Real Estate Confidential: Move into a brand new home


Real Estate Confidential is a biweekly chit-chat about new listings, sales, or other insider information 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.

As you travel around the Island these days, you can see new construction everywhere you look. Nothing compares to the look and feel of a new home with the quality construction you expect. As I review prices over the years and compare the current market, I do not see a way a three-bedroom, two-bath home can be built here for under $1,350,000. Even at the lower end of the price range, you will find quality finishes, and in many cases of late, with air-conditioning or mini-splits at a minimum. You are never far from a beach or boat landing, and at the upper end of the price curve, you can find large waterfront homes that include swimming pools.

With the median price of recent land sales at $725,000, and the median price of building lots currently for sale at $800,000, the price of a new home, with ever increasing materials cost, is only going in one direction. We may see some moderation of prices for existing homes as inventory increases and mortgage rates increase. If you like the idea of making design changes to fit your lifestyle, and walking into that fresh, new home smell which can last for years to come, this may just be a perfect time to buy brand-new construction. You can buy now, and most homes under construction can be ready for summer 2023.

I’ve noticed when I write descriptions of properties for sale, I most consider location on the Island and the amenities available. As examples, how close to beaches, hiking trails, bike paths, and most important, bakeries and breakfast spots. With the new reality of prices for new construction, you can assume you are getting top-of-the-line quality from the many reputable architects and builders on the Island. In many cases, builders are moving to luxury homes with a pool, pool house, private beach, home office, Viking, Subzero, Wolf, Bosch, views, sunsets, first-floor bedrooms, and the list goes on, so no point in repeating them over and over.

Come summer of 2023, you can move into 14 Mill Hill Road with a pool and spa and a short stroll to Edgartown village. The open floor plan encompasses a Great Room with a gourmet kitchen, and a dining and lounge area with a wall of sliders that lead to a bluestone terrace with a pergola, while overlooking the 16 x 34 ft., custom, heated, saltwater gunite pool, a 7 x 7 ft., custom built-in spa, and a professionally landscaped backyard. The second floor offers an open family/game room area, and the lower level offers a finished space with a half bath. And, there is plenty of room for a guest house or expansion if you need more space.

You will find 5 bedrooms, 5 bathrooms, and a 30-foot heated swimming pool at 28 Holly Bear Lane priced at $3,189,000. This home is on a quiet Edgartown street within a short distance of Sengekontacket Pond, the landing on the Boulevard, and only 2 miles to downtown Edgartown. There is a ground-floor suite with direct exterior access to the swimming pool and fenced-in yard. My first thought is to just let the dog out the door whenever. Plus an unfinished, 1,400 sq. ft. basement with 9 ft.-high ceilings. It also has a 30 x 14 ft. heated pool surrounded by a bluestone patio. The home includes a full basement, a garage, and it’s finished off with professional landscaping.

The contemporary farmhouse-style home at 22 Herring Creek Road, in a perfect Katama location, features a first-floor en-suite bedroom, and a living room area with a gas fireplace. The finished lower level offers 1,000 sq. ft. of space with half bath! The plot has been designed with a future pool and detached garage in mind. With an easy bike to South Beach or town, the property is located close to the Katama General Store, 1 mile from Main Street in Edgartown village, and 2 miles to South Beach.

The chic coastal retreat at 24 Crocker Drive is in a near-perfect location for your Island retreat. This architect-designed home and superlative property is located equidistant to Edgartown village and South Beach. This home features classic New England architecture with a fresh, modern vibe — including a coastal-inspired interior with shiplap paneling, driftwood, and bleached wood accents, plus chic modern hardware and lighting fixtures throughout. The home includes an in-home office, den/TV area, wet bar area off the pool entrance, two laundry areas, and an unfinished basement level with 9-ft. ceilings. There is an approved permit to add a 16 x 32 ft., gunite, saltwater pool with $100,000 credit in purchase price.

Click here for a list of other new Vineyard homes ready for 2023.

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