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July 2016 Nantucket Real Estate Market Insights

Fisher’s Nantucket Real Estate Report: July 2016

The substantial performance gap that the 2016 Nantucket real estate market held over 2015 narrowed significantly in July as monthly transaction activity fell to one of the lowest on record within the last two years (not surprising when viewing the low contract activity in March). July sales included just 17 transactions totaling $42 million, a 55 percent and 44 percent respective decline from July 2015. Though the yearover-year gap may have narrowed, the 239 transactions totaling $449 million through July 31, 2016 still represent respective increases of eight and 15 percent from one year ago. Additionally, key sales metrics remain among the strongest in Nantucket’s history and early August contracts are off to an excellent start, suggesting that while the market may be moderating from its impressive transaction pace during the first half, the fundamentals remain quite strong. Here are Fisher’s July 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.