Fishers Island Real Estate Review February 2022

Mystic Isle Realty’s synopsis of the current
real estate market on Fishers

2020 and 2021 were record-breaking years for Fishers Island in both sales and rentals of properties. Those years have affected the real estate market today; there is minimal inventory in both categories. At present, we have two undeveloped lots for sale, one located on the West End and one on the East End.

The demand to purchase a home on Fishers remains robust. That coupled with the inventory shortage has increased price values on the island. In my opinion, the following are reasons for the increased values and demand:

  • The Covid Pandemic
  • Strong Economy
  • Increased Wealth and Liquidity across all age demographics
  • Technology and increase in remote work options
  • Escape from the large cities

As we all know, Fishers is a special spot, and many are enticed to come here to appreciate the calm and beauty it provides for all of us as an escape from the hectic pace of everyday life. For this reason, there is an extremely high demand for rentals and, unfortunately, low inventory during the peak months of the summer. We are always in dialogue with owners, and the supply of rentals changes constantly.

Please stay in touch as we continue to try and make the right fit with tenants and available houses. If you are a homeowner and on the fence about renting, now is the time to call and discuss the options with us as we head into late winter and early spring.

Thank you,

Jim – 860.885.9880 jimreid@mysticislerealty.com

Ace – 203.613.7181 andrew.ahrens1@gmail.com

Meg – 203.470.3622 mrafiny@gmail.com

Published: February 2022

 

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