Real Estate Gone Wild
Explaining the luxury real estate phenomenon.
By Bruce Percelay
Published August 2021 via NantucketMagazine.com
“…On a more granular level, few have a better read on the Nantucket real estate market than the local agents who have been riding this rocket ship for a year and a half. ‘It’s my belief that the initial driver of this demand was primarily emotional—buyers who were considering purchasing on the island sped up their timeline in 2020 as Nantucket was considered a bit of a safe haven from the pandemic,’ explained Jen Shalley Allen, one of the principal brokers of Fisher Real Estate. ‘This year, the emotional component remains, but there has also been substantial wealth generation for many of the island’s visitors. Nantucket real estate typically tracks the stock market. Add to this the fact that buyers can access record-low mortgage rates and it’s truly a perfect storm for demand.'” Link to read more on NantucketMagazine.com.