Quidnet is located at the eastern end of the island between the villages of Siasconset and Wauwinet.  Quidnet was originally a fishing hamlet of low modest houses and sits high above the ocean with access as well to Sesachacha Pond.  The pond is opened up to the ocean each year to help circulation and to keep it from becoming stagnant.  The ocean beach faces dues east with no land mass between Quidnet and Portugal.  There is not much public parking so the beaches tend not to be too crowded.  Quidnet is literally at the end of island and the village itself feels much as it has for the past 100 years.  More recent development has occurred between the Polpis Road and Quidnet village.  For many years there were very few properties that ever came on the market in Quidnet as they were handed down from generation to generation.

There were only 4 sales in Quidnet in the past 12 months.  Because we know Quidnet very well, Atlantic East Nantucket Real Estate brokered 3 of the sales and was consulted on the 4th one.  The average selling price was $2,829.750 and the median was $2,762,500.  The average days on the market was 629 days, considerably longer than the market average due primarily to one listing that was for sale for nearly 5 years.

The least expensive sale in Quidnet was the sale of 57 Quidnet Road, a modest one story cottage that sold for $1,300,000. The highest price paid for a property in Quidnet in the past 12 months was $4,500,000 for 66 Quidnet Road, an historic former life-saving station located on 4 acres of direct oceanfront that had a conservation restriction limiting future building.

At this time there are only 3 properties listed for sale in Quidnet:  2 vacant parcels of land and one house, none of which are in the village or on the ocean.  The average list price is $3,811,333 and the average days on the market is 506, considerably longer than the market average. The least expensive Quidnet listing is 7 Brier Patch Road, a 1.01 acre lot off of the Quidnet Road with no water view listed for $940,000.  The most expensive listing in Quidnet is 5 Beacon Lane, a 1.97 pond front property with a 3 bedroom house and garage, for sale for approximately one year. Please contact your Atlantic East Nantucket Real Estate broker for more information about Quidnet or any other areas on island.

2011 AV and MD Price Home and Land Nantucket

A house on .46 of an acre at 87 Cliff Road sold to S. MacGregor Read, Jr., Trustee of the S. MacGregor Read, Jr. 2012 Revocable Trust, of San Francisco, Calif. from Oak Hill Investments, LLC of Mattapoisett, Mass. for $4,251,000. The property is assessed at $1,632,300. The Land Bank fee is $85,020.

A house on .25 of an acre at 59 Quidnet Road sold to Wendy Lipp of Pound Ridge, N.Y. from Brit W. McCullogh of Skedsmokorset, Norway for $2,425,000. The property is assessed at $1,638,600. The Land Bank fee is $48,500.

A house .23 of an acre at 30 Wanoma Way sold to Michael and Ann Rosenblatt of Newton, Mass. from Dorothy S. Fryer and Frank S. Fryer, Trustees, of Fronterac, Mo. for $2,278,560. The property is assessed at $2,616,300. The Land Bank fee is $45,571.20.

A house on 3.2 acres at 57 Wauwinet Road sold to Vaios Theodorakas, Trustee of 57 Wauwinet Road Nominee Trust, of Framingham, Mass. from Deutsche Bank, Trustee, of Coppelli, Texas for $1,998,500. The property is assessed at $3,119,300. The Land Bank fee is $39,970.

A house on 1.8 acres at 88 Madaket Road sold to Nichole L. Marks and Jason A. Olbres of Nantucket, Mass. from Margaret G. Ginn, Trustee of the Ginn Family Nominee Trust, of Nantucket, Mass. for $1,540,300. The property is assessed at $1,897,600. The Land Bank fee is $30,806.

A house on .54 of an acre at 289/291 Madaket Road sold to Mubayi, LLC of Nantucket, Mass. from John C. Egenberg of Penhook, Va. for $785,000. The property is assessed at $824,200. The Land Bank fee is $15,700.

A house on .11 of an acre at 96 Goldfinch Drive sold to Jonathan Kelley of Boston, Mass. from Jonathan Stone and Patricia Stone of Braintree, Mass. for $600,000. The property is assessed at $647,400. The Land Bank fee is $12,000.

A vacant lot on 1.5 acres at Rear of Plainfield Road sold to Langtry Investments, LLC of Chevy Chase, Md. from Kenneth C. Coffin, Inc. of Nantucket, Mass. for $1,100,000. The property is assessed at $950,400. The Land Bank fee is $22,000.

A house on .10 of an acre at 5 Warren St. sold to Stuart M. Duty and Mary A. Duty of Greenwich, Conn. from Barbara R. McKee of Greenwich, Conn. for $835,000. The property is assessed at $1,235,500. The Land Bank fee is $16,500.

