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May 2021 Nantucket Real Estate Market Insights


Market Insights

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“Just when we thought historic records couldn’t possibly continue to be dwarfed, Nantucket’s spring and early summer market took hold.  April 2021 activity measured five times the dollar volume of the historical average while May 2021 sales were also record-setting.  Though May dollar volume declined to just half of the meteoric $250 million in sales we saw just one month ago, the $119 million in sales far surpassed any previous May on record.  These exuberant transaction months brought Nantucket real estate sales to 277 transactions totaling $721 million through May 31, 2021. This is a respective 152 percent and 161 percent increase from 2020, which of course was a record year for the island.  Full price offers have increased substantially, high-end sales continue to drive dollar volume, marketing times are plummeting, and inventory remains historically low.Here are Fisher’s May market insights… Jennifer Shalley Allen