23 Morey Lane
There were 22 sales on Nantucket for the month of February 2013, down from 30 in February 2012. The decrease is due to the large number of closings (71 sales) that occurred in December 2012, largely because of the proposed changes in estate planning and tax regulations. The total dollars represented by the 22 sales was $27 million+; in 2012 it was $41 million+.
The average price of a Nantucket property is now $1,633,000, up 20.24% from one year ago. The average selling price of a Nantucket property as of the end of 2012 was just over $1,200,000.
The least expensive residential sale in February was of a condominium unit at 23A West Chester, selling for $435,000. The least expensive land sale was the sale of 11A Gray Avenue, a .39 acre vacant lot in the Mid-Island area, selling for $375,000. The most expensive sale in February was the sale of 23 Morey Lane in Sconset. The property had been listed at $8,495,000 and sold for $7,200,000. It was a grand old shingle-style home with cottage, completely renovated and on a large piece of land in the village.