GPP 2025 Annual Report

2025 N A N T U C K E T R E A L E S TAT E A N N U A L R E P O R T

1

ANNUAL REPORT 2025

CONTENTS 1.

HALFWAY THROUGH THE DECADE

6.

TRANSACTIONS VS. DOLLAR VOLUME

11. STEADY THROUGH THE SHIFT: VACATION RENTAL MARKET

2.

2025 SALES

7.

3.

YEAR IN REVIEW

OBSERVATIONS ON NANTUCKET’S MID-ISLAND: A CHANGING MARKET

12. WHAT TO KNOW IN THE NANTUCKET REAL ESTATE WORLD

4.

MEDIAN SALE PRICE BY AREA

8.

GPP QUICK READS

13. NANTUCKET BY THE NUMBERS

5.

A RELATIONSHIP COMPANY IN A DATA-DRIVEN LOCAL MARKET

9.

WHAT WE SUPPORT

10. HOME SALES BY AREA

O U R OF F I CE S

2

1 NO RTH BEA CH ST R EET N ANTUCKET, M A 02554 5 08.228.2266

ANNUAL REPORT 2025

6 MAIN S TR EET SIASCON S ET, MA 0 2 5 6 4 508.257. 6 3 3 5

G R EAT P O I N T P R O P ERTIE S.COM

ABOUT US

NANTUCKET. It’s not a

destination on a map. It’s a state of mind.

Great Point Properties is one of the largest real estate firms on Nantucket, consistently representing one-third of the real estate market. But what sets us apart is so much more than size. Guided by strong leadership, we operate as a seamless team with an incredible depth of knowledge, deep roots in the community, and a level of accountability and personal service second to none.

We have a proven track record of success that spans more than two decades. In fact, most of our principals’ business is referral only, which speaks to the level of attention we deliver. Yet we do not rest on our laurels.

Whether it is a sale or a rental, we have exceptional follow-through. And our team will work tirelessly to ensure your satisfaction.

OUR HISTORY

Great Point Properties was founded in 2002 by brokers Greg Mckechnie and Bill Liddle. After six highly successful years in business, in 2008 they joined forces with Edward Sanford of Sanford Real Estate under the Great Point Properties name. Together, they set out to create an elevated experience in Nantucket real estate.

In 2013, GPP purchased Sconset Real Estate, the only firm focused solely on the island’s unique east end.

The firm offers unparalleled knowledge of this distinct market, supplemented by the services of Great Point Properties staff.

Today, Great Point Properties is one of the most successful real estate firms on the island. Each member of our staff truly believes that we are only as good as our last transaction. So we work extremely hard to earn and keep our clients’ trust. We would say that our team members go above and beyond, but the truth is, they are just doing their jobs the only way they know how.

In our 23rd year, Great Point Properties has grown to 29 agents and 6 full-time administrators.

3 ANNUAL REPORT 2025

HALFWAY THROUGH THE DECADE:

GROWTH, PERSPECTIVE, AND WHAT COMES NEXT Wrapping up 2025 marks the halfway point of the decade - hard to believe how quickly the time has gone by and how much has changed. The market entered 2020 with a median single-family home price of $1,820,000. By the end of 2025, that figure had risen to $3,325,000, nearly doubling over five years. That pace of appreciation is only slightly behind the S&P 500’s performance over the same period.

Throughout the first half of the decade, Great Point Properties successfully navigated shifting market conditions, representing well over $1 billion in closed transactions. Maintaining approximately 30% of the island’s market share among thirty-nine offices is a direct result of our deep local knowledge and our commitment to delivering exceptional service to our clients.

As we close out 2025, we do so with gratitude and optimism for the year ahead. Looking toward 2026, there are unlikely to be many surprises. Nantucket will almost certainly remain the most expensive home market in the Commonwealth. Inventory, especially new construction, is expected to remain tight, and additional regulations are likely.

Great Point Properties’ focus in the new year remains the same: ensuring our clients receive the thoughtful guidance and personal attention they deserve.

- GPP Principals Bill Liddle & Greg Mckechnie

4 ANNUAL REPORT 2025

2025 MARKET SNAPSHOT

$1.75 BILLION ANNUAL SALES VOLUME

28%

30%

19.5%

2025 TOTAL TRANSACTION VOLUME - GPP SHARE

2025 TOTAL DOLLAR VOLUME - GPP SHARE

2025 NANTUCKET RENTAL MARKET - GPP SHARE

Compared to 2024, 2025 transaction volume was higher, 406 vs. 316 prior.

Dollar volume had a very strong year, topping $1.75B islandwide. We represented one-third of the market.

Based on the Short-Term Rental Tax collected by the Town of Nantucket, GPP represented 19.5% of the rental revenue raised in 2025.

