“Two years ago, the Nantucket real estate market was all but at a standstill. One year ago, all cylinders were firing, and the market was positioning for its most remarkable year yet. This year, transaction activity has been suppressed, only by limited inventory, while property values continue to impress. Through March 31, 2022, there were just 85 transactions, but total dollar volume was $267 million. This represented a respective decline of 44 percent and 24 percent from last year’s record first quarter performance. From the five-year average, this represented a transaction decline of 17 percent but an increase of 11 percent on a dollar volume basis and is significantly more in dollar volume than the last pre-pandemic first quarter periods with similar transaction values (2017 & 2019). Given severe inventory constraints against persistently high demand, this trend in reduced transaction volume but solid dollar volume is one that will likely continue throughout the year. ”

Here are Fisher’s March market insights from Jennifer Shalley Allen…