantucket remains a vacation magnet, and buyers who use properties as rentals can offset ownership costs.

    For sellers, 2024's market performance suggests it's still a great time to sell:

    * Off-market deals are on the rise

    * Sellers have an upper hand with limited inventory and consistent demand

    * Preparation is key, including staging and pricing homes appropriately

    Great Point Properties' expertise in the Nantucket real estate market offers buyers, sellers, and investors valuable insights and personalized service. Their deep knowledge of the community and access to exclusive listings make them a trusted partner for navigating the island's unique market.

    Investors should consider the following trends based on 2024 data:

    * Rental income potential remains high due to high occupancy rates during the summer season

    * Limited land equals sustained value, maintaining Nantucket's charm and limiting overdevelopment

    * Luxury properties offer stability, driven by wealthy buyers and international interest

    Whether seeking a summer getaway, full-time residence, or income-generating asset, Nantucket offers unique appeal. With Great Point Properties' guidance, you can navigate the market with confidence and make informed decisions about your real estate investments.