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June 2019 Nantucket Real Estate Market Insights


Market Insights

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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…