Category Archives: Nantucket Real Estate

Sconset Real Estate- Sold Listing

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New Nantucket Home in Sconset Sells for $3,485,000

10 Lincoln St Siasconset

10 Lincoln St Siasconset

Located in the heart of ‘Sconset Village and situated on an over-sized lot on a quiet, shelled lane, this property consists of a four/five bedroom main house with three floors of living and a separate garage with attached outdoor shower. Botticelli & Pohl designed and newly constructed in 2011, this stunning home is reminiscent of a classic ‘Sconset rambling summer home with all the modern amenities and sophistication inside.  Wonderful architectural details, custom built-ins, and use of materials throughout.  Exquisitely landscaped terraced private yard, with stonewall, two porches, patio, and pergola perfect for entertaining and relaxing.  Offered mostly furnished excluding personal items and artwork.

Exclusively Listed by Roberta White, Windwalker Real Estate.

Browse Sconset Nantucket Real Estate listings here or familiarize yourself with different communities in the beautiful island of Nantucket

 

 

 

Nantucket Real Estate Market Report: 5/10/13 – 5/17/13

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First-time homeowners taking advantage of low mortgage rates and real estate investors searching for yield have created a surge in the number of sales for properties under $1 million, practically depleting available inventory in this price point.  Sub-$1million property sales represent nearly 74% of all transactions but account for only 25% of available listings. Even more surprising is the fact that of the 115 available listings with current asking prices under $1 million, only 38 are single-family homes, with land (44), commercial (12) and condo/co-op/multi-family properties (21) representing the difference.

In contrast to the activity in the low-end, high-end inventory continues to increase as favorable market conditions have lured high-end property owners to market.  Since April 1st, 15 properties with current asking prices over $5 million totaling $152.15 million have come to market.  As the market hasn’t yet seen strong sales activity in this price segment, listings that carry an asking price of over $5 million currently total 45 properties (40 of these listings are single-family homes).  This means that inventory for single-family homes under $1 million is less than inventory for single-family homes over $5 million.

What does this mean?  Conditions look good for low-end home owners looking to list in a low inventory environment, and high-end home buys looking for leverage in an over-supplied segment of the market.

The following is the Nantucket Real Estate Week in Review for the week ending May 17th, 2013

4 Nantucket Property Transactions Closed:

  • Sales Totaled $4,505,650
  • Average Sale Price: $1,126,413
  • Highest: 7 South Valley Road for $1,550,000
  • Lowest: 29 Friendship Lane (Multi-Family) for $647,000
7 South Valley Road (Killen Real Estate) - Shimmo, Nantucket, MA

7 South Valley Road (Killen Real Estate) – Shimmo, Nantucket, MA

5 Offers Were Accepted:
  • Highest: 20 York Street most recently listed for $1,325,000
  • Lowest: 41 Macy’s Lane most recently listed for $559,000
20 York Street (Windwalker Real Estate) - Town, Nantucket, MA

20 York Street (Windwalker Real Estate) – Town, Nantucket, MA

8 Purchase & Sale Agreements Were Executed:

  • Highest: 4 Capaum Road most recently listed for $3,250,000
  • Lowest: 10 Backus Lane (Lot 4, Land) most recently listed for $175,000
4 Capaum Road (Windwalker Real Estate) - Cliff, Nantucket, MA

4 Capaum Road (Windwalker Real Estate) – Cliff, Nantucket, MA

20 Nantucket Properties Came to Market:
68 Pocomo Road (Windwalker Real Estate) - Pocomo, Nantucket, MA

68 Pocomo Road (Windwalker Real Estate) – Pocomo, Nantucket, MA

 5 Price Changes Occurred This Week:

  • Largest Price Reduction: 38 Fair Street, reduced 11.09% to $1,685,000 from original list price of $1,895,000
38 Fair Street (Windwalker Real Estate) - Town, Nantucket, MA

38 Fair Street (Windwalker Real Estate) – Town, Nantucket, MA

~ Report by Windwalker Real Estate Research Department, Pete Kaizer & Jennifer Shalley

* All content provided herein reflects all information available on LINK, Nantucket Listing Service, as of the time this article was posted.

Sconset Summer cottage in Nantucket Sells for $838,650

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Sconset cottage

19 Broadway Sconset- Listed by Coffin RE and sold by Windwalker Real Estate

This quaint Nantucket summer cottage located just a short distance from the historic village of ‘Sconset just sold for $838,650.

Browse more Sconset Cottage listings here or familiarize yourself with different communities in the beautiful island of Nantucket

Nantucket Real Estate Market Report: 5/3/13 – 5/10/13

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After covering the hearty activity in the sub-$1 million price point over the past couple of months, this week’s Nantucket real estate market revealed that the high-end is beginning to percolate.  Through April, only three properties had sold for more than $4 million, but this is soon to change. In the last week alone, five properties last listed for a combined total of $42.05 million have gone under agreement while another $4.15 million property in Quaise changed hands.  The low-end is no longer stealing the limelight!

