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August 2018 Nantucket Real Estate Market Insights

For the first time this year, cumulative Nantucket real estate transaction volume dipped below 2017 levels. August property sales included 23 transactions totaling $46.6 million, a respective 32 percent and 52 percent decline from August 2017. Year-to-date sales through August 31, 2018 included 252 transactions totaling $566.1 million— a 2 percent year-over-year decline in transactions but a 1 percent increase in dollar volume. This marks the third consecutive month where transaction activity was more than 20 percent lower than the same period one year ago.

While summer sales activity may have been sluggish, summer contract activity was anything but. New contract activity in August surged ahead of previous months and points to a robust fall transaction schedule. Here are Fisher’s August Market Insights…

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Jennifer Shalley Allen

Jen first stepped foot on the shores of Nantucket while working a summer job at the White Elephant while studying at the University of Virginia. It wasn’t until 2008, after having spent six years in the financial sector at Citigroup and then Wachovia, that she was drawn back to the island more permanently. Since that time, Jen has worked on an impressive array of real estate transactions exceeding $240 million. This includes, among others, two of the island’s largest and most complex vacant land transfers, several commercial transactions, and many single-family home sales, from high-end residential estates to lender-owned asset dispositions. Capitalizing on her extensive background in finance and market knowledge, Jen is well known for her unparalleled “Nantucket Real Estate Report,” an in-depth monthly market commentary and analysis that has been quoted by CNBC and The Boston Globe.

When not showing properties or researching the Nantucket real estate market, Jen can be found volunteering with Swim Across America Nantucket, a local fundraising event for cancer treatment and patient care at Nantucket Cottage Hospital or sitting on committees for other Nantucket nonprofits. She loves traveling, spending time outdoors with husband Mike and lab Sammy, and is an avid runner, cyclist and triathlete.