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August 2022 Nantucket Real Estate Market Insights


Market Insights

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“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…