$2,500,000,000 $2,000,000,000 $1,500,000,000 $1,000,000,000 $500,000,000 2020

2021

ANNUAL TRANSACTION VOLUME CHART

800 700 600 500 400 300 200 100 0

*Market data provided by GPP Broker Ethan Ulmer

2022

2020

2023

2021

2022

2024

2023

2025

2024

2025

5 ANNUAL REPORT 2025

2025 ISLAND SALES: $1.75 BILLION ON 406 TRANSACTIONS HOME SALES: $ 1 . 5 5 B ON 3 2 9 TRA NS A CTI ONS

$

4.7M 128

$

37.5M $3.3M

AVERAGE SALE PRICE

AVERAGE DAYS ON MARKET

HIGHEST SALE PRICE

MEDIAN SALES PRICE

COMPARED TO 2024: $4.4M

COMPARED TO 2024: 100

COMPARED TO 2024: $26M

COMPARED TO 2024: $3.4M

LAND SALES: $ 1 2 5 M ON 5 4 TRA NS A CTI ONS

$

2.3M 141

$

9.37M $1.6M

AVERAGE SALE PRICE

AVERAGE DAYS ON MARKET

HIGHEST SALE PRICE

MEDIAN SALES PRICE

COMPARED TO 2024: $2.8M

COMPARED TO 2024: 132

COMPARED TO 2024: $12M

COMPARED TO 2024: $2.1M

NANTUCKE T HOME S A L E DATA AV E RAGE INVENTORY

AVER AG E D AY S O N MAR K ET

Average Inventory

350

250

300

200

250

150

200 150

100

100

50

50

2020

2021

2022

2023

2024

0

2025

2021

2022

2023

2024

2025

250 200

250 200

150

150

100

100

50

50

ANNUAL REPORT 2025

2025

2024

2023

2022

2025

2024

be r

em

be r

De c

N

O

ov em

ob er

r

Se

2022

ct

m be

t

2023

pt e

ul

Se

Au

gu s

st pt em A b epri r l O ct obM er a N y ov em beJ De run ce e m be Jr

ar y FeJ buune ra ry Ju M ly Au ar gu ch

JaM nauy

ch

y

ar

2 02 5

ar

2 02 4

M

2 02 3

ar y

2 02 2

nu

2 02 1

Fe bu r

2 02 0

6

y

0

0 Ja

98 97 96 95 94 93 92 91 90 89

2020

AVAI LAB LE H O ME I N VEN T O RY B Y MONTH

AV E RAGE S ALES PR IC E TO A SKIN G PRIC E

Ap ril

0

A FEW OF GPP’S RECENT SALES 2025 GPP SALES: $475 MILLION ON 94 TRANSACTIONS

37 STARBUCK ROAD, MADAKET

7 PLEASANT STREET, TOWN

86 POCOMO ROAD, POCOMO

Sold $2,000,000

Sold $12,300,000

Sold $26,500,000

72 BAXTER ROAD, SCONSET

11 MILK STREET, TOWN

1 WHEROWHERO LANE, SURFSIDE

Sold $4,050,000

Sold $3,825,000

Sold $2,300,000

196 HUMMOCK POND ROAD, CISCO

13 CROWS NEST WAY, WAUWINET

17 GOLDFINCH DRIVE, NAUSHOP

Sold $8,575,000

Sold $5,000,000

Sold $2,595,000

GPP AVERAGE HOME SALE PRICE:

GPP MEDIAN HOME SALE PRICE:

$5,054,398

$3,575,000

7% HIGHER THAN TH E ISL A N D - W ID E AV E RA G E

7 % H I G H ER T H AN T H E I S L AN D -WI D E AV E R AGE 7 ANNUAL REPORT 2025

YEAR IN

REVIEW MOMENTUM CONTINUED IN 2025 2025 proved to be another impressive year for Nantucket real estate, marked by resilient demand and strong performance amid a dynamic economic landscape. With interest rates dropping throughout the year and equity markets continuing to hit all-time highs, buyer confidence remained robust. These favorable conditions, combined with Nantucket’s enduring appeal as a vacation home destination, drove continued activity and positioned the island’s market as a standout in an otherwise softening national real estate environment.

Compared to 2024, the 2025 transaction volume was higher, at 403 versus 319 in the prior year, representing a 26% year-over-year increase. When we compare the 2025 numbers to the previous three-year average, we find that transaction volume increased by 9%. 2025 showed an encouraging bounce-back in total transaction volume after a few lackluster years. This performance can largely be attributed to an uptick in sales of homes under $4 million, which rose 20% compared to the prior year. These transactions typically involve interest-rate-sensitive buyers, who had been sidelined during the period of elevated rates. The Federal Reserve’s rate cuts through 2025 brought these buyers back to the table, driving meaningful growth in this segment.

ALL TRANSACTIONS TRANSACTIONS

2020

2021

2022

2023

2024

2025

25 v 24

20-24 AVG

H O US E S

544

566

345

256

278

329

18%

398

25 v AVG -17%

LA ND

87

139

123

36

33

54

64%

84

-35%

C O MME R C I A L

17

45

14

15

8

20

150%

20

1%

TOTAL

648

750

482

307

319

403

26%

501

-20% 25 v AVG

DOLLAR VOLUME (M)

2020

2021

2022

2023

2024

2025

25 v 24

20-24 AVG

HOUSES

$1,698

$1,877

$1,408

$1,030

$1,239

$1,550.3

25%

$1,450

7%

LA ND

$124

$228

$197

$91

$94

$125.6 $72.6

33%

273%

$147

-15%

$1,748.5

29%

$1,678

4%

C O MME R C I A L

$47

$227

$31

$80

$19

TOTAL

$1,869

$2,332

$1,636

$1,201

$1,353

$81

-10%

In addition to increased transaction volume, dollar volume followed suit. Total dollar volume had a strong year, topping $1.7 billion. This puts 2025 as the third-highest year on record by dollar volume, trailing only 2020 and 2021 exceptional years driven by an unprecedented surge in demand during the COVID-19 pandemic. Year over year, we experienced a 29% increase in total dollar volume with houses, land, and commercial sales all outpacing last year.

