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July 2020 Nantucket Real Estate Market Insights

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Market Insights

Jen Shalley Allen
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July represented the first month since February that saw a year-over-year increase in sales volume. And the increase was remarkable at nearly two and a half times the volume witnessed during each of the months in the second quarter. Monthly sales included 44 transactions totaling $126 million through the period ending July 31, 2020, a respective 47 percent and 40 percent increase from the same period one year ago and the highest July sales volume on record. Cumulatively, for the six months ending June 31, 2020, there were 172 property transfers totaling $450 million. This narrowed the year-over-year gap to 13 percent on a transaction basis and just four percent on a dollar volume basis. Single-family homes sales caught up to 2019 levels, while land and commercial sales lagged behind. Contract activity also set a historic record, setting the stage for a vibrant third and fourth quarter. Here are Fisher’s Market Insights for July 2020

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Jen Shalley Allen

Jen has worked on an impressive array of real estate transactions including two of the island’s largest and most complex vacant land transfers, commercial transactions, and single-family home sales,