“After historically low activity in March, the Nantucket real estate market rebounded in April to close 19 transactions totaling $50M. This is notably higher than the nine transactions that measured $38M in March but well below the five-year average of 34 transactions totaling $122M. April transactions brought year-to-date figures to 61 property sales amounting to $245M, a 0 percent change in the number of units sold during this time in 2023, but an increase of 13 percent in total dollar volume. New contract volume also showed a significant improvement during April with 23 new purchase contracts. Interestingly, price changes also doubled, suggesting current pricing isn’t aligning with buyers. On the inventory front, there were 180 properties publicly listed by the end of April, an increase of 55 percent from this time one year ago and perhaps why we are seeing an increase in price adjustments.”

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