We closed the year with $1.55 billion in house dollar volume, representing a 25% increase over the prior year. 2025 saw an increase in dollar volume through most market segments; however, the $10 million+ market bolstered this dollar volume increase.

This data captures the market shifts seen on the island over the past few years. Nantucket’s popularity has strained inventory, increased average sales prices, and generated higher annual dollar volume in the process.

INVENTORY VS. AVERAGE SALES PRICE INVENTORY AVERAGE SALES PRICE

250

$5,000,000

200

$4,000,000

150

$3,000,000

100

$2,000,000

50

$1,000,000

0 8 ANNUAL REPORT 2025

2020 2021 2022 2023 2024 2025

MARKET PERSPECTIVE The Nantucket real estate market delivered strong performance across most segments in 2025, with particular strength in a select few that played an outsized role in driving this year’s overall success. The $10 million+ sales market continues to thrive. This year, we saw 29 transactions close for over $10 million, which makes 2025 the largest year for $10 million+ transactions ever. This segment was responsible for $457 million in dollar volume and 29% of the total home dollar volume for the year. On average, over the last five years, this segment generally accounted for 16% of total house sale dollar volume. This is a statistically significant increase and shows both strong price appreciation and a new kind of buyer uninfluenced by interest rates and other potential macroeconomic headwinds.

We witnessed a 120% increase in the $15-$20 million market, increasing from 4 to 9 transactions this year.

While these are small numbers, this shows how our market is shifting. On the other hand, the under $4 million market also heated up. As mentioned above, we saw 202 transactions close under $4 million, compared to 162 in 2024. This represents a 20% increase over the prior year. In total, the under $4 million segment was responsible for 61% of total home sales this year.

HOME SALES BY PRICE POINT

400 350 300 250 200 150 100 50 0

2020 2021 2022 2023 2024 2025

$1M - $3M

$3M - $5M

$5M - $8M

$8M - $10M

$10M+

THE ROAD AHEAD Looking ahead to 2026, Great Point Properties anticipates a continuation of the current market: limited inventory paired with steady buyer demand. We expect property values to remain stable and resilient. As we move into the new year, our eyes are focused on inflation and unemployment rates. Policymakers will need to carefully balance these indicators alongside interest rates. Absent any major macroeconomic disruptions, 2026 should be another outstanding year for Nantucket’s real estate market.

PRICE IMPROVEMENTS

AVERAGE VS. MEDIAN SALES PRICE

350

$5,000,000

300

$4,000,000

250

$3,000,000

200

$2,000,000

150 100

$1,000,000

50

$-

0

2020

2021

2022

2023

2024

2025

*Market data and analysis provided by GPP Broker Ethan Ulmer

2020

2021 Average

2022

2023

2024

2025

Median

9 ANNUAL REPORT 2025

2025 MEDIAN SALES PRICE BY AREA

TUCKERNUCK (ONE SALE)

$1.2M DIONIS/EEL POINT

$10.8M CLIFF

$6.8M MADAKET

$1.9M CISCO/HUMMOCK POND

$4M

10 ANNUAL REPORT 2025

WAUWINET

$5.8M BRANT POINT

$3.9M

QUIDNET

$3.3M SHIMMO/SQUAM

$10.3M

TOWN

$3.5M MID-ISLAND

$1.6M

POLPIS

$8.5M

MONOMOY

$4.2M

SCONSET

NAUSHOP NASHAQUISSET

$2.3M

$3.1M

$2.2M SANDPIPER

MIACOMET

$2.7M

SURFSIDE

$3.9M

$2.2M

TOM NEVERS

$2.3M

11 ANNUAL REPORT 2025

A RELATIONSHIP COMPANY IN A DATA-DRIVEN LOCAL MARKET

I have lived full-time on Nantucket since 1998. I am an

KEY MARKET INSIGHTS

islander, though I recognize I will never be a “Native.” My

Greenwich Dominance: Greenwich remains a significant pillar

children were both born on the Cape and arrived on these

of our business, accounting for 7.6% of our total leases in 2025.

shores within 72 hours of birth. Natives? Still, no. On this island, if you were not born on these shores, you never carry

The “Mass-Three” Powerhouse: The trio of Hingham,

that venerated status. But Nantucket is my home. When Bill

Wellesley, and Needham continues to be a driving force. The

and I opened the doors of Great Point Properties in 2002,

proximity of these Boston suburbs creates a natural, enduring

we were focused on building a company based exclusively

draw to the island, with Massachusetts standing as our #1

on our local knowledge. After decades in the industry on

feeder state at over 20%.

this tiny 16-by-4-mile island, the insularity of Nantucket is more evident than ever. Yet, within these shores lies a highly nuanced real estate market that requires more than just a digital algorithm to navigate.

