Real Estate Confidential is a weekly chit-chat about new listings, sales, or other insider info on the Martha’s Vineyard Real Estate market, presented by Fred Roven, owner/broker of Martha’s Vineyard Buyer Agents. It appears each Friday in The Minute.
As I watched the real estate market over the past 25 years, I am still struck by an apparent wall that some buyers have erected between downtown Vineyard Haven and downtown Edgartown. I have believed, and still believe, that West Chop and Vineyard Haven Harbor hold some of the best long-term investment values on the Vineyard. Edgartown has its own mystique and still, the spread in prices might not make economic sense. I compared sales this year for properties up to three million dollars (because some extreme prices in Edgartown skew the results). The Edgartown average is close to $2 million and $1,350,000 in Vineyard Haven.
Waterfront and downtown locations are limited by geography. At some point the upward pressure affecting Edgartown prices will begin having a similar effect in Vineyard Haven. We will still see prices rising in both towns and I see Vineyard Haven prices rising at a higher rate. So do not make me wrong: Start considering Vineyard Haven as a lower-priced and better investment opportunity for Island living at its best.
There is an area in Vineyard Haven a few blocks up from the center of town where, for whatever reason, our office has the largest concentration of sales (the mode so to speak) of anywhere else on Martha’s Vineyard. Prices in this downtown area and toward West Chop start at $615,000 for a 3 BR ranch style home up to $13,500,000 for a harborfront estate with a swimming pool
In addition to listed homes, there are two newly available walk to town properties. One is brand new 2200-square-foot Cape and the other a 2500-square-foot total renovation. There are no firm prices yet and I believe the renovation will sell for less than a million, and the new construction over a million. Please give me a call if you have any interest at all so we can go over pricing and location. I expect these properties will sell before they are listed or advertised.
I really wish someone could tell me why the dramatic Greek Revival period home at 108 William Street has not sold yet. The home in its bracketed-Italianate style really needs to be seen to be appreciated. So what makes this special? Watching the sunrise and moonrise over the ocean; steps to town from a neighborhood of well-maintained, and preserved historic 19th-century homes; or the impeccable restoration? This majestic harbor view property offers in-town living at its best, sitting just one block from Owen Park’s deep-water dock, beach, bandstand, and boat moorings. I find the most interesting feature to be its history. The home, called the Benjamin Cromwell House, was built by the captain of one of the first steam-powered side-wheelers to travel the islands. This home will captivate the attention of the most discerning buyer. I would have to look more closely, and I believe it is less expensive by a million dollars or more than an Edgartown Greek Revival in similar, excellent condition.
The fabulous turn-key residence at 15 Mitchell Road presents a rare, completely finished product. The spacious home with five bathrooms has a fourth bedroom in an immaculate, private guest apartment over the detached two car garage.The improvements to the structures were all-encompassing, and some of the upgrades include all new electrical systems (everything new from wiring to fixtures, and switches), Lutron system, Sonos sound, new heating and cooling system, refinished hardwood floors, and new cedar shingle roof on both the main and guest/carriage house. For the golf enthusiast, nearby Mink Meadows’ nine hole course is close by as is a private association beach.
There are not very many opportunities to own a vintage Dutch Colonial style home on the harbor and 29 Harbor View Lane is the exception. The home features views of Vineyard Haven Harbor and is elevated above a secure bluff in West Chop with its own private sandy beach and offers unparalleled views of Vineyard Haven Harbor, East Chop, and Vineyard Sound. This unique property has private stairway to the white sandy beach and swimming dock, which was completely rebuilt in the spring of 2015. Enjoy the feeling of seclusion from your oasis within walking distance of shopping, restaurants, the ferry and all that downtown Vineyard Haven has to offer. The home has been updated over the years and retains the original charm of this delightful home.
This gracious, impeccably detailed, three-story air conditioned home at 52 Mill House Way with a guest house overlooks Vineyard Haven harbor towards the East Chop lighthouse, steps away from its own sandy beach and an easy stroll to downtown Vineyard Haven. This graceful gambrel designed house was built in 2004 and incorporates an abundance of windows, red cedar shingles, and copper gutters. Enjoy multiple outside sitting areas including a porch, a screened in porch and an outside kitchen and dining table on a sunny bluestone terrace. This luxurious home has a third floor with sweeping views, especially from the widow’s walk, Additional amenities include a full walkout basement with wet bar, an exercise room, a media room, plus a state of the art wine cellar and an elevator.
Click here for more information and other properties on Vineyard Haven Harbor.
For more Real Estate Confidentials click here.