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November 2016 Nantucket Real Estate Market Insights

With one month to go in the calendar year, November’s sales results positioned the 2016 Nantucket real estate market ahead of full year results for 2015 but likely kept it shy of reaching the $1 billion mark by year’s end. Monthly sales figures included 49 transactions totaling $96 million, slightly lower than October’s results (50 transactions totaling $109 million) but noticeably ahead of November 2015 figures, which included 38 transactions totaling $70 million. Excluding foreclosures and covenant sales, year-to-date sales included 430 transactions totaling $880 million, a respective 1 percent decline (#) and 13 percent rise ($) from the same period in 2015. Property values continued to increase, a trend we anticipate will continue based on current contract activity, and vibrant home sales activity led to an overall decline in the average marketing time and total inventory. The number of properties taken off-market increased, a surprising trend based on historic first quarter contract activity. Here are Fisher’s November Market Insights

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Jennifer Shalley Allen

Jen first stepped foot on the shores of Nantucket while working a summer job at the White Elephant while studying at the University of Virginia. It wasn’t until 2008, after having spent six years in the financial sector at Citigroup and then Wachovia, that she was drawn back to the island more permanently. Since that time, Jen has worked on an impressive array of real estate transactions exceeding $240 million. This includes, among others, two of the island’s largest and most complex vacant land transfers, several commercial transactions, and many single-family home sales, from high-end residential estates to lender-owned asset dispositions. Capitalizing on her extensive background in finance and market knowledge, Jen is well known for her unparalleled “Nantucket Real Estate Report,” an in-depth monthly market commentary and analysis that has been quoted by CNBC and The Boston Globe.

When not showing properties or researching the Nantucket real estate market, Jen can be found volunteering with Swim Across America Nantucket, a local fundraising event for cancer treatment and patient care at Nantucket Cottage Hospital or sitting on committees for other Nantucket nonprofits. She loves traveling, spending time outdoors with husband Mike and lab Sammy, and is an avid runner, cyclist and triathlete.