UNDERSTANDING THE 2025 MARKET We make it our business to know where our clients are coming from. While others examine individual sales to identify owners, those transactions are often buried in real

National: While the Northeast remains our core, the 2025 data shows growing footprints in California (4.9%) and Pennsylvania (4.4%).

International Reach: International leases only make up 1.6% of our total lease volume. And considering our northern cousin, Canada, represents 70% of those leases, the international exposure remains quite low.

estate trusts. A few years ago, a firm tracked annual sales but

REAL ESTATE IS A RELATIONSHIP BUSINESS

failed to account for the fact that a significant percentage of

It is not to say there’s a possibility a tenant or buyer will come

buyers used local attorneys as their trust contacts. Had they

from further afield. We were once associated with a marketing

dug deeper, they would have realized that over 30% of those

platform that had us in the lobbies of a London art house, but

sales were attributed to a single local law office address.

when we were asked to advertise in Equine Times in Dubai,

To get a clearer picture of our reach, we analyzed the zip codes of all leases executed in 2025.

we realized that this International Marketing Company did not truly understand our local market. We know most clients come to the island with a reference in hand, and we strive

TOP FEEDER STATES

to be that person by being the best conduit of information

MASSACHUSETTS: 20.3%

this market better than any firm located off this little sandbar

available to all our clients. Bill and I determined we know

NEW YORK: 16.4%

we call home. We know who our buyers are because we are

CONNECTICUT: 13.9%

here, we are entrenched in the community, and we know the

CALIFORNIA: 4.9%

players.

PENNSYLVANIA: 4.4%

A large national firm relatively recently arrived on the island, pitching itself as a “technology company” but they have not

TOP 10 CITIES

seen great success. Real estate on Nantucket is not about

GREENWICH, CT 7.6%

DARIEN, CT 2.1%

software; it is about understanding the community and being

MANHATTAN, NY 7.3%

RYE, NY 1.6%

an essential resource to your clients.

BOSTON, MA 2.7%

CHEVY CHASE, MD 1.4%

WELLESLEY, MA 2.6%

PALM BEACH, FL 1.3%

HINGHAM, MA 2.2%

NEEDHAM, MA 1%

Great Point Properties is not a technology company; we are a relationship company. We are a conduit for information. We know Nantucket because it is our home.

- GPP Principal Greg Mckechnie

12 ANNUAL REPORT 2025

& THE HIGHEST SALE IN MA IN 2025

HIGHEST CLIFF SALE

HIGHEST TOWN SALE

3 SHERBURNE WAY | $37,750,000

15 PLEASANT STREET | $15,450,000

HIGHEST SCONSET SALE

HIGHEST POCOMO SALE

1 OCEAN AVENUE | $18,000,000

86 POCOMO ROAD | $26,500,000

HIGHEST BRANT POINT SALE

HIGHEST TOM NEVERS SALE

47 HULBERT AVENUE | $15,000,000

39 CHUCK HOLLOW ROAD | $7,250,000 13 ANNUAL REPORT 2025

LEADING

THE HIGH END The 2025 Nantucket real estate market exhibited a clear barbell dynamic. Transaction activity was concentrated at lower price points, with approximately 71% of all sales occurring below $5 million.

Notably, the $15 million+ segment generated the highest aggregate volume of any price category, underscoring the continued influence of luxury transactions on overall market performance. Despite representing fewer than 9% of total transactions, sales above $10 million accounted for nearly 30% of total dollar volume.

14 ANNUAL REPORT 2025

HOME TRANSACTIONS VS.

DOLLAR VOLUME TRANSACTIONS

141 92 54 13 UP TO $3M

$3M-$5M

$5M-$8M

$8M-$10M

16 $10M-$15M

13 $15M+

$115M

$194M $263M

$279M $351M

$347M

DOLLAR VOLUME 15 ANNUAL REPORT 2025

OBSERVATIONS ON NANTUCKET’S MID-ISLAND:

A CHANGING MARKET The Nantucket real estate market has been appreciating island-wide since​before the pandemic. W ​ orth​a closer look is the single-family home market in the Mid-Island​area. As the name suggests, this is a broad, centrally located area that developed into year-round neighborhoods s​ tarting around the early 1970s. The landscape was dotted with newer, easier-to-maintain Cape-style and ranch homes, typically on parcels of at least half an acre. Beginning in the late 1980s, as Town water and Town sewer were extended to these areas, family-owned parcels were subdivided, increasing overall density. Despite increased development, Mid-Island retained its status as a solidly year-round area.

“In 2019, the year before the COVID pandemic, the island-wide Nantucket market was buzzing, with dollar volume exceeding $1 billion. The market was fueled by low interest rates of 3.6%-4% and a healthy economy. In this market, Mid-Island remained relatively attainable. The median single-family home price was $972,000. There were 28 single-family home sales ranging from $560,000 to $2,165,000, with an average of $1,123,000.”

