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October 2018 Nantucket Real Estate Market Insights

The 2018 Nantucket real estate market is certainly keeping everyone on their toes!  There was the superb performance of the first quarter, the rather lackluster second quarter followed by a relatively strong third quarter, and now a record-breaking monthly performance in October.  In fact, no monthly period comes close to matching the $210 million of dollar volume that took place through 60 transactions in October.  A $19.58 million waterfront sale by Fisher Real Estate led monthly transactions and also marked the highest property sale so far this year.  Two additional $10M+ transfers combined with 11 transactions between $5M and $10M propelled dollar volume into a figure typically seen for cumulative quarterly data.  As of October 30, 2018, cumulative sales data for all property types measured $895 million through 366 transactions.  If there was any question that this year’s market would hit $1 billion, once preliminary November transactions are included, we are already there. Here are Fisher’s October Market Insights…  

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Jennifer Shalley Allen

Jen has worked on an impressive array of real estate transactions including two of the island’s largest and most complex vacant land transfers, commercial transactions, and 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. Jen ranks as one of the top 10 brokers on the island and has one of the lowest days on market to highest sale price ratio for her listings.

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.