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September 2017 Nantucket Real Estate Market Insights

September 2017 Nantucket was indeed an excellent sales month, but, contrary to other reporting, it was not the second-best sales month on record for Nantucket real estate, at least for how the market has been traditionally viewed. The $37.5 million sale price of the Nantucket Storage Center overwhelmingly places value on the business not the property, which is only assessed for $9.9 million. Nantucket real estate figures do not include business sales so just as the previous sale of this property for $27 million was widely excluded by most reporting authorities in our market in 2015, it is excluded from Fisher’s 2017 figures. The remaining 59 transactions totaling $145 million are no doubt impressive but are certainly not record setting considering they are just shy of the $148 million in September 2016 and several other monthly totals over the last 15 years. Are we in the midst of a very strong market? Absolutely. And the following market statistics illustrate this, but let’s compare apples to apples. Here are Fisher’s September 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.