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August 2023 Nantucket Real Estate Market Insights


Market Insights

Jen Shalley Allen
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“For the first time in 2023, monthly sales and transaction volume not only exceeded levels from one year ago but were markedly higher than August ‘22 figures, a trend we anticipate will continue into September. Despite the boost in monthly volume, year-to-date totals trailed 2022 figures by 30 percent in dollar volume and 33 percent in transaction volume. Similar to July’s activity, nearly 30 percent of August transactions occurred at full or above full asking price, and only one sale took place for less than 90 percent of the original asking price. This illustrates that buyer demand continues to be strong even with current mortgage rates above seven percent. We shall see what the fall market brings!”

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,