The market continued its uphill climb, and on February 19, 2020, the S&P hit an all-time high. Rates were low, and a sense of prosperity gave buyers confidence. It was soon after when COVID-19 broke out. Circuit breakers were triggered three days in March. And there was a single thirteen-percent loss in the S&P. It was during this period that the world was in a deep state of fear and despair. Soon, the US government acted by implementing historic monetary and fiscal stimulus to keep the economy from collapsing during the pandemic. The result? Thirty-year mortgage interest rates fell below 3%. Remote work became the norm. And with fear and loss still gripping the country, the phrase “you only live once,” affectionately known as YOLO, became the anthem for many. Fear quickly turned to opportunity. These were the perfect conditions for real estate in aspirational markets like Nantucket to experience hyper-demand.

As 2025 comes to a close, the island-wide Nantucket market is still humming along, with total dollar volume over $1.75 billion dollars. And Mid-Island has changed since 2019. In a market with 6.5%-7% interest rates, the median single-family home price in the Mid-Island area is $2,200,000. There were 21 single-family home sales ranging from $1,150,000 to $4,795,000, with an average price of $2,495,000.

In these six years, home prices in the Mid-Island have more than doubled. To exacerbate affordability, today’s interest rates make borrowing about 36% more expensive than the historic low rates consumers enjoyed from 2020 to 2022. Although there is an upbeat outlook that interest rates will decline in 2026, Mid-Island values have changed so markedly that rates, even in the 5% range, will not alter the simple fact that Mid-Island is no longer the year-round neighborhood it once was. Additional factors, including very high construction costs and land scarcity, will help sustain high values.

Was the change in the market landscape entirely due to COVID-19? Interestingly, if we look at the Mid-Island single-family home market in 2017, another billion-dollar year island-wide, the median single-family home price was $745,000. There were a total of 26 sales ranging from $530,000-$1,600,000 with an average of $822,000. From 2017 to 2019, values in the Mid-Island grew by over 18% - well above the island’s wage growth. Looking in the rearview mirror, it was clear that Mid-Island would experience tremendous growth during the low-interest-rate period, both during and after the pandemic.

Looking ahead. There are three homes for sale in the Mid-Island, ranging from $2,250,000 to $5,295,000. This is no longer an attainable market for the vast majority of the year-round population. Existing and new homes are being gentrified and sold to seasonal families, while employers are purchasing some of the housing to house employees. The housing needs for the next generation will present challenges for the island’s planners. To attract a stable, year-round community to the island, we need the next Mid-Island.

- GPP Principal Bill Liddle 16 | ANNUAL REPORT 2025

GPP

QUICK READS THE HIGH-END MARKET

AN UPDATE FROM OUR SCONSET OFFICE

By Sam Parsons

By Sarah Maneikis

High-end transactions continued to gain

Sconset had an active and memorable 2025 season. On the real

momentum in 2025, with 13 properties

estate front, Sconset recorded 45 transactions. The highest home

selling for more than $15 million and 29 for

sale was 1 Ocean Avenue for $18,000,000, and the total Sconset

more than $10 million. Great Point Properties

dollar volume for the year was $185,786,250, representing 10% of

represented four sales north of $15 million,

the island’s sales. Beyond real estate, there was quite a bit going

and six transactions each exceeding $10

on on the east end of the island, from hosting the filming of Elin

million. In total, Great Point Properties

Hilderbrand’s The Five-Star Weekend to celebrating the 100th

handled more than 25% of Nantucket’s

anniversary of the Sconset Water Department and the arrival of

top-tier sales, a notable achievement among

a historic shipwreck fragment on Sconset Beach. Community

the island’s more than 39 real estate offices.

landmarks were well utilized, including repairs to the iconic footbridge, record pedestrian traffic along the Bluff Walk, the return of Sunday brunch at the Sconset Café, and an extended fall season at the Sconset Market. Thank you for an incredible year, and we look forward to seeing you in 2026 at Great Point Properties’ Sconset office in Post Office Square!

COMMITMENT TO CONSERVATION

By Edona Jakaj Nantucket’s conservation efforts began in 1963 with the founding of the Nantucket Conservation Foundation (NCF), which manages over 9,010 acres across 218+ properties. In 1984, the Nantucket Land Bank was established, using 2% of property purchase prices to acquire land for public benefit, and generated over $34 million in 2025. Today, it owns 3,475 acres and protects an additional 503 acres through conservation restrictions. Six key organizations have contributed to preserving Nantucket, which now totals approximately 17,780 acres of protected land, or 55% of the island: •

Nantucket Conservation Foundation: 9,010+ acres

•

Nantucket Land Bank: 3,978+ acres (3,475 owned, 503 restricted)

•

The Trustees of Reservations: 1,117 acres, mainly Coskata-Coatue Wildlife Refuge

•

Mass Audubon: 900 acres, including Sesachacha Heathlands and Lost Farm

•

Linda Loring Nature Foundation (LLNF): 275 acres, focused on environmental education and research

•

Nantucket Land and Water Council (NLWC): Protected over 2,500 acres since 1974, mostly via conservation restrictions later managed by NCF and Land Bank

A notable 2025 development: The Land Bank helped acquire a commercial building now used to process deer meat, which is distributed by Nourish Nantucket to address food insecurity, a shift from their traditional land-focused efforts.

Thanks to decades of foresight from organizations like NCF and the Land Bank, Nantucket’s well-known 1990s bumper sticker still rings true: It’s nicer on Nantucket.

