Market Data: December 2024
Prepared by Sean Kalman, The 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 December 2024 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 Listings, December 2024 (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 Listings, December 2024 (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 Listings, December 2024 (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 The Kalman Co. 508-228-4578 sean@thekalmanco.com
Data sourced from Nantucket LINK MLS and active listings as of December 2024. All information deemed reliable but not guaranteed.