The Nantucket Real Estate market continues to gain strength. Listings that are currently posted on the MLS as having accepted offers or purchase and sales agreements equals 9.8% of the total property listings. This is up from 8.5% one year ago. So, the market is 15% stronger than it was one year ago at this [...]
It was a monster week for Nantucket real estate sales. The week ending Thursday, September 23 had a little over $65MM in total real estate volume. What is very encouraging is that there were deals across all price ranges including a huge one for $22MM that sold with an abutting parcel for $5.5MM, to a [...]
11 and 16 Cathcart Road located on Nantucket’s prestigious harborfront location just had a price reduction from $38.5MM to $29MM. The properties were originally priced at $55MM, which everyone knew was an astronomical asking price. Now, the Seller is getting into the realm of market value. Will update with any developments. Until next time Nantucket [...]
13 Squam Road closed yesterday for $12.75MM. The property has been on the market for over three years, originally starting at $19.95MM. Although the Buyer received a significant discount off the original asking price, it goes to show market stabilization, the bottom is forming and properties once again have a liquid value. Encouraging news for [...]
Rumor has it that 13 Squam Road, located on Nantucket’s exclusive eastern shoreline, is under agreement for $13.07MM. It is a stunning piece of property with a house, guest house, swimming pool, tennis court and boardwalk to the beach. It originally started at $19.75MM, 3.5 years ago. Seems like a bottom is forming in the [...]
Word on the Nantucket Real Estate Street is that 30 Easton Street received an accepted offer for just north of $15MM. Another sign that the Nantucket real estate market is stabilizing and possibly picking up momentum. As this is fresh news, don’t tell anyone I told you, wink-wink.
The asking price of this Nantucket listing at 25C Washington Street has just been reduced to $1.495MM from $1.649MM. The property last traded on 9/18/06 for $1.72MM and is currently assessed at $1.639MM. This is a great value for a new 4 bedroom, 2.5 bath house in Town with peek-a-boo water views of the Harbor. [...]
Jailed former Tyco International boss L. Dennis Kozlowski has slashed $3 million off the asking price for his oceanfront pad. Problem is the “reduced” price is still $19.9 million. Kozlowski, who is raising money to pay fines and restitution, paid bought the nearly four-acre property nine years ago for $5 million. Read Article
Nantucket is a magnificent, but the real estate prices make it out of reach for some that have been a part of Nantucket for many generations. I was speaking with a third generation cab driver the other day and asked him what he thought about the Island now. The one thing that he highlighted was [...]
Convicted Tyco chief L. Dennis Kozlowski’s oceanside mansion in Nantucket, where the king of lavish corporate spending hosted a $200,000 wedding for his daughter in 2003, has tripled in value since he bought it in 1997 for $5 million according to a what a top island real estate executive told the Herald. It is a [...]
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