Real Estate Confidential is a biweekly 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 every other Friday in The Minute.
With the pace of sales slowing a bit, there are enough new-to-market offerings to allow you a bit of time to think. Quite a broad range with prices starting at $750,000. Finally, a couple of properties providing investment opportunities, one of which is a two-family home priced at $800,000 that could be an investment property or perfect for an Island family looking for added income to offset financing costs and other monthly expenses.
The median price has been holding pretty steady all year at just below $1,500,000. The days-on-market showing average at 45 days may not paint a true picture, as most properties that were not selling for one reason or another have sold over the winter, showing longer than average days to sell. As more and more properties come on the market, I expect to see slight increases in time to sell, and hopefully not drop dramatically as happened last year.
In addition to those properties with investment potential are new homes on the water or with water views, building lots with good water access, and multiple, long-awaited, grand, East Chop homes.
I came across two descriptions this week of what buyers are looking for in a home. One was Biophilic Design, briefly described as connecting people with nature. The other was a Filipino word, maaliwalas, translated as a generous open and bright space with a good flow of light and air. Watch for examples in future columns.
36 Park Avenue in Vineyard Haven is a property new to market that has the makings of a great investment property or for an Island family. The home is set in a quiet residential neighborhood close to bus routes and the bike path on a paved town road, only a few blocks from deeded Lagoon access and Land Bank trails. The enclosed four-season breezeway provides extra living space with sliding doors (front and back) to two decks and a door to the attached two-car garage. The spacious yard leaves you plenty of room to expand.
16 Atlantic Avenue on East Chop was built in 1890 and is a classic example of traditional Victorian architecture. It has been carefully restored to summer-living condition with painted gingerbread trim and a wrap-around porch. The beautifully refinished wood floors and leaded glass windows extol the simplicity and traits of an earlier time. Stroll to town or the lighthouse, or just relax and listen to the ebb and flow of the ocean. There is plenty of room for up to seven bedrooms and even a pool.
Comparing homes that might need some TLC to the new construction at 28 Holly Bear Lane are like 2 different worlds. The home has a 30-foot by 14-foot pool and is a short stroll to the Sengy boat landing and a short bike ride into town. The home is built with an open floor plan, and three of the five bedrooms are en suite, with one on the first level and a total four and a half bathrooms. The home is air conditioned and has a large, unfinished basement with high ceilings.
For those who must be in the village center of Edgartown, 12 Norton Street is in a quiet neighborhood with proximity to the best Edgartown has to offer. The home has been meticulously maintained and is architecturally balanced, with a contemporary flair. For those dog lovers, the entire yard is fenced in with an ample dog run! As well as a cozy den, the first floor features a guest suite with a private bath. The second floor holds a large primary suite. Surrounded by substantial homes with easy access to town, this property is the perfect haven.
Click here for a list of current new to market homes for sale.
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