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.
Again, I remind you, I am not a clairvoyant yet there is a clear picture of the Martha’s Vineyard housing market emerging as we move through the summer months. Sales are continuing at a very brisk pace and as we move toward the fall, at least the number of new listings this week are even (at 21) with homes coming to market.
There were a handful of sales that for one reason or another were several years on the market. Sometimes there are offer contingencies that need to be resolved or they are new homes that came to market long before their completion date. After eliminating those properties from the equation, the astounding average days on market is 28 down from an average a year ago of 125 using the same considerations.
I have always had a policy of not pushing clients too aggressively to make an offer once they have decided on a particular home. Somehow even if you feel comfortable waiting to “sleep on it,” please do not do it. As a real estate agent I am not necessarily believed so why look foolish pushing. Please know, that policy is over. If I see a property that is perfect for you and I believe you are ready to buy, I will advise in strong terms: Do not wait for even a day.
You may think it is safe to wait on apparently over-priced homes that have been on the market for a year or two. Even those properties get snapped up when so many people are ready, willing, and able to buy. The stars must align to make even that hard-to-sell property receive multiple offers the same day. So, remembering again that I cannot see the future, I am willing to make a wager (very small) these homes will be the first to sell.
Every Vineyarder’s favorite street and my personal favorite Vineyard area has a new listing. The home at 31 Music Street was originally built in 1817 for the department of the treasury as the Lighthouse Keepers house in West Chop. It was moved to its current location in West Tisbury in 1856. The house underwent significant upgrades in 2014, including the addition of air conditioning. The house still could use some updating and addition of your personal tastes. Of course, you get a walk to Alley’s, Field Gallery, 7A for the world famous Liz Lemon sandwich, library, and the town hall.
The new construction at 10 Major’s Cove is a striking, classic colonial design with exceptional curb appeal, sited beautifully on approximately 3/4-acre lot in a very desirable area of Edgartown. The home exudes casual elegance with its open floor plan and wide oak flooring. When you want to leave the central air conditioning you can walk to association boardwalk, water access, boat launch and tennis. The property is steps to the bike path for easy access to three down-Island towns and a short drive to some of the Island’s most beautiful ocean beaches.
The East Chop home at 31 New York Avenue is a true example of New England’s classic shingle-style architecture. This 1920’s craftsman-style home offers the charm and sophistication of its time with impeccably preserved wainscoting, a traditional foyer, and high ceilings throughout the entire first floor. The kitchen has top of the line appliances and concrete countertops after a home renovation. The property includes a one-bedroom guest house and it’s equally charming! Only a short walk to East Chop beach, harbor and downtown shops when you tire of the signature front porch which overlooks thoughtfully planned perennial gardens.
Every time I pass Morning Glory Farm on my drive to Edgartown, I have a sense of calm overlooking bucolic Sweetened Water Farm. Pastures that go almost as far as the eye can see and horses whiling away the day. The 2.6 acres at 26 Louis Field Road currently has a 900 square foot luxury cottage with air conditioning, fireplace, and a separate home office in a finished basement. If your family consists of a couple or single wanting an up-Island feel with Edgartown a short walk away, this is the property for you. When the time is right, you can build a main house of up to five bedrooms. Furnishings are available so you can just write a check and move in now.
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