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March 2023 Nantucket Real Estate Market Insights

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Market Insights

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First quarter Nantucket real estate transactions dropped to figures not seen since 2009 but signs continued to point to this reduction being driven by limited inventory given multiple bid situations and significant appreciation figures being posted. After a slower than typical start to 2023, March sales rebounded and first quarter activity totaled 45 transactions totaling $165 million in sales, a respective decline of 47 percent and 38 percent from 1Q22. 

Additionally, new contract activity during the month was just as strong as it’s been the last few years, signaling the market remains on solid ground and may well stay that way if real estate continues to be a haven for investors looking to diversify assets amidst unrest in the financial markets.

Here are Fisher’s March market insights from Jennifer Shalley Allen…