With space and fresh air always occupying everyone’s heads, it’s no surprise that popular summer vacation spots are filling up at an all-time high. In Massachusetts, this summer is set to be a “record” summer for Cape Cod. Summer rentals are already almost fully booked. With international travel always difficult, many turn a little closer to home and focus on bringing the whole family.
With vacation priorities now focused on ease of movement, remoteness and plenty of space, many people even decide to invest in their first summer home. I spoke with local real estate experts, Jen Allen, Senior Broker, and Erin Wilson, Sales and Leasing Agent, both from Fisher Real Estate on Nantucket. They shared their ideas on the second home market and buying advice for Nantucket.
Where is Nantucket?
Located off the southern coast of Massachusetts, Nantucket is a historic whaling and harbor island. However, it has since morphed into a luxurious summer getaway over the past 100 years. Being an island, it is typically secluded and more exclusive than nearby Cape Cod.
Nantucket neighborhoods explained
Nantucket may only have one zip code, but each neighborhood has its own unique personality. Thus, the Fisher team is focused on identifying the needs and wants of their clients to match them not only with a property that meets their goals, but also a neighborhood that they would like. “Recommending a part of the island really depends on the customers, their goals and their preferences. For example, if a customer wants to maximize their rental income, buying in the city makes a lot of sense as you get more rentals during shoulder season (period outside of our peak months of July and August). It’s also a great place for those who want to enjoy Nantucket’s amazing restaurants and have easy access to everything. Said Erin Wilson, Fisher sales and rental agent.
Applying for a second home on Nantucket
Like many rural and vacation destinations across the country, Nantucket has seen an incredible increase in demand from second home buyers and seasonal renters looking for a property in Nantucket. According to Jen Allen, Senior Broker, Fisher Real Estate, “Sales activity increased by 50% in 2020 compared to the previous year and for this period of 2021 it is already double what we have seen l ‘last year. Vacation rentals have been harder to find due to homeowners using their homes more and renting less, and rental demand appears to be much higher than ever. For a complete analysis of the current market on Nantucket, refer to the Fisher Real Estate Market report for Nantucket.
Whether you want to relax at the beach, enjoy the downtown shopping and dining, or just enjoy your own private space at home, there is a neighborhood for you. Erin Wilson shared her favorite neighborhoods: “For those who really want to kick back when they arrive on the island, Cisco and Madaket are two great laid back beaches. I would recommend Brant Point for young families. It is a very family neighborhood close to the beach and the city. And for retired couples who are really looking to get away from it all, there are so many wonderful neighborhoods in Nantucket, but I think there is something special and very quaint about Wauwinet. You really feel far away from it all, but you have a little gem in the neighborhood …The Wauwinet. “
Best time of year to buy homes in Nantucket
According to Jen Allen, Senior Broker, “We traditionally see the peak of inventory for sale in July, so the timing often gives the buyer the most choices.” This is fortuitous for buyers as they can view properties in high season on Nantucket, so even the experience of viewing properties can help you determine where you would like to be. “There are also advantages to buying a home during the fall season, as there can be less competition from other buyers and it is a fantastic time to visit the island. It is usually easier to book accommodation and make restaurant reservations. ”
What to do on Nantucket
However, no matter when you visit Nantucket, for shopping or just sightseeing, there is plenty to keep you occupied. From world-class downtown restaurants to the pretty boutiques dotted around the island, to famous beaches, there is never a dull moment. However, some local hot spots to add to your list include: Bartlett’s Farm, 167 Seafood, Cisco Brewers, and the Miacomet Golf Course Clubhouse, which is open to the public. Children’s Beach on Brant Point also has a playground and Jetties Beach which has a snack bar, restaurant and restrooms.