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June 2017 Nantucket Real Estate Market Insights

June 2017 Nantucket real estate sales included 47 transactions totaling $97.1 million, a dramatic increase from May 2017 and a modest increase of two percent and 12 percent respectively from one year ago. On a cumulative basis, first half sales activity through June 30, 2017 included 188 transactions totaling $381.8 million, a 15 (#) percent and 6 percent ($) decline from the same period one year ago. Historically low property inventory, particularly in the sub-$2 million market, was the primary driver of reduced transaction activity for both residential and vacant land sales. On the new activity front, purchase contracts for 1H17 were higher than 1H16 suggesting this year may see a better second half than one year ago. Here are Fisher’s June 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.