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April 2023 Nantucket Real Estate Market Insights


Market Insights

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“Four months into the year, the Nantucket real estate market appears to be returning to ‘normalcy’ after the peak period of 2020-2022. April transactions continued at a modest trajectory compared to the previous two years and were more comparable to the pre-pandemic era, though with a distinct difference in the average sale price. Monthly April transactions tallied 16 sales totaling $50 million, bringing year-to-date figures to 61 property transfers totaling $215 million. On a cumulative basis, this reflects a respective decline of 53 percent and 54 percent from the same period in 2022. Sales volume continued to be restrained by low inventory and though inventory figures are rising, much of the inventory is less turnkey for the many buyers who want immediate use of an updated property. For the turnkey properties that do hit the market, transactions continue to happen at a rapid pace.”

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