17 ANNUAL REPORT 2025

NANTUCKET ORGANIZATIONS

WE SUPPORT ETHAN ULMER, NANTUCKET C O N S E R V AT I O N F O U N D AT I O N

I am proud to support the Nantucket Conservation Foundation and serve on their Associates Board and the Education & Community Engagement Committee. Helping protect our island’s open spaces is so important, and NCF does a great job preserving Nantucket while creating trails and outdoor spaces that everyone can use.

NCF 2025 SUMMER GALA

C A R Y T U R N E R , C A P E & I S L A N D S A M A R I TA N S

I have been on the board of Cape and Islands Samaritans for over four years, and this non-profit organization saves lives by providing support for those in trouble through their volunteer-based crisis lines. My most recent experience as the primary caregiver for my mother introduced me to a group of angels in this island community who care for the elderly. After supporting an organization that helps those in need at no cost, it was comforting to be the recipient of unconditional and professional support during a very difficult time. The community of Nantucket takes care of its own like none other!

G R E G M C K E C H N I E , L I N D A L O R I N G N AT U R E F O U N D AT I O N , NANTUCKET STUDENT LACROSSE & NANTUCKET ISLAND SAFE HARBOR FOR ANIMALS

It was another great year serving on the LLNF board. I am always inspired by how this 275-acre nature sanctuary and its dedicated staff help our community learn about and connect with Nantucket’s unique landscape.

I continue to enjoy being part of the Nantucket Student Lacrosse board. I truly believe that putting a lacrosse stick in our children’s hands will help make these young people not just better athletes, but better humans, while participating in a healthy and fun sport.

I am also excited to have joined the board of NiSHA. Anyone who knows me, knows I like animals, possibly more than people. And helping this incredible organization as they build their new facility, all the while continuing to protect the well-being of animals, is a privilege.

GREG, PICTURED WITH HIS FAMILY & LUCIE, A NISHA RESCUE

BILL LIDDLE, NANTUCKET COMMUNITY SAILING, SHERBURNE COMMONS & N A N T U C K E T H I S T O R I C A L A S S O C I AT I O N

I love all these organizations! Each of these organizations contributes to making Nantucket a better community. Nantucket Community Sailing provides access to a robust sailing program to all age groups and abilities. Sherburne Commons offers a high quality of life for independent seniors on the island. The Nantucket Historical Association is home to an extraordinary archive of historic properties, collections, and documents, and within this organization, the story of the island’s rich history is told.

18 ANNUAL REPORT 2025

NANTUCKET ORGANIZATIONS

WE SUPPORT L I Z F I N L AY, PA S C O N

I am a care volunteer with Palliative and Supportive Care of Nantucket (PASCON), a Nantucket Cottage Hospital program offering specialized care for adults facing serious illness.

All services are provided free of charge.

Each visit is shaped by the unique needs of the patient and family, offering comfort, connection, and support when it matters most.

DELIVERING HOLIDAY GREENS TO RESIDENTS

A L LY U L M E R , N A N T U C K E T I S L A N D SAFE HARBOR FOR ANIMALS

After serving as a NiSHA volunteer, I was lucky enough to foster-fail a Mississippi Mutt of my own this year!

NiSHA is an incredible organization that will never turn an animal in need away, and works hard to place animals in their forever homes.

LEXY SABELHAUS, THE NANTUCKET DREAMLAND

For the past three years, I have been an active member of the Event Host Committee for the DreamBig fundraising event on Nantucket. DreamBig raises vital support for The Dreamland, a cornerstone of the island’s cultural and community life. It is so important to give back to the Nantucket community and support organizations that make the island such a special place to live.

DREAMBIG GALA

S A M PA R S O N S , FA I R W I N D S

Accessible mental health care is essential, especially on a small island. Fairwinds provides support to adults and youth on Nantucket for their mental, emotional, and physical health. They work closely with the Hospital, Police Departments, schools, and other community partners, and offer 24/7 crisis response and stabilization services year-round, anywhere on the island.

They have supported more than 1,000 families to date. Fairwinds also does a lot to give back to the community, and two of my favorite ways to support them are to attend the annual Dragonfly fundraiser at the Great Harbor Yacht Club and the Fairwinds in Bloom event at the Nantucket Shipwreck and Lifesaving Museum each summer.

19 ANNUAL REPORT 2025

HOME SALES

BY AREA 61

38

37

22

21

TOWN

MID-ISLAND

SCONSET

SURFSIDE

CLIFF

16

14

13

11

11

MADAKET

TOM NEVERS

MIACOMET

CISCO

HUMMOCK POND

10

10

10

8

8

NAUSHOP

SANDPIPER

WEST OF TOWN

BRANT POINT

DIONIS/EEL POINT

8

5

5

5

4

SOUTH OF TOWN

MONOMOY

NASHAQUISSET

POLPIS

POCOMO

3

3

3

1

1

FISHERS LANDING

MIDDLE MOORS

WAUWINET

SQUAM

QUIDNET

1

0

0

0

0

QUAISE

TUCKERNUCK

MADEQUECHAM

SHAWKEMO

SHIMMO

20 ANNUAL REPORT 2025

STEADY THROUGH THE SHIFT:

NANTUCKET VACATION RENTAL MARKET After five years of conversation, Nantucket settled the debate over short-term rentals (STRs). At a Special Town Meeting in November 2025, voters approved Article 1, a measure that makes short-term rentals legal by right across the island. It passed with strong support, 1,045 to 421, surpassing the required two-thirds majority.

