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December 2016 Nantucket Real Estate Market Insights

While the full-year tally left the 2016 Nantucket real estate market shy of the $1 billion mark, it was a banner year by all other metrics. Excluding foreclosures and covenant sales, December’s figures included 42 transactions totaling $69 million. This brought fiscal year totals to 472 property transactions comprising $949 million in sales. This represented a slight transaction decline from 2015 but the fourth best dollar volume performance in Nantucket’s history. Broadly speaking, property values saw a modest increase with a three percent rise in the median sale value over 2015, while several resales (see above) highlighted more significant valuation increases for turnkey homes. Speculative home sales jumped, particularly at the higher end of the market, while land sales declined on account of limited inventory. Affordable home sales also enjoyed tremendous comparative success, though this data is excluded from the full-year figures included herein. Here are Fisher’s December 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.