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October 2023 Nantucket Real Estate Market Insights


Market Insights

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“Thanks to another solid month of activity in the upper end of the market in October, Nantucket real estate saw its second highest monthly dollar volume so far this year. Monthly sales included 43 transactions totaling $170 million, slightly lower than the previous high-water mark of $199 million set in September.  On a cumulative basis for the 10 months ending October 31, 2023, there were 247 property transfers totaling $984 million, a decline of 29 percent and 22 percent from 2022. Though single-family home sales were the lowest they’ve been since 2011, the value of the units sold, particularly at the high-end, contributed handsomely to year-to-date totals.  Inventory levels continued to rise while new purchase activity was well off previous year’s activity.”

Here are Fisher’s October market insights from Jennifer Shalley Allen…