“For the second time in 2023, the Nantucket real estate market surpassed $100 million in monthly sales volume, this time led by a record-breaking sale. The $38.1M sale of 21 Berkeley Avenue (and contiguous lots) raised the bar for the highest property sale on the island, just above the $37.6M record set in 2022. June transactions brought year-to-date volume to $429M through 115 property sales. This kept the year-to-year gap to 44 percent lower in transactions and 38 percent lower in dollar volume.

Thirty-two percent of June property sales transferred at or above the original asking price. Forty percent sold for less than a seven percent discount while the steepest discount was 32 percent. While inventory levels held steady, there was a notable uptick in high-end listings with 16 new listings priced above $5 million. Two of these were above $20 million and are both waterfront properties. New purchase activity saw a notable increase in June with 37 new contracts, well above the 20 contracts last month and above the 27 from June of 2022.” Jennifer Shalley Allen