The Nantucket real estate market is on a thrilling ride, capturing international attention with its record-breaking sales and relentlessly high demand. In this update, we’ll recap the highlights of recent developments and take a look ahead at the upcoming events and exciting trends that will wrap up the year.
A Historic Sale: 72 Main Street
This year marked a major milestone in Nantucket’s real estate history with the sale of the iconic 72 Main Street property. Sold at an astounding $25 million, this transaction set a new record for the Nantucket real estate scene — not just in terms of price but also in preserving and celebrating the island’s unique architectural legacy.
This sale reflects the elevated status of Nantucket in the luxury real estate sector, underscoring the island's endless allure in the eyes of high-end buyers worldwide. Partnering with Sotheby’s International Realty, we leveraged our trusted network across key markets, connecting Nantucket with a discerning global audience to achieve success in this critical transaction.
This sale reflects the elevated status of Nantucket in the luxury real estate sector, underscoring the island's endless allure in the eyes of high-end buyers worldwide. Partnering with Sotheby’s International Realty, we leveraged our trusted network across key markets, connecting Nantucket with a discerning global audience to achieve success in this critical transaction.
Market Review: What are the Numbers to Know?
The numbers this year emphasize the enduring strength and appeal of Nantucket’s real estate landscape.
- Total Transactions: Sales are up by 15% compared to last year, indicating robust interest across all property types.
- Luxury Market Growth: High-end properties, particularly those valued above $10 million, have surged with an astounding 20% increase in activity, illustrating Nantucket's growing status among luxury real estate hubs.
- Rising Median Home Prices: Prices have climbed an impressive 10% year-over-year, largely driven by Nantucket’s most sought-after properties.
- Low Inventory Levels: Demand for prime properties continues to outpace supply, contributing to competitive bidding scenarios and fast closing procedures.
As we head into the last quarter of the year, we anticipate a steady pace with multiple high-profile listings, off-market deals, and an active fall, winter, and spring market once 2025 rolls around. For those interested in insights or a closer look at Nantucket’s market trends, don’t hesitate to reach out.
Upcoming Events to Celebrate the Season
Nantucket’s holiday season is one of the most enchanting times on the island. Here’s what you can look forward to.
- Tree Lighting Ceremony (November 29, 2024): This annual tradition lights up Nantucket with over 150 trees glowing in holiday cheer. Join the community for caroling and live music — a true holiday spectacle that brings people together in joyous celebration.
- 50th Christmas Stroll (December 6-8, 2024): The beloved Christmas Stroll returns for its 50th anniversary, marking half a century of Nantucket holiday magic. Festivities include the much-anticipated arrival of Santa via his nautical “sleigh” on Saturday at noon, along with beautifully decorated storefronts, holiday treats, and tons of festive fun.
- Prestigious Property Showings: Throughout the holiday season, we’re offering private tours of some of the island’s most alluring properties. Whether you’re exploring Nantucket for a beautiful new home or simply enjoying the holiday spirit, these tours offer a special glimpse into Nantucket’s luxury real estate scene.
A New Personal Project on Polpis Road
We’re excited to share the completion of our latest project at 307 Polpis Road. This quiet seven-bedroom oasis is a stunning addition to our portfolio, and we’re enamored with the final result, showcasing a gorgeous private deck, an expansive heated pool, soaring cathedral ceilings, and much more. The property is now available for rent, making it an ideal choice for anyone looking to experience Nantucket’s amenities in style.
For availability and rates, feel free to reach out — we’d be delighted to share more about this beautiful home-away-from-home.
For availability and rates, feel free to reach out — we’d be delighted to share more about this beautiful home-away-from-home.
Current Listings Spotlight
For those on the hunt for a dream home or a sound investment, the Nantucket real estate market has several prime listings available. The fall season brings unique opportunities, with properties that capture both the island’s historic charm and contemporary sense of luxury.
If you’re interested in learning more about the standout options currently on the market, let’s talk about how Nantucket’s offerings align with your vision.
Check out these incredible listings:
If you’re interested in learning more about the standout options currently on the market, let’s talk about how Nantucket’s offerings align with your vision.
Check out these incredible listings:
Nantucket Showcase: What's Trending Now
This season, Nantucket’s captivating ambiance and beautiful landscapes have taken center stage, drawing attention from visitors and media alike. Here’s what’s creating all the buzz:
- “The Perfect Couple” on Netflix: Nantucket has become the picturesque setting for the popular Netflix series based on Elin Hilderbrand’s bestselling novel, The Perfect Couple. The series showcases the island’s charm and coastal splendor, sparking interest from viewers eager to visit the stunning locations seen onscreen. The show has brought new visitors to Nantucket as fans seek to experience the setting of this modern mystery and romance tale.
- Nantucket Scallop Season: The island’s scallop season is well underway! The “family” scalloping season, which began on October 1 and will run through March 31, 2025, allows recreational scallopers to enjoy the bounty of Nantucket’s waters from Wednesday through Sunday. Commercial scalloping season started on November 1, and local scallops will be available through the end of March. Not on the island? You can still get a taste of Nantucket’s famous scallops by ordering a delivery to enjoy fresh, local flavors from afar.
- Miss Peaches’ Rescue Story: In a feel-good story that has captured hearts all around, Dave Portnoy’s adopted dog, Miss Peaches, has quickly become a Nantucket celebrity. This lovable rescue pup is enjoying the high life at Portnoy’s Nantucket summer home, a testament to the island’s pet-friendly setting and commitment to animal welfare. Follow Miss Peaches’ adventures to see how she’s enjoying life on the island.
Looking Ahead
With the holiday season approaching and the Nantucket real estate market in full swing, it’s an exciting time to be part of this dynamic community. From record-breaking sales to holiday festivities, there’s no shortage of activity on this beloved island.
As always, feel free to reach out to me, your trusted real estate broker Bernadette Meyer, if you’d like a deeper conversation about Nantucket’s real estate market, current listings, or upcoming opportunities.
As always, feel free to reach out to me, your trusted real estate broker Bernadette Meyer, if you’d like a deeper conversation about Nantucket’s real estate market, current listings, or upcoming opportunities.
