Market Data: December 2024
Prepared by Sean Kalman, Kalman & Co.
Executive Summary
Understanding Nantucket's pricing landscape requires more than just looking at bedroom counts—lot size plays a critical role in home values. This guide breaks down current market pricing for 3-bedroom, 4-bedroom, and 5-bedroom homes, segmented by lot size, to help you make informed decisions.
Key Takeaway: Buyers pay a 19–27% premium for homes on lots over 1 acre, with the premium increasing as bedroom count rises.
Market Overview: 2024 Performance
Nantucket's residential market set new records in 2024:
Record Median Home Price: $3,780,000 (19% increase from 2023)
Record Average Home Price: $4,861,663 (11% increase from 2023)
Total Single/Multi-Family Sales: 242 homes
Total Sales Volume: $1.18 billion
The market remains highly competitive, with homes in the $2.5M–$6.5M range representing the largest segment of activity.
3-Bedroom Homes: Entry to Mid-Luxury
Pricing by Lot Size
Lot Size
Under 0.5 acre
Median Price $2,695,000
Price Range $1,950,000–$3,495,000
Premium vs. Small Lot Baseline
Over 1 acre
Median Price $3,200,000
Price Range $2,490,000–$4,995,000
Premium vs. Small Lot +$505,000 (19%)
What to Expect
Small Lot 3BR Homes (<0.5 acre):
Ideal for primary residences or low-maintenance vacation homes
Often located in town or established neighborhoods
Typical lot sizes: 0.04–0.46 acres
Best Value: Mid Island and South of Town locations
Larger Lot 3BR Homes (>1 acre):
More privacy and outdoor space
Common in Tom Nevers, Madequecham, and Surfside
Expansion potential for future renovations
Premium neighborhoods: Madaket, Polpis, Miacomet
Sample Active Listings (3BR)
11 Vesper Lane | 3BR/2BA | 0.11 acres | $1,950,000
9 Nobadeer Way | 3BR/2BA | 0.34 acres | $2,250,000
34 Pine Street | 3BR/4BA | 0.04 acres | $2,695,000
20 Lyons Lane | 3BR/1.5BA | 1.14 acres | $2,490,000
31 Flintlock Road | 3BR/2.5BA | 1.31 acres | $2,975,000
4-Bedroom Homes: Mid to High Luxury
Pricing by Lot Size
Lot Size
Under 0.5 acre
Median Price $4,425,000
Price Range $2,295,000–$13,475,000
Premium vs. Small Lot Baseline
Over 1 acre
Median Price $5,500,000
Price Range $2,395,000–$22,000,000
Premium vs. Small Lot +$1,075,000 (24%)
What to Expect
Small Lot 4BR Homes (<0.5 acre):
Perfect for families seeking walkability and town proximity
Strong rental income potential
Typical lot sizes: 0.03–0.47 acres
Best Value: Mid Island, South of Town, Surfside
Larger Lot 4BR Homes (>1 acre):
Privacy, outdoor amenities (pools, gardens, guest cottages)
Common in Polpis, Tom Nevers, Madaket, Dionis
Higher appreciation potential due to land scarcity
Premium neighborhoods: Polpis, Wauwinet, Hummock Pond
Sample Active Listings (4BR)
52 Pleasant Street | 4BR/2.5BA | 0.11 acres | $2,295,000
2 Goldenrod Court | 4BR/4BA | 0.11 acres | $2,499,900
37 Union Street | 4BR/4.5BA | 0.09 acres | $4,295,000
22 Sheep Pond Road | 4BR/3BA | 0.92 acres | $2,395,000
21 North Pasture Lane | 4BR/4.5BA | 0.91 acres | $6,995,000
5-Bedroom Homes: Luxury and Estate Properties
Pricing by Lot Size
Premium vs. Small Lot
Under 0.5 acre
Median Price $5,895,000
Price Range $2,495,000–$10,995,000
Lot Size Baseline
Over 1 acre
Median Price $7,500,000
Price Range $4,000,000–$12,995,000
Lot Size +$1,605,000 (27%)
What to Expect
Small Lot 5BR Homes (<0.5 acre):
Often located in-town or walkable neighborhoods
Multi-generational family homes or high-end rentals
Typical lot sizes: 0.07–0.46 acres
Best Value: Town, Mid Island, South of Town
Larger Lot 5BR Homes (>1 acre):
True estate properties with resort-style amenities
Privacy, water views, and extensive outdoor space
Common in Polpis, Surfside, Madaket, Sconset
Premium neighborhoods: Polpis, Hummock Pond, Quidnet
Sample Active Listings (5BR)
38 Hooper Farm Road | 5BR/4.5BA | 0.14 acres | $2,495,000
33 Pine Street | 5BR/4.5BA | 0.09 acres | $3,900,000
75 Fairgrounds Road | 5BR/5.5BA | 0.23 acres | $5,295,000
27 Longwood Drive | 5BR/4.5BA | 2.75 acres | $4,000,000
8 Austin Farm Drive | 5BR/5.5BA | 0.92 acres | $10,195,000
Neighborhood Pricing Trends
In-Town & Walkable Areas
Premium for location: Homes command higher prices per square foot
Smaller lots (0.03–0.15 acres) are typical
Best for: Year-round living, walkability, rental income
Mid Island (Surfside, Nobadeer, Fairgrounds)
Balanced pricing: Good value for bedroom count
Lot sizes: 0.11–0.92 acres
Best for: Families, primary residences, accessible to beaches
Outer Island (Tom Nevers, Polpis, Madaket, Sconset)
Land premium: Larger lots (1–6+ acres) drive pricing
Privacy and views: Waterfront, conservation land, open space
Best for: Privacy seekers, estate buyers, second homes
Land Premium Summary
3 Bedroom
Small Lot Median $2,695,000
Large Lot Median $3,200,000
% Increase +$505,000 +19%
4 Bedroom
Small Lot Median $4,425,000
Premium $5,500,000
% Increase +$1,075,000 +24%
5 Bedroom
Small Lot Median $5,895,000
Premium $7,500,000
% Increase +$1,605,000 +27%
Buyer Considerations
Why Lot Size Matters
Privacy: Larger lots offer distance from neighbors and quieter settings
Outdoor Space: Room for pools, gardens, guest cottages, and play areas
Zoning Flexibility: More options for additions, ADUs, or future development
Appreciation Potential: Land is finite on Nantucket—larger parcels hold value
Rental Income: Homes with outdoor amenities command higher rental rates
Common Buyer Challenges
Septic & Title 5 Compliance: Larger homes require adequate septic capacity
Zoning Restrictions: Historic District, conservation, and setback rules
Flood Insurance: Coastal properties may require additional coverage
Inspection Issues: Older homes often need roof, foundation, or moisture remediation
My Role: I quarterback every detail—from septic evaluations to zoning approvals—so you can buy with confidence.
Next Steps
Whether you're searching for a 3-bedroom starter home or a 5-bedroom estate, understanding the interplay between bedroom count and lot size is essential to making a smart investment.
Let's Talk: I'm a sixth-generation Nantucketer with deep local roots, transparent market data, and access to private opportunities you won't find online. Let's find the right home for you.
Sean Kalman Kalman & Co. 857-829-0324 sean@thekalmanco.com
Data sourced from Nantucket LINK MLS and active listings as of December 2024. All information deemed reliable but not guaranteed.