|We hesitate to blow your mind on the last day of 2019, but this is the kind of data nearly everyone needs to see. Here are a few of the most eyebrow-raising facts and the sources of that data that we have uncovered in our work. |
32,000 cars. There are 28,000 vehicles on Nantucket year-round (many of them garaged during the off-season). The number grows to 32,000 at the height of August. (Nantucket Data Platform) So if you think that people who bring cars here in the summer are causing the island’s traffic problems, you’re right. But only 12.5% right. How much traffic is made up of year-rounders and businesses versus visitors? We’re working on uncovering that number.1,500 short-term rentals. 1,500 homes on Nantucket are registered with the Commonwealth of Massachusetts as short-term rentals. That’s a greater percentage of homes than anywhere else in MA: 9.3% of the inventory of the entire Commonwealth. (Commonwealth of MA) And since this is the first year property owners are required to register to pay sales tax to the state, the real number is likely higher. From $953,000 to $1,310,000. The ten-year selling price change for a three-bedroom home on Nantucket. That’s a ten-year increase of $357,000 (Zillow). This is great news for people who already have equity in a Nantucket property, but for those who wish to buy into the market, the opportunities seem to be moving further and further out of reach. $5 to $24 Billion. The total assessed value of all real estate on Nantucket has increased over the past 20 years (2000-2019) from $5 billion to $24 billion. Or a little less than one billion dollars worth of growth in assessed value per year. (Town of Nantucket) This is due to three market forces. New construction, “improvements” made to existing real estate, as well as the overall growth in the value of the real estate market here. 50+ boards, committees, councils, and workgroups. Nantucket town government currently has over 50 boards, committees, councils, and workgroups, most of which are staffed by elected or appointed officials, town employees and volunteers. (Town of Nantucket) This fact alone makes it difficult for the average citizen to keep track and play an active role. 7% Participation. Only 7% of registered voters attended ATM in 2018. (Town of Nantucket) At the ballot box, 25% participated, which is over three times better, but still unacceptably low. In contrast, 61.7% of all registered voters cast a vote in the last presidential election, nationwide. What does this all mean? Basically, it means we have our work cut out for us in 2020. In the coming weeks, we will be developing programs designed to move the community’s vision forward. It also means your support and energies have never been more important. Thank you for being a part of this effort.
Have a great New Year.