watch nowAs sea levels rise and storms intensify, coastal real estate is seeing flooding and erosion like never before. From Dana Point, California, to Long Island, New York and Nantucket, Massachusetts, some of the nation's priciest coastal real estate is in an increasingly precarious position due to climate change. Various risk models have shown myriad projections for falling real estate values, but the effects of climate change are already hitting the market — and at a faster pace than most expected. A Nantucket home listed last summer for just over $2 million sold early this year for just $600,000. "There have been several," said Shelly Lockwood, a real estate agent on Nantucket.

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Persons: Dana, Shelly Lockwood, Lockwood, that's, it's, Kay Tyler, he's, Chris Farley, Farley, Diana Olick, Olick Organizations: National Oceanic, Atmospheric Administration, Nantucket, Boston Globe, First, CNBC Locations: Dana Point , California, Long, , New York, Nantucket , Massachusetts, Nantucket, Montauk, Gulf Coasts, United States, Lockwood