Nantucket's real estate market operated on a new scale. Similar to Texas, everything was bigger including the prices and the sizes of the houses.
A recent addition to the inventory was a dream house at 121 Eel Point Road in the Dionis district, west of town. At $35 million, it was the highest-priced Nantucket property on the market. It was not Nantucket's most costly listing ever though as that title belongs to a 68.6 acre waterfront property at Swain's Neck that went up for sale at $59 million in 2012. Since then, it had been taken out of the market.
The Nantucket property at 121 Eel Point Road featured an oceanfront location and sweeping green lawns, a long, winding, fairytale-inspired driveway and enough privacy to make a person feel like they've stumbled on the fringes of the world, according to a feature from Farmissy.
The home is just one of five properties now for sale on Nantucket that cost over $20 million. Michele Kelsey, a Jordan Real Estate broker and lead agent on the Eel Point Road estate, said that she felt because of the supply and demand for Nantucket real estate, prices will continue to increase and the market will most likely experience more properties reaching multi-million dollar listings.
Kelsey said that Nantucket offered a one-of-a-kind community, elite yet with easy accessibility, clean beaches, tranquility, luxury, restaurants, boutique shopping, golfing, boating, history, seclusion, safety and a solid investment. She also said that Due to the limited inventory, and strong demand, costs will continue to soar for the island.
Nantucket also has the star factor. Secretary of State John Kerry had a house nearby. And Kelsey said nearby property owners like celebrated designer Tommy Hilfiger and Elizabeth Frawley Bagley, an ex-ambassador to Portugal, will continue to adore properties like these because of the sophistication and privacy they offered. She also said that people fell in love with Nantucket, and wanted these homes because they fulfilled the majority of their needs and are ready to purchase the property of their dreams, according to a report from Active Rain.
