There were 31 closings during May, compared to 42 in 2014. The total value of real estate sold in May was $57,583,000, compared to $65,018,000 in 2014. This decline is largely due to the decrease in the number of properties available for sale and buyers who are willing to wait in order to get what they want. The average sale price is still on the rise – for May it was $1,858,000; last May it was $1,548,000. The least expensive residential (non-condo) sale during the month was 5 Jeans Way, a small house in the Mid-Island area selling for $500,000. The priciest sale was 47 Cliff Road for $10,350,000, an estate property with subdivision potential, that had been listed at $12,000,000 at the time of the sale.
![230ed7e5[1]](https://nantucketrealestate.com/wp-content/uploads/2015/06/230ed7e51.jpg)
47 Cliff Road from the air
The least expensive land sale was 16 Sleepy Hollow Road, a .23 acre lot located in the Miacomet area, selling for $335,000. The priciest land sale was 17 Delaney Road, a 5,000 s.f. lot, in the Cliff area, selling for $1,000,000.
The only commercial transfer in May was 9 Essex Road, #a, a condominium unit located in the Mid-Island area.
2015 YTD Sales Summary 5.31.15