I never thought I'd see the day when the median home price on Nantucket dipped below $1 million.
Long after the real estate market began to tank in 2006, prices on the seemingly gold-plated resort island, a favorite of the corporate elite, just kept going up.
No more. The median price fell to $925,000 at the end of June, down from $1.1 million in June, 2011, reports The Warren Group, publisher of Banker & Tradesman.
And in a sign of the times, two foreclosures were also listed for June, including a duplex at 8 Anna Drive that had last fetched nearly $1 million in 2006.
No anomaly, the rich are apparently taking a bath on real estate across the country now.
Homes worth $1 million and up have fallen by more than 20 percent so far this year, RealtyTrac recently reported.
Thanks to gcbma for spotting that one.
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