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June 2020 Nantucket Real Estate Market Insights


Market Insights

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June 2020 Nantucket real estate data continued to show the impact of the pandemic on the local market. In total, monthly sales included 18 transactions totaling $47.5 million, a 42 percent decline in both transaction and dollar volume from June 2019. In fact, the entirety of the second quarter was down approximately 40 percent from 2Q19. Given that the first quarter of the year didn’t reflect much of the impact of COVID-19, cumulative data through June 30, 2020 posted a 24 percent decline in transactions and a 14 percent drop in dollar volume. Yet, while June sales data was more markedly lower than historic norms, new contract activity surged ahead. Combined with a significantly reduced level of property inventory, we anticipate the third quarter will rebound quite nicely. Until then, here are Fisher’s Market Insights for 1H20…