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December 2017 Nantucket Real Estate Market Insights

No matter which sales were or weren’t included by various sources, Nantucket real estate enjoyed a banner year. Fisher excluded affordable home sales, foreclosure sales and the $37.5 million Nantucket Storage Center sale, to arrive at the 444 transactions totaling $983.8 million for 2017. This represented a slight transaction decline from 2016 but the fourth best dollar volume performance in Nantucket’s history. Broadly speaking, property values saw a substantial improvement if the 18 percent median home sale rise is any indication of the year-to-year change in value. Speculative home sales also increased from 2016, while vacant land sales declined on account of limited inventory. Affordable home sales enjoyed another year of solid 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.