(Nantucket, MA) — There is something better than the Hamptons this summer, and it’s Nantucket, Massachusetts.
Real estate on Nantucket Island is more expensive than the Hamptons, and it’s attracting the wealthiest of Americans.
In the first three months of 2018, the average price for a single-family home on Nantucket was $2.3 million, while the Hamptons averaged in at $2.1 million.
According to Forbes.com, Hamptons real estate fell 6.6%, with 441 sales of single-family homes in the first quarter of 2018 compared to 472 in 2017. However, Nantucket sales jumped 14% from 2017 and cashed in at a whopping $63.1 million.
Nantucket kicked off the year by selling stunning homes with big price tags. These sales included a $9.25 million four-bedroom home on more than three acres, an $8.9 million six-bedroom home on one acre, and a $7.3 million three bedroom cottage on the southwestern shoreline.
It gets pricier than that! The $17.5 million sale of the home where the former senator and secretary of state, John Kerry vacationed with his wife Teresa Heinz Kerry, contributed immensely to the sales jump.
Big names aren’t rare on the island. The 105-square-mile piece of paradise has been enjoyed by Bill Gates, Jack Welch, Eric Schmidt, Katie Couric, and Mika Brzezinski.
With so much success in the first quarter, we can’t wait to see what Nantucket has in store for the rest of the year!