The following is the Nantucket Real Estate Week in Review for the week of 5/3/13 to 5/10/13

6 Nantucket Property Transactions Closed:

  • Sales Totaled $9,727,000
  • Average Sale Price: $1,621,167
  • Highest: 6 Quaise Pastures Road for $4,150,000
  • Lowest: 26 Macys Lane for $475,000
6 Quaise Pastures Road (The Maury People) - Polpis, Nantucket, MA

6 Quaise Pastures Road (The Maury People) – Polpis, Nantucket, MA

8 Offers Were Accepted:
  • Highest: 11 Lincoln Avenue most recently listed for $10,900,000
  • Lowest: 41 Macy’s Lane most recently listed for $559,000
11 Lincoln Avenue (Great Point Properties) - Cliff, Nantucket, MA

11 Lincoln Avenue (Great Point Properties) – Cliff, Nantucket, MA

7 Purchase & Sale Agreements Were Executed:

  • Highest: 79 Eel Point Raod most recently listed for $11,800,000
  • Lowest: 133B Old South Road (Condo) most recently listed for $185,000
79 Eel Point Road (Atlantic East RE) - Dionis, Nantucket, MA

79 Eel Point Road (Atlantic East Nantucket Real Estate) – Dionis, Nantucket, MA

27 Nantucket Properties Came to Market:
  • Total Dollar Value: $75,188,000
  • Average Asking Price: $2,784,741
  • Highest Value: 9 Fulling Mill Road currently listed for 12,999,000
  • Lowest Value: 47 Appleton Road currently listed for $349,000
9 Fulling Mill Road (Jordan Real Estate) - Polpis, Nantucket, MA

9 Fulling Mill Road (Jordan William Raveis Real Estate) – Polpis, Nantucket, MA

 6 Price Changes Occurred This Week:

  • Largest Price Increase: 23F West Chester Street (Condo), increased 8.95% to $730,000 from original list price of $670,000
  • Largest Price Reduction: 3 Elliotts Way, reduced 10.17% to $7,995,000 from original list price of $8,900,000
23F West Chester Street (Great Point Properties) - Town, Nantucket, MA

23F West Chester Street (Great Point Properties) – Town, Nantucket, MA

~ Report by Windwalker Real Estate Research Department, Pete Kaizer & Jennifer Shalley

* All content provided herein reflects all information available on LINK, Nantucket Listing Service, as of the time this article was posted.

Nantucket Real Estate Market Report: 4/26/13 – 5/3/13

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April is out and the numbers are in! As of this time, the preliminary numbers for April 2013 show 31 transactions closing for $25.3 million. While dollar volume for the month came in below the 5 year trailing average, currently at $35.5 million, the 31 closings witnessed in April is the most in that month dating back to 2007. The disconnect between relatively high transaction volume and low dollar volume can be attributed to one theme we’ve been discussing throughout 2013- the strength in the under $1 million price point. In April alone, 74% of the transactions were for such properties, surprisingly higher than the 72% of all sales that we saw through 1Q13.

Continuing on this topic, a quick inventory snap shot by price point shows that there are currently 114 properties listed (excludes OTP and P&S) for less than $1 million out of a total 374 properties currently listed on LINK Nantucket Listing Service. If there was ever a imbalance in the Nantucket real estate market, it appears that we’ve found it. Through the end of the first four months of the year, properties under $1 million have represented 73% of all sales, yet the same price point currently represents only 30% of all available properties. How will this play out as the year moves on? There are a number of scenarios that could take place to push the forces of supply and demand back towards equilibrium. Since only time will tell, we’ll have to wait and see…

During the week of 4/26/13 to 5/3/13 – 8 Nantucket Property Transactions Closed:

  • Sales Totaled $5,535,500
  • Average Sale Price: $691,938
  • Highest: 268 Polpis Road for $1,728,000
  • Lowest: 97B Goldfinch Drive for $235,000
268 Polpis Road (Grey Lady Properties) - Polpis, Nantucket, MA

268 Polpis Road (Grey Lady Properties) – Polpis, Nantucket, MA

6 Offers Were Accepted:

  • Highest: 24 Walsh Street most recently listed for $1,695,000
  • Lowest: 10 Backus Lane (Lot 3) most recently listed for $175,000
24 Walsh Street (Atlantic East Real Estate) - Brant Point, Nantucket, MA

24 Walsh Street (Atlantic East Real Estate) – Brant Point, Nantucket, MA

5 Purchase & Sale Agreements Were Executed:

  • Highest: 29 Orange Street most recently listed for $3,600,000
  • Lowest: 11B Daffodil Land most recently listed for $649,500
29 Orange Street (Congdon and Coleman Real Estate) - Town, Nantucket, MA

29 Orange Street (Congdon and Coleman Real Estate) – Town, Nantucket, MA

14 Nantucket Properties Came to Market:

  • Total Dollar Value: $33,258,100
  • Average Asking Price: $2,375,578
  • Highest Value: 9 Fulling Mill Road currently listed for 12,999,000
  • Lowest Value: 40A Nobadeer Farm Road currently listed for $320,100(came to market with an accepted offer status)
9 Fulling Mill Road (Jordan Real Estate) - Polpis. Nantucket, MA

9 Fulling Mill Road (Jordan Real Estate) – Polpis. Nantucket, MA

 2 Price Changes Occurred This Week:

  • Largest Price Reduction: 47 Easton Street, reduced 20.99% to $2,975,000 from original list price of $3,765,000
47 Easton Street (Maury People) - Brant Point, Nantucket, MA

47 Easton Street (Maury People) – Brant Point, Nantucket, MA

~ Report by Windwalker Real Estate Research Department, Pete Kaizer & Jennifer Shalley

* All content provided herein reflects all information available on LINK, Nantucket Listing Service, as of the time this article was posted.