Westcliffe Final 2

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Comparative Market Analysis:

Westcliffe, Mount Desert, Maine

Pricing Rationale and Market Positioning:

Formulating the correct asking price is one of the most essential aspects of listing and

marketing a property. Our carefully prepared Comparative Market Analysis (CMA), identifies

relatively comparable, previously sold properties and evaluates current competition. Due to

the unique stature of Westcliffe, truly comparable properties are scarce, compelling us to

examine sales within the past ten years or more. From the outset Westcliffe stands apart

from the current competition due to its exceptional features, acreage, location, and setting.

Subject Property:

Westcliffe is 6.35 +/- acres with 968 +/- feet of shore frontage. There are two principal,

architecturally-designed structures on premise: The Main House, The Guest Cottage. All

total there is 9,275 square feet of living space at 7,291 and 1,984 respectfully. Both are yearround,

in excellent shape with distinctive classical shingle-style design and comfort. The

grounds are rustic with subtle professional landscaping in a natural environmentally

sustainable style. There are walking paths along the rocky shoreline and dock, with nearly

unlimited 180-degree views across Somes Sound from the North to the South, including

stunning views of Acadia National Park’s Eastern Mountains. With such connection to the

land, Acadia National Park, and the sea, Westcliffe is truly a remarkable property.

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R E S E A R C H .

In our research for this CMA, we examined numerous sold properties within New

England as well as on Mount Desert Island. We are highlighting several of those sold

properties to compare to Westcliffe as they are all on Mount Desert Island. The sales

price and property details of all shorefront offerings were considered. In our analysis

we compared and adjusted the properties respective location, acreage, sale date, days

on the market, and square footage relative to Westcliffe. These calculations assisted

us in determining the appropriate market range. Additional factors taken into

consideration are town zoning ordinances and any deed restrictions and covenants.

The first property

is Oversea, located at 29 Dodge Point Road, Seal Harbor, with a

Main Cottage and 2 guest cottages for a total of 5,311 +/- square feet, resting on

6.35+/- acres, and 569 +/- feet of shorefront facing the Great Harbor and outer

islands. This was listed at $9,500,000 in September of 2018 and went under contract

immediately. The property sold December 19, 2018 for $9,250,000.

The second property

is Faraway located on the Eastern Point of Greening Island, with

a Main House with 7,100+/- square feet, and 2 -bedroom guest cottages on 4.40+/-

acres and a deep-water dock on 1,500 +/- feet shorefront covering views from

Southwest Harbor to the Eastern Way to Somes Sound. This was listed at $6,500,000

in late 2019 and closed in September of 2021 at $6,625,000.

The third property

is Cow Cove located in Northeast Harbor at 79 Peabody Drive,

with 6.1+/- acres, and a deep-water dock on 1,480 +/- feet of shorefront on the east

side of Northeast Harbor. This c.1904 Classic Shingle style summer cottage has a

main house with approximately 7,128 +/- square feet with 8 bedrooms and 5 full

baths and has a guest cabin with 2 bedrooms and 1 full bath. The original asking price

in February of 2020 was $8,300,000. It sold on January 20, 2022 for $6,850,000.

The highest sale for 2022 was Wynnestay located at 125 Peabody Drive, with 1.51+/-

acres and a deep-water dock on 243+/- +feet of shorefront overlooking the Western

Way and outer islands of the Great Harbor. This modern 5-bedroom and 7-bath

cottage was built in 2006 with state-of-the-art year around systems, meticulous

details and materials on the interior, balanced with native landscaping around granite

terraces resting high above the shorefront.The property was listed at $11,600,000 in

June of 2022, and sold in September for $10,600,000.

Currently there are 10 properties in the state of Maine on the market priced

over $5,000,000 and 6 are between $8,900,000 and $11,200,000. By narrowing

the field to just Mount Desert Island, over $5,000,000, there are 2 waterfront

properties on the market, the highest being $11,200,000 (Bar Harbor) serving as

testament to the very limited market inventory of our uniquely situated and

much desired area.

Wanakiwin Links:

Wanakiwin Drone




The high-end, luxury real estate market in the country over the past few years

since the pandemic gained tremendous momentum and prices exceeded

expectations due to limited inventory as well as robust cash positions for Buyers

wanting to invest stock market earnings in real estate. The New England

shorefront market of Nantucket, Cape Cod, and Martha’s Vineyard had 20 sales

over between $8 million and $12 million since 2022. The North Shore areas had

4 sales over $5 million since 2022 with a high of $11,500,000 in Manchester

which closed in December.

It should be noted however that the buyer for Westcliffe will most likely tour

properties all along the eastern seaboard. Familiarity with competing offerings

guides us as to market outlook.

Looking back on Mount Desert Island since 2018, the overall market to date has

been strong for waterfront properties over $5 million with 8 sales over $5 million

(total volume of $69 million+/-), including 7 sales between $5 million and $10.6

million, with an average closed price of $8,643,000. Gains in the global stock

market, influences of the Pandemic and limited residential inventory coming on

the market on Mount Desert Island, were major factors for the increased price

volume, and lower number of sales in this elite category.

