Great Point Properties says Nantucket prices keep rising as inventory hits a multiyear low

Great Point Properties released its 2026 Nantucket Real Estate Mid-Year Report on Sept. 28, showing softer sales volume but stronger prices, scarce inventory and a healthier vacation rental market. The findings suggest Nantucket’s housing market remains supply-starved even as demand and rental revenue stay resilient.

Why it matters: - Nantucket’s market is still being defined by tight supply, which is keeping prices elevated even as fewer homes sell. - The report points to a real-world squeeze for buyers, while landlords and homeowners with desirable properties continue to benefit from strong demand. - Vacation rentals remain an important part of the island economy, with rental revenue and tax collections both trending higher.

What happened: - Great Point Properties released its 2026 Nantucket Real Estate Mid-Year Report on Sept. 28. - The report covers residential sales and vacation rental activity through the first half of 2026. - Through mid-year, Nantucket recorded about $446.9 million in total sales volume across 116 transactions. - That marked year-over-year declines of 11% in dollar volume and 20% in transactions. - The average home sale price rose 14.6% to about $4.28 million. - The median home sale price increased to about $3.32 million from $2.5 million at the same point last year.

The details: - Inventory was a central constraint in the market. - Just 168 properties were for sale at the time of the report. - That was down 31.7% from 246 properties a year earlier. - Great Point Properties said the level was the lowest inventory it has recorded since it began tracking data in the early 2000s, excluding the unusual post-pandemic conditions of 2022 and 2023. - Average days on market for home sales was 136 days, compared with 140 days at the same point last year. - Homes sold for an average of 94.8% of their last asking price. - Homes sold for 153% of assessed value. - Sales between $6 million and $10 million rose 44% year over year, from nine deals to 13. - Sales below $3 million fell nearly 28%, which the report ties largely to limited availability. - Activity in the $3 million to $6 million range was essentially flat. - The $10 million-plus segment slowed modestly. - The report’s market analysis says demand to own on Nantucket remains robust, but many owners are staying put. - Strong equity markets and little urgency among existing homeowners to sell are adding to the inventory shortage.

Between the lines: - The sales mix suggests the island’s market is tilting toward higher-end buyers who can absorb higher prices and tighter supply. - The weaker sub-$3 million segment appears to reflect scarcity, not a sudden collapse in demand. - Higher rental demand and rising operating costs are also making Nantucket vacations more expensive, which could shape future booking patterns. - Broker Ethan Ulmer’s analysis frames the market as one where demand remains healthy, but available housing is the bottleneck.

What’s next: - Great Point Properties said official occupancy tax figures for the June-through-August season will not be available until September. - The firm said early signs point to 2026 becoming a stronger rental year than either of the previous two. - Higher-end rentals, especially newer homes and properties with desirable amenities, are expected to keep outperforming. - More affordable rentals may continue to face tougher booking conditions. - The full report includes neighborhood-level pricing, featured sales and rentals, and more analysis from Ulmer. - More information is available in Great Point Properties' Mid-Year Update.

The bottom line: - Nantucket’s 2026 mid-year market is showing a familiar pattern: fewer sales, higher prices and not enough inventory to loosen the pressure on buyers.