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September 2018 Nantucket Real Estate Market Insights

While the first quarter of the year showcased a whopping 38 percent year-over-year increase in transaction activity, the second and third quarters were nearly on par from a comparative standpoint, each posting an approximate 18 percent decline in transaction volume from 2017.  Nantucket real estate sales through September 30, 2018 included 306 transactions totaling $685 million, a cumulative three percent decrease in transactions and a two percent drop in dollar volume through the same period one year ago.  Single-family home sales remained steady as compared to the five-year average but were down on a year-over year basis.  Vacant land sales, on the other hand, posted record results from previous years.  Inventory levels rose modestly while price reduction activity increased just slightly. 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.