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.
Real estate buyers and agents on Martha’s Vineyard have been watching the market extremely carefully for the last four months. So, now it is herem and the direction seems clear. Right now there are 75 single-family homes pending to close within the next two months. That is over 32% of the current inventory of 233 homes. Twenty years ago we had 800-1,000 properties for sale at any one time and last year we started the second quarter with about 350 single family homes. We have 31 new listings this week but not nearly enough to fill the demand and that demand seems to be growing almost daily.
Current homeowners: This is the moment you have been waiting for. Get your home listed for sale. As followers of this column know, as exclusive buyer agents we do not take listings but we do need homes to sell. Call your favorite listing agent today! New construction seems to be happening everywhere you look and three of the sales our office has had this year are for new construction before the homes are even finished.
So what are you going to buy? Although I feel that I can give a good opinion of value for the sale price of homes on the market, I am not a fortune teller and what is going to sell quickly is out of my understanding. I often tell anyone who will listen that there are few if any things on which I do not have an opinion so I will try a little guessing. One scenario I know for sure is a house can stay on the market for months or years and one day the stars must align because multiple offers show up on that self-same day. Check back in a few months and see how I did with the following selections.
Peaceful moments and tranquility await you at 129 Great Plains Road in West Tisbury; a charming two-bedroom cottage tucked away behind rambling stone walls and mature pines on just under three acres and priced at $779,000. The property is on a paved road to the bike path and has easy access to Lambert’s Cove Beach as well as all up-Island and down-Island towns. Membership in a neighborhood road association pool and tennis court facilities is an additional option.
Ideally located home on the edge of Edgartown Village, 137 Katama Road provides an opportunity to be part of all that is Edgartown without the crowds of downtown. The home is situated an easy stroll into town for your morning coffee and a short bike ride to South Beach. But why leave the comfort and beauty of your covered front porch overlooking a grassy lawn and garden patio? The home includes a basement family room and a two-car garage for your toys.
If your dream includes a home in West Chop but you want contemporary, the jewel at 56 Hatch Road overlooking Vineyard Haven harbor is for you. The property is a short walk to town and has an open concept design for entertaining family and guests, plus a neighborhood beach for launching your kayak or dinghy. The home is perfect for vacation or year-round living. On your tour, be sure not to miss the glass enclosed “conservatory” and the bunkroom, perfect for the younger generation. Priced at $2,795,000 — a true gem.
The home at 8 Boston Hill Road in Chilmark is priced at $2,850,000 and offers amenities of homes two and three times the price. Walking in the front door, you are greeted with light-filled cathedral ceilings and an open staircase to the second floor master bedroom en-suite with study and private sunning deck overlooking the pool. The home has water views of Menemsha Pond and is a short walk to Chilmark center and the Quitsa boat landing. If you intend to rent the property, in addition to the increased value a pool brings, a guest house or bedrooms can be added.
Click here for more information and a list of this week’s new listings.
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