This vote ended a long and sometimes contentious fight over whether to restrict STRs. It also effectively shuts down any ongoing challenges questioning their legality on Nantucket. Article 1’s approval resolved a zoning dispute that had stretched across seven Town Meetings. While the situation has been put to bed for the moment, this is unlikely to be the end of the conversation.

DID THE SHORT-TERM RENTAL DEBATE AFFECT THE MARKET? The number of leases generated at Great Point Properties has remained relatively flat compared to previous years, but the value of those leases has increased. We recorded an 11% increase in total lease dollar volume in 2025, driven by rising rental prices across the island and consumer demand for homes with more amenities.

WHAT ARE THE REQUIREMENTS FOR A HOMEOWNER TO RENT THEIR PROPERTY? The process is not nearly as intimidating as it sounds, and we are always available to guide owners through the steps. Here is the breakdown to ensure your home is properly registered in order to rent:

STEP 1:

STEP 2:

STEP 3:

Register Your Home with the State of Massachusetts

Register with the Nantucket Board of Health

Claim the 14-Day Tax Exemption

Homeowners will need a Room

If you are renting your home for

Renting for a total of 14 days or

Occupancy Certificate from the

fewer than 32 consecutive nights

less in a calendar year? Make sure

state. The application is straight-

at a time, Nantucket requires you

to register for Massachusetts’

forward and registration is done

to register with the Board of Health.

14-Day Tax Exemption to avoid

through MassTaxConnect. This pro-

The local permit costs $250 and

occupancy taxes.

vides the state with the information

must be renewed each year.

needed for a homeowner to collect the 11.7% room occupancy tax paid by the tenant. If an owner rents two or more homes, an additional Community Impact Fee of 3% is assessed to the tenant.

WHAT IS THE COMMUNITY IMPACT FEE? If you own more than one home on Nantucket and rent them separately, the Massachusetts Department of Revenue requires a 3% Community Impact Fee to be paid by the tenant for leases less than 32 nights.

21 ANNUAL REPORT 2025

WHAT TO KNOW IN THE NANTUCKET REAL ESTATE WORLD ZONING: Nantucket’s zoning bylaws were designed to manage development, preserve Nantucket’s unique character, and balance growth with conservation through 21 different zoning districts (Residential, Historic, Business, etc.) that dictate density, height, setbacks, and lot sizes. The zoning map is an intricate patchwork dictating the allowable density and use. The island’s zoning varies from industrial to protective moorlands management. Lot sizes range from 3,750 square feet to 10 acres. Along with lot size, allowable ground cover ratios and setbacks are defined uses within our zoning. Many properties were created and built before Nantucket’s zoning laws, and if they do not conform to the regulations, they are considered pre-existing, non-conforming lots of record and are grandfathered.

Individuals can apply for zoning relief by filing for a Special Permit with the Zoning Board of Appeals.

WATER: Nantucket water comes from either the Wannacomet Water Company (which manages two large wellfields and water towers) or a private well. Wannacomet Water and private wells all draw from the same aquifer, which is a large deposit of fresh water that sits on top of the denser salt water. Nantucket has plenty of water. At the center of the island, it is estimated that the aquifer is 500 feet deep, tapering as it approaches the shoreline. Our aquifer is replenished entirely by precipitation. In 1984, the EPA deemed Nantucket a sole-source aquifer, meaning that it is our only source of freshwater. Hence, the focus by organizations like the Land and Water Council to protect this precious commodity.

WASTE: While most do not like to think of wastewater beyond flushing, it is important to understand how grey water is treated on Nantucket. The ability to treat grey water can be a significant limiting factor on certain properties. More densely populated areas of the island, like Sconset Village, Nantucket Town, and Mid-Island, are largely connected to the Town’s sewer system. The sewer is pumped to a waste treatment plant on the South Shore. Less densely populated areas or outlying areas without access to Town sewer are serviced by private septic systems. While we are fortunate to have fairly sandy soil, which works well for filtering wastewater, several sensitive water protection zones require more advanced systems.

As a general rule, a more environmentally sensitive system will be required if a property is in close proximity to the Harbor, Hither Creek, or freshwater ponds.

CONSERVATION COMMISSION: The Conservation Commission, often called the ConCom, is one of Nantucket’s most powerful and stringent regulatory boards. Consisting of seven appointed members and an administrative staff that monitors and safeguards the island’s aquifer, harbor, and any wetland resource areas. A large number of island properties are subject to wetland regulations. Keep in mind that wetlands do not refer to simply wet areas but wetland resource areas, which include buffer zones, certain topography and plant materials.

As a general rule, any kind of land alteration/construction within 100’ of an identified wetland is subject to the Conservation Commission.

In 2025, ConCom revamped its regulations, making them more stringent and more complex. If there is any speculation that there may be wetland resource areas on a property where you intend to do work, it is imperative that you hire a professional.