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M A R K E T P O S I T I O N .

Here, we have traditionally seen the market move in 18-month cycles. This market

fluctuation has been typical over the past decade and is based on current inventory, interest

and activity in the high-end market along the eastern coast and the lower market sectors

here on Mount Desert Island. This pattern may continue to evolve with global issues as we

have seen in 2022.

Upon moving forward with the listing, we also may offer a few suggestions to enhance the

property in its current state. All of these will add to a pristine presentation and a clear view of

all Westcliffe has to offer.While we have an initial portfolio of aerial photos in hand from

recent site visits, we will have additional photo and video sessions to maximize our portfolio

to best present the property over time.

After analysis of these properties, their unique characteristics, the resulting transactions and

the current state of the real estate market, we recommend a price range between $

$8,500,000 and $10,500,000. Final Price determination should be reviewed again when

closer to the launch of marketing, taking into consideration global and regional market

changes that may be critical factors to consider.

As mentioned above, there are alternate strategies for offering the property. We would

recommend that we meet to discuss all of your possible scenarios and objectives before

resting on a final plan and price. It is not always the highest asking price that yields the best

result of a sale, especially to maximize family objectives from a sale. Just as there are many

buyers with unique needs and wants, there are sellers with similar objectives, hopes and

wishes. Our experience has led us to understand these dynamics and how important it is to

work with the seller to determine the best course of action at the present time.

Once these goals are clearly defined, it is critical to place Westcliffe in the strongest possible

position against existing national competition, as well as at the top of the list of properties

most likely to attract the interest of an elite buyer. Pricing the property correctly is but one

critical step in successful marketing. A strong brokerage team must execute a robust

marketing plan to take advantage of a correctly priced offering. We will then put into action

our Marketing Plan and vast company resources to set the stage to reach a global market,

while also focusing on former clients, family, friends, and social venues to deliver the right

buyer and reach a successful sale.

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Now with more than 16 years of experience in real estate, Lili brings strong business expertise,

dedicated professionalism, and great enthusiasm for our local area to bear in all her realty


Lili grew up in Bryn Mawr, PA and graduated from Harvard College in 1985 with a BS in

Psychology. Her family has summered at their family cottage “Inchcape” in Northeast Harbor

since the early 1900s, and has been dedicated members of the community for more than a

century. She followed-up a successful corporate career with the U.S. Olympic Committee in

Colorado and The Narragansett Group in New York by moving to Maine full-time in 2001.

Currently Lili is on board of:

Maine Community Foundation

Friends of Acadia, (Chairman 2007-2011)

Harbor Club Board of Governors

MDI Search and Rescue

Lili Pew joined the Knowles real estate team in 2007 and has

consistently been a top producer in the Mount Desert Island area

while serving a wide range of national and international clientele. In

recent years, she has closed a record number of sales for both

Buyers and Sellers. Lili consistently goes above and beyond for her

clients both during and after a sale.

B a c k g r o u n d

For Acadia’s 2016 Centennial, she served on the Acadia Centennial Steering Committee,

Centennial Carriage Drive and Rockefeller Carriage Road Celebration, and co-chaired Major

Gifts for FOA Second Century Campaign that raised $25 million.

She is leading economic development and broadband initiatives in the towns of Mount Desert,

Ellsworth, and The Cranberry Isles as part of her continuing efforts to secure a strong and

vibrant future for current and future generations in our communities.

Lili has also been a board member of:

College of the Atlantic

Summer Residents Association Board (SRA) (President 2017-2019)

Ellsworth Business Development Corporation

The New York Women’s Foundation

Secretary of the Interior’s Steering Committee America’s Voice for Conservation,

Recreation and Preservation

Down East YMCA

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DownEast Magazine

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Cranberry Shores Cottage $2,300,000 MLS 1498844

1 Mark Island $2,300,000 MLS 1536701


Gardencourt $2,000,000 MLS 1468372

Fjord Home $1,900,000 MLS 1304262

Eagles Aerie $572,500 MLS 1308449

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Mount Desert Island

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1 Summit Road, Northeast Harbor, Maine 04662

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New Rental! New Rental! New Rental!

Mount Desert



Windiana- Sun filled lakeside cottage in a

private setting. Southerly views of the ANP

mountains. Semi-detached Guest Cottage

with space for two additional guests. A

path leads to a deck at the water’s edge.

New Rentals!

Contact Our Rental Team

For Availability

207 276-3322

The Starr House- Less than a 20 minute drive

to Acadia National Park. Exquisite views of

the surrounding island and distant mountains

from every window. Spacious deck and

recently renovated kitchen.

Puffins Perch- Secluded location on the

“Quite side” of Mount Desert Island. Open

floor plan layout and comfortable

furnishings capable of accommodating up to

10 guests with deeded access to the shore.

