There have been 22 sales of Nantucket properties for over $10,000,000 since the beginning of 2014. All but 2 were residential properties and there were no sales of vacant land over $10 million during this time period. The two commercial sales were 100 Pleasant Street (including five other commercial properties in the Mid-Island area), selling for $10,730,000 to Santander Bank in January of 2014 and the Harborview Cottages, located on the harbor in Town, selling for $15,500,000 in June of 2014.
Of the 20 residential properties, the majority were located directly on either the ocean or the harbor. Most were in new or updated condition and with the latest amenities: swimming pools, entertainment areas inside and out, all new systems and high end custom kitchens and baths. The hottest location for sales over $10 million is the Cliff area (9 sales), located just to the west of Town. The appeal is proximity to Town, north shore beaches and private clubs but with larger lots and more surrounding space than in Town.
The super high end on Nantucket has been somewhat slow this year with only 3 sales to date in 2016 over $10,000,000, of which two were brokered by Atlantic East. They are: 14 Gosnold Road, a newer home with water views and access located in the Cliff area ($10 million), 131 and 133 Main Street, a newly renovated farmhouse and cottage with pool and adjacent extra lot ($10,375,000) and 28 Easton Street in Brant Point, a harbor front property with a main house, cottage, studio and rare dock ($19 million). There is one pending sale over $10 million, located on Nantucket Sound in the Cliff area.
There are currently 26 properties listed over $10 million; 11 of which are waterfront. There have been many factors at play this year that impact this price sector, including the presidential election. Only time will tell how the very high end fares by the end of 2016.