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.
Every week lately I have been watching the number of new-to-market single-family homes and condos, holding my breath. For what it’s worth, considering the number of homes in past years, we are just two away from 100! Unfortunately, that is still not enough to stop the ever increasing prices.
April 2022, with its smaller inventory compared to April 2023, is a perfect example. Last year there were 22 single-family home closings recorded at an average price of $1,736,009 and median of $1,362,000, with 38 average days on market. This past April, closings were at 25 with an average price of $2,787,840, a median of $1,700,00, with an average 96 days on market.
This year did have a few higher-priced waterfront properties that pushed those averages a bit, and the direction is still clear. There are still some interesting values in new-to-market homes this week, with a wider range of prices than in years past. There are a few properties ideal for investment with renovation and expansion possibilities, a few walkable to down-Island towns, and some up-Island properties with their wide-open views and docks, plus resident access to North Shore and South Shore beach access in Chilmark and Aquinnah.
If there is an amenity you want, 72 Chappaquiddick Avenue will have it. This property is being offered turn-key for $3,800,000. The home has six bedrooms, five baths in the primary home, plus a two-bedroom, two-bath guest house. In addition, there is a pool house with a bathroom and kitchenette, a workout and game barn, plus a volleyball and tennis/basketball court. All of this is located on three acres of private land on Sampson Hill with distant water views. This Chappy compound has been meticulously grown and maintained over the years through architectural design, professional decorating, and professional landscaping.
The center chimney colonial at 24 Mariners Way in Edgartown is in a quiet neighborhood close to the bike path, downtown, and State Beach. You will find a tastefully landscaped yard with mature plantings, flower gardens, and lawn. The house is in move-in condition with many upgrades to the interior and the landscaping completed in 2016 and 2017, including a new heating system, renovated first-floor bath, irrigation system, and bluestone driveway. With a tie-in to the town sewer, the four bedrooms can be expanded to five.
The post-and-beam Cape house at 90 Holly Tree Lane off Main Street in West Chop offers many opportunities. I can see the home as ideal for an investment, year-round living, or a summer home with rental income when not in use. The location is ideal with easy access to Grove Street town beach, the Vineyard Haven Yacht Club, and just one mile from the myriad of shops and restaurants the village has to offer. West Chop Woods is also nearby, with hiking trails on over 83 acres of Sheriff’s Meadow land.
With the many fine waterfront properties on Martha’s Vineyard, 1 Clam Point Cove stands out as exceptional. The home has breathtaking, unobstructed pond views from an elevated location, 250+ ft. of pond frontage, 48 ft. dock with separate mooring for easy access to Menemsha Pond and Vineyard Sound, and privacy without an abutter in view. Most of the rooms in both the main house and guest house have wide pond views and, because of the elevation, the sunsets, moonrises, and stargazing are some of the most remarkable the Island has to offer. Come launch your canoe, kayak, or paddleboard from spring to fall; swim, clam, or sail from a private sandy beach off the point all summer long, and sunbathe on your private dock.
Click here for a look at all this week’s new listings.
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