Kate Chaplin Blakeslee Bell Nikki Hooper Keri Hayes Marla Jones

Rental Agent Rental Agent Rental Agent Rental Agent Rental Agent

1 Summit Road, Northeast Harbor, ME 04662

info@KnowlesCo.com I Phone: (207) 276-3322

See all of our listings at:


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42 Jordan Pond Mt Desert $580,000 Lili Pew Selling Member

17 Folkstone Drive Bar Harbor $562,500 Beth Ingebritson Selling Member

47 Point Lane Tremont $1,450,000 Hallock/Ingebritson Listing/Selling Members

14 Freeman Ridge SH $480,000 Sue Ferrante-Collier Selling Member

42 Grand View Ellsworth $345,000 Kristi Jacoby Listing Member


Distinctive Properties. Legendary Service.

Bar Harbor



Located at the end of a quiet lane, this 3-bedroom cottage offers

4 floors of living space .Property looks out onto 2+/- acres of

gardens filled with perennials. Close Bar Harbor amenities.

MLS# 1551799 Susan Ferrante-CollierAssociate Broker

(207) 266-9424

Northeast Harbor


Located in the village of Northeast Harbor this .62+/- acre lot is

close to all amenities. Public water and sewer. Surveyed.

MLS#1537012 Lili Pew Associate Broker (207)276-3322


Great Cranberry Island




Bright and sunny 2-bedroom, 1-bath home on Great Cranberry

Island. .26 +/- acres, covered porch, spacious kitchen. Subject to

very reasonable version of the CIRT covenants.

MLS#1506789 Nick Burnett Associate Broker (207) 460-5121

Seal Harbor



Exceptional shingle-style, year-round home. Property overlooks

Seal Harbor Beach. Mainesail features quality of craftsmanship

throughout. Large windows allow for bright rooms. Private deck

and hillside garden. Close to Acadia National Park trails.

MLS#1544373 Beth Ingebritson Broker (207) 266-7225

Swans Island



Mosaic of rocks. 4000' of Maine Coastline. Popplestone (large

pebble) beaches, Open ocean views. Private 106+/- acre parcel.

Road in place.

MLS#1497908 Beth Ingebritson Broker (207).266-7225

Bar Harbor



Ideal retreat set high up overlooking Frenchman's Bay. This

compact chalet style 2-bedroom, 2-bath home is moments from

the village, the head of the island and access to Acadia.

MLS#1549573 Tricia Blythe Broker (207) 664-3500




Located in a quiet neighborhood this charming, well maintained,

three-bedroom, two full bath ranch home on 1.15+/- acres

features Beautiful perennial gardens in the fronty ard and a

backyard bordered by mature trees with an open deck

MLS#1547086 Kristi Jacoby Associate Broker (207) 266-0212

West Tremont


"Cove Ledge" is perched on a grassy knoll that follows a field of

lupines to accessible deep-water shorefront. This 2-bed, 2-bath

Cape-style home on 4.5 +/- acres, with 408+/- ft. of shore

offers distant view of Placentia, Black and Gotts Islands.

MLS#1529773 Torie Hallock Associate Broker

(207) 276-3322 ext. 225

Bar Harbor




The Ovens are geological sea caves carved by the ocean.

Accessed by an impressive, gated staircase from the property, a

short stroll down leads to one of the ovens, known as Cathedral

Rock. The 1.33 +/- acres features a private fine stone beach.

MLS#1538684 Kristi Jacoby Associate Broker (207) 266-0212

Great Cranberry Island



Off a beaten path this 3-bedroom home on shores of "The

Pool",offers a deck to the water and a covered porch to the

gardens. Cranberry Shores epitomizes island living set on 5+/-

acres. A long history of artists created a studio on the shore.

MLS#1533431 Torie Hallock Associate Broker (207) 276-3322

ext. 225

Bar Harbor



3-bed, 2.5 bath recently renovated home added 500+ ft living

area. Sun room, finished basement,. heat pumps, propane

fireplace and solar. 5.8+- acres abuts conservation.

MLS#1546968 Tricia Blythe Broker (207) 276-3322 ext. 237

Bar Harbor



36+/- private acres punctuated with old growth oak trees.

Property has been soils tested and is located off a private wellconstructed

road. Protective covenants in place.

MLS#1462498 Jane McCombs-Beaman Broker

(207) 276-3322 ext. 243

Northeast Harbor



Located in a beautiful, private setting on the outskirts of Northeast

Harbor, Asticou Acres is a wonderful estate property offering a

large, shingled home with distant ocean views from the upper

floors, two barns and a lovely grounds bordering Acadia National


MLS#1538684 Mia Thompson Broker (207) 276-3322 ext. 228





Island Sky: A charming cottage perched just off Mount Desert Island in

Trenton, this home has it all. Two decks to choose from, a spacious and

comfortable living room with sweeping water views and the mountains

of Acadia in the distance.

RENTAL AGENT (207) 276-3322 ext. 239

Acadia Lodge: Offering stunning views of Somes Sound from nearly

every room, find serenity and calm on the wrap around deck or relax

below at water's edge.

RENTAL AGENT (207) 266-0212 ext. 239

Kebo Cottage: A jewel of a house that gives you plenty of space when

vacationing with friends or family, close to Bar Harbor village!

RENTAL AGENT (207)276-3322 ext. 239


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