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September 2022 Nantucket Real Estate Market Insights


Market Insights

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“After two years of record-setting sales volume, 2022 has settled into a pace that is not as fiery as what we saw in 2020-2021 but is healthily above pre-pandemic figures.  September 2022 activity included 43 transactions totaling $194 million, bringing third quarter totals to 88 transactions measuring $368 million.  While this is a respective decline of 48 percent and 36 percent from third quarter activity one year ago, it surpasses every previous third quarter in island history from a dollar volume perspective.  In a continued low-inventory environment, unit sales were down dramatically while dollar volume remained robust.  Limited supply also kept a lid on new contracts but an increase in price reduction activity showed that values may not continue their steep upward trajectory in the same way we witnessed the last two years. ”

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