Compare Listings

August 2022 Nantucket Real Estate Market Insights

Stories

Market Insights

Jen Shalley Allen
unnamed image

“For the second time this year, monthly dollar and transaction volume significantly trailed prior year figures and year-to-date average monthly volume figures. Limited inventory certainly continued to play a role in reduced volume but rising interest rates and a volatile stock market likely put additional pressure on transaction activity. August 2022 sales included 18 transactions totaling $55.5 million, a steep decline of 55 percent and 61 percent respectively from one year ago and well off of the $100M+ monthly volume previously posted in 2022. These sales brought year-to-date figures through August 31, 2022, to 252 transactions totaling $867 million. While this is well below the $1.18 billion tallied through this time last year, it’s handsomely above pre-2020 figures for the same period. The question is whether this reduced transaction volume is the beginning of a new trend as we approach the fourth quarter, typically among the strongest quarters of the year.”

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

Written By

Jen Shalley Allen

Jen has worked on an impressive array of real estate transactions including two of the island’s largest and most complex vacant land transfers, commercial transactions, and single-family home sales,