Read On…

Madaket is located at the western end of the island and has a variety of neighborhoods with distinctive characteristics.  There is Old Madaket – generally considered to be to the right side of Madaket Road near the end.  Homes in this area tend to be modest in size and lower to the ground.  There is the Tristram’s Landing area which is made up of some single family homes and larger townhouse-style structures that are attached.  Then there is Sheep Pond, a vast open plain with large lot zoning, lots of conservation land and a beautiful surf beach.  Smith’s Point is the area “over the bridge” that is dotted with more modest beach houses.  There is a bike path from Town to Madaket and shuttle service on the NRTA.  Madaket offers great sunsets, access to a surf beach, fishing and a quiter and simpler way of life.

In the past 12 months there have been 12 sales in Madaket.  The average selling price was $1,044,868 and the median was $762,500.  The average days on the market was 189 days, lower than the market average.

The least expensive sale in Madaket was the sale of 50 Arkansas Avenue, a townhouse that sold at foreclosure for $143,500.  The townhouses are selling between this and the low $300,000 range. The highest price paid for a property in Madaket in the past 12 months was $4,265,000 for 14 Tennessee Avenue, a 1.19 acre waterfront property in good condition with a four bedroom house and a dock located directly on Hither Creek.

At this time there are 19 properties listed for sale in Madaket with an average list price of $1,249,316 and median asking price of $995,000.  The average days on the market is 305 days, slightly longer than the market average. The least expensive Madaket listing is $324,500 for 78 Arkansas Avenue, a three level townhouse at Tristram’s Landing, for sale for about one year.  The most expensive listing in Madaket is 8 F Street, listed at $3,285,000, a fully renovated main house and cottage with great views of Hither Creek and Tuckernuck located on a 1.02 acre lot.  8 F Street has been listed for about 200 days. Please contact your Atlantic East Nantucket Real Estate broker for more information about Fisher’s Landing or any other areas on island.

February 10, 2012

Following a public hearing on January 18th, the Board of Selectmen approved sewer rate increases. The average annual bill is expected to increase 20-25%. The new rates will be effective May 1, 2012. For at least the past two years, the prospect of sewer rate increases has been discussed by the Board during the development of the annual sewer enterprise fund budget. The FY 2013 sewer budget requires a rate increase without any new projects. Rate increases have been mitigated by the use of sewer retained earnings (fund balance) for several years but that is not sustainable, especially with new projects coming up that need to be started, including a downtown sewer rehabilitation project known as “Phase IIB”; and, an update to the Comprehensive Wastewater Management Plan.

A GEM TO RESTORE

Charming two bedroom, two bath antique cape located in the Historic District on an oversized lot.  Desirable location abutting protected Land Bank land with walking paths through the Lily Pond area.  Expansion potential with the proper approvals. 

$1,200,000.

Listing Agents:  Ken Beaugrand & Curtis Barnes

A building on 1.2 acres at 77 Easton St. sold to Nantucket Hotel Holdings, LLC of Wayland, Mass. from 77 Easton Street, LLC of Portsmouth, N.H. for $2,825,000. The property is assessed at $6,606,500. The Land Bank fee is $56,500.

A house on .11 of an acre at 10 Pine St. sold to Backonack, LLC of Boston, Mass. from Douglass Bermingham of Bedford Hills, N.Y. for $2,338,000. The property is assessed at $2,762,500. The Land Bank fee is $46,760.

A house on 1.05 acres at 64 Sankaty Road sold to Kelley Sullivan, Trustee of 64 Sankaty Road Realty Trust, of Scituate, Mass. sold to John M. Foster and June H. Foster a/k/a June E. Foster of Norwalk, Conn. for $2,300,000. The property is assessed at $2,184,800. The Land Bank fee is $46,000.

A house on .15 of an acre at 36 Vestal St. sold to Judith A. Duetsch and Jason A. Maroney of Asheville, N.C. from Lawrence G. Goode and Kelly Hanley Goode of Concord, Mass. for $1,040,000. The property is assessed at $961,100. The Land Bank fee is $20,800.

A house on .45 of an acre at 2 L St. sold to Kraig M. Siracuse of Alexander, Va. from Mason M. Tabor, Jr. and Cynthia K. Tabor of Westwood, Mass. for $720,000. The property is assessed at $675,600. The Land Bank fee is $14,400.

Over time the Nantucket real estate market tends to follow the Dow Jones.  With the Dow gaining 15% last year and ending 2011 where it began, Nantucket real estate is likely poised to follow.  Down Jones vs. Nantucket Market