
Nantucket, MA
SOLD - $5,200,000



The Challenge
Although the charming Cape Cod island of Nantucket and its miles of pristine sandy beaches has long been the top summer destination for discriminating North Easterners, the real estate market has suffered the same slowdown typical in other North American housing markets. So when the owner of a 7,500 SF home set on a large lot in the posh Shimmo area of the island needed a bigger home to accommodate his growing family, he found no buyers via the conventional real estate process. After two years listed with a national luxury real estate brokerage, the family was eager to try a more unconventional approach to selling their home.
The Solution
With its beautiful views of the Nantucket Harbor and Nantucket Sound and a long list of amenities, this home needed a targeted marketing campaign to build awareness of its many features and to appeal to the most viable demographic: high net worth individuals living in the Northeast. Although it had been on the market for years, Grand Estates sold the house at absolute auction at 92% of the asking price within 60 days of launching the marketing campaign. In attendance were 23 pre-qualified bidders, and, prior to auction day, the property attracted 317 inquiries and 126 previews. According to local real estate professionals, the sale was the highest per square foot for the Shimmo area of Nantucket.
Although the charming Cape Cod island of Nantucket and its miles of pristine sandy beaches has long been the top summer destination for discriminating North Easterners, the real estate market has suffered the same slowdown typical in other North American housing markets. So when the owner of a 7,500 SF home set on a large lot in the posh Shimmo area of the island needed a bigger home to accommodate his growing family, he found no buyers via the conventional real estate process. After two years listed with a national luxury real estate brokerage, the family was eager to try a more unconventional approach to selling their home.
The Solution
With its beautiful views of the Nantucket Harbor and Nantucket Sound and a long list of amenities, this home needed a targeted marketing campaign to build awareness of its many features and to appeal to the most viable demographic: high net worth individuals living in the Northeast. Although it had been on the market for years, Grand Estates sold the house at absolute auction at 92% of the asking price within 60 days of launching the marketing campaign. In attendance were 23 pre-qualified bidders, and, prior to auction day, the property attracted 317 inquiries and 126 previews. According to local real estate professionals, the sale was the highest per square foot for the Shimmo area of Nantucket.

























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