22 ANNUAL REPORT 2025

HISTORIC DISTRICT: The Historic District Commission, commonly referred to as the HDC, is the island’s architectural review board. The board consists of five elected members with three alternate members. While there are often architects on the Commission, these individuals do not need to have a background in architecture. The HDC has purview over any alterations that are visible from a publicly traveled way, which includes the water. The public meetings are conducted weekly, and the applications can vary from a front door paint change request to the approval of a harborfront estate. Any project requiring a building permit that would involve exterior alteration would first require approval from the Historic District Commission. The HDC was established to help preserve the historic fabric of Nantucket and while it can feel challenging when you have an application before the commission, we maintain that Nantucket’s commitment to preserving our historic character has also preserved and bolstered values island-wide.

The HDC uses “Building with Nantucket in Mind” as a framework for what is considered appropriate. This informative and helpful book provides context and illustration for designs considered appropriate on Nantucket.

GENERAL: Nantucket is located 23 miles out to sea (not 30 miles). The island is tough to measure, but it is approximately 16 miles by 4 miles with 82 miles of coastline. There are nearly 30,000 acres, or 47.8 square miles, of which over 55% is under perpetual conservation. The highest point on the island is Altar Rock at an elevation of 108’. Nearly 12,500 houses are spread across the island and are powered by electricity from an undersea cable from Cape Cod. The island has one hospital and one school system, bolstered by two popular private schools serving pre-K through 8th grade. Nantucket is a town, county, and island. Locals refer to the Town of Nantucket simply as Town, and the Village of Siasconset on the far east end of the island as Sconset.

POPULATION: The population varies from around 18,600 in the winter months to upwards of 80,000 in the peak of summer.

GOVERNANCE: The island’s elected body is the Select Board, consisting of five elected volunteers. Great Point Properties’ own Dawn Hill is currently chairing the Select Board in her fourth term on the board. The island’s legislative body is an annual town meeting. These two bodies are administered by a Town Manager.

Nantucket’s Town Manager has worked for the Town since 1988, and has been Town Manager since 1995, making her one the longest standing municipal leaders in Massachusetts.

BEACH ACCESS: The island is unique, with abundant access to its beaches. Popular south shore beaches like Cisco and Surfside, to calm-water beaches along the North Shore in Dionis, or near the Jetties, all have parking and access. Though our more popular beach destinations tend to be public, many are private.

There has been a long culture of property owners sharing their beaches with the public. As guests, we are encouraged to stay away from the fragile dunes, leave only our footprints, and refrain from driving on the beach.

N AN T U C K ET B Y T H E N U MB ER S

18,600 ESTIMATED YEAR-ROUND POPULATION

148 HIGH SCHOOL GRADUATES IN 2025

1 HOSPITAL - NANTUCKET COTTAGE HOSPITAL

55% ESTIMATION OF PROTECTED OPEN LANDS

47.8 SQUARE MILES TOTAL LAND AREA ON NANTUCKET

12,500 APPROXIMATE NUMBER OF HOUSES ON NANTUCKET

$3.28 PER $1,000 2025 NANTUCKET RESIDENTIAL PROPERTY TAX RATE

$163,500 MEDIAN FAMILY INCOME

9 PLACES OF WORSHIP

3 LIGHTHOUSES

3 18-HOLE GOLF COURSES, PLUS ONE NINE-HOLE COURSE

40.8 MEDIAN AGE OF A YEAR-ROUND RESIDENT

300% APPROX INCREASE IN POPULATION FROM WINTER TO PEAK SUMMER

162 NUMBER OF BABIES BORN ON NANTUCKET IN 2025

82 MILES OF BEACH

0 TRAFFIC LIGHTS

23 MILES OFF THE COAST OF CAPE COD

$4,712,124 AVERAGE HOME PURCHASE PRICE IN 2025

TO STAY UP TO DATE ON ALL THINGS NANTUCK ET R EAL ESTATE, SUBSCR IBE TO OUR NEWSLETTER .

23 ANNUAL REPORT 2025

TEAM BILL LIDDLE GREG MCKECHNIE

CONNECT WITH US @greatpointproperties @greatpointproperties @nantucketsales @greatpointproperties @gppnantucket 24

@nantucketsales

ANNUAL REPORT 2025

LAURA BELAIR

MADISON GILBERT

EDWARD SANFORD

NICOLE BOUSQUET

D A W N H O L D G AT E

K AT I E S E H O L M

AMBER CANTELLA

EDONA JAKAJ

C A RY T U R N E R

ERIN CARSON

DENISE LABOMBARD

ETHAN ULMER

BERNIE COFFIN

MI C H E L E L I N D ST E D T

DEBBIE WILLETT

CAROL COFFIN

SUSAN LOCKE

VERONICA CHRZANOWSKI

ALEXA COLEMAN

NICHOLE MARKS

CAROLINE CURNOW

DEBBI CULBERTSON

SARAH MANEIKIS

LIZ MCCUSKER

TRACY CULLINANE

S A M PA R S O N S

CAROLINE MORRIS

L I Z F I N L AY

STUART REID

SHANE RILEY

JIM GARRELS

BOBBY SABELHAUS

A L LY U L M E R