How Much Does a House on Nantucket Cost?
The median home value was $3.73 million and the average home value was $4.88 million as of December 31, 2024.
For an enchanting island 30 miles out to sea, people often wonder “how much does a Nantucket house cost”? Of course, there’s no easy answer to this question as it depends on the various characteristics of a specific property. From quaint historic homes in town, to waterfront estates with multiple dwellings, properties vary quite dramatically on our little island.
To attempt to answer the casual inquirer, we have responded to the question by using the median and average single family home costs in Nantucket. This figure does not take into account covenant homes or other properties that fall under affordable housing designations.
Example of a median home value sale in 2024:
35 Pleasant Street sold for $3.735M in September 2024
Example of an average home value sale in 2024:
1 Hedgebury Lane sold for $4.86M in June 2024
The dramatic difference in these two values can be attributed to the wide range of properties on the island. It also is attributed to the fact that the median figure captures the “middle” of all transactions, while the average can be highly influenced by the highest and lowest transaction in our market – a range of $400,000 to $42 million.
Highest and Lowest Transactions in 2024
The least expensive home sale in 2024 was a three bedroom, two bath home in Madaket for $600,000, an area that is highly subject to erosion. The most expensive home sale in 2024 was the $26 million sale of 5 Grant Avenue, a seven bedroom home in the highly coveted Cliff area overlooking the North Shore.
Highest Transaction in 2024:
5 Grant Avenue sold for $26M in January 2024
Lowest Transaction in 2024:
6 Sheep Pond Road sold in February for $600,000
At Fisher Real Estate, we believe there is a property for everyone. So whether you’re looking to find a small condo to visit on the weekends, or a more substantial summer home, give our team a call so we can help find the right fit for you.