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June 2019 Nantucket Real Estate Market Insights

This year’s first half report is the opposite of what we were writing about one year ago. In 2018, we were coming off a head-turning, stellar first quarter, yet saw more subdued second quarter results. We had another head-turner of a first quarter this year, but this was due to the fact that transaction figures were down 39 percent from 2018. The good news this summer is that we have a much more vibrant second quarter to report. Sales included 93 transactions totaling $237 million through the three months ending June 30, 2019, a respective 13 percent and 35 percent increase from the same period one year ago. Cumulatively, for the six months ending June 30, 2019, there were 168 property transfers totaling $378.5 million. This narrows the year-over-year gap to 18 percent on a transaction basis and 14 percent on a dollar volume basis. Additionally, contract activity during the second quarter was much improved, setting the stage for a promising few months ahead, typically the busiest of the year. Here are Fisher’s 1H19 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.