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October 2017 Nantucket Real Estate Market Insights

After a tremendous September performance, with or without the $37.5 million Nantucket Storage Center sale included, monthly real estate figures continued to post impressive sales in October with 53 transactions totaling $130 million. This represents a 6 percent increase in transactions and a 20 percent increase in dollar volume thanks to two ultra-high-end sales. With this monthly activity, year-to-date sales through October 31, 2017 included 368 transactions totaling $828 million—a 3 percent year-over-year decline in transactions but a 6 percent overall rise in dollar volume. An increase in higher price point home sales continued to buoy both dollar volume and the median home sale price while vacant land sales were limited on account of reduced inventory. New purchase contracts in October suggest it will be a close call as to whether the 2017 market will hit the lofty $1 billion mark. Here are Fisher’s October 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.