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June 2018 Nantucket Real Estate Market Insights

While data through the end of the first quarter showcased a head-turning 38 percent year-over-year increase in transaction activity and a 59 percent rise in dollar volume from 2017, Nantucket real estate sales moderated in the second quarter. Sales included 203 transactions totaling $441.7 million through June 30, 2018, marking an eight percent increase in transactions and a 16 percent rise in dollar volume through the same period one year ago. On a transaction basis, this is slightly below the 222 property sales that took place 1H2016 ($407 million) yet higher than every other first half period since 2006. Vacant land transactions led the charge, with units sold rising 59 percent from 1H2017, while single-family home sales rose four percent from the same period. June contract activity was lighter than one year ago, though comparable to June 2016, while total second quarter contract activity was notably lighter than in previous years. Inventory levels rose slightly while price reduction activity declined. Here are Fisher’s Market Insights for 1H18…

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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.