January 30, 2023


Delighting home maniacs

Sponsored: Real Estate Confidential: Martha’s Vineyard Newly Listed Homes for Sale

Sponsored: Real Estate Confidential: Martha’s Vineyard Newly Listed Homes for Sale

Real Estate Confidential is a bi-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 every other Friday in The Minute.

Homes and building lots continue selling at a brisk pace, and watching for the just-right new listings takes center stage for many home buyers. Anything that is priced well is selling quickly, and “priced well” of course needs to be followed with “in this market.” If a home is not selling quickly, it is overpriced for the market, whatever the reason might be. It could be location, condition of the home, or as simple as too much furniture. Continue to watch homes sitting on the market more than the current average of 129 days and those with recent price reductions. 

As we approach the fall market, we hopefully will see many new listings. If this week is any indication, offerings are at prices to create interest and sell quickly. Many sellers who want to take advantage of the current high activity in resort areas around the country are listing homes, but not yet enough to satisfy the increasing need. If they look at where and at what price homes are selling, they will have a clear indication on how to price theirs to sell over the next four months.

A good place to start for sellers might be to look at homes reduced in price this week. The averages tell the story: Their average days on the market is 225, and their ratio over assessed value sits at 140{2bcf6c72702b5c79c6d60e2b201b92505312452d06f0e1ed088ab13b8bc14c0a} — well over the average of homes that have sold this week. If any of these new listings are above those averages, I am encouraging offers at where we think the price should or could be for it to sell quickly. Buyers might wait for a price point we may never see again and sellers can sit with their home not selling for the foreseeable future. 

Of course, there are those homes that are out of reach for many buyers and sit waiting for just that right buyer. For those homes and those buyers, reflecting on what a slice of paradise is worth for you and your family for generations to come becomes an important part of price decisions. If you have been waiting for your dream, now could be your time.

Whether for year-round living for a small family or to take the worry away from vacation home ownership, 4 Quail Run, located in beautiful Sengekontacket — this week’s lowest priced residence — is an excellent opportunity. Membership in the Sengy community includes a boat ramp, giving you access to the pond and Nantucket Sound. (Be sure to duck as you paddle under “Small Bridge.”) In addition, the community offers tennis, while your condo membership offers maintenance of common areas including the common decks, walkways, landscaping, parking, hazard insurance, and snow removal. This unit has had many updates, making it move-in ready.

Next on the list is 14 Bold Meadow Lane, a classic Cape-style home in one of the Island’s best family-friendly neighborhoods. The home is ready to be used as-is or to be updated, providing one of the best investment opportunities on the Island. The home is located in a quiet neighborhood and easy to get to all towns and beaches by our never ending bike trails. There is a first-floor bedroom and full bathroom, and three more upstairs bedrooms. The location is conveniently located close to Edgartown, South Beach, and a short bike ride to Morning Glory Farm for your morning coffee or some activity on the many miles of trails.

So, your dream has been to live and work on Martha’s Vineyard. 65 Main Street is a fantastic opportunity to own one of Martha’s Vineyard’s iconic business locations. This charming in-town Victorian home with retail space and outbuildings has many possibilities for a home-based business. The property has a latticed garage framed by gardens that provides an excellent opportunity for a home office or business while you convert the back to an elegant period home. All of this and a short stroll to fill all your shopping needs, whether away from town toward Cronig’s Market or towards town for year-round shopping, restaurants, and entertainment.

Normally I wouldn’t mention a building lot — not sure why. Until one like 86 Gosnolds Way came along, they usually were not very exciting. At a 170-foot elevation and its location surrounded by Menemsha Hills Reservation, your home will have privacy combined with spectacular North Shore water views. Included with your property is membership in a private beach just minutes away. Construction is ready to begin; driveway and retaining walls are in, magnificent stonewalls in place, well installed, lot perked for a minimum of six bedrooms, and, in case you forgot already, wide water views with their accompanying spectacular sunsets over the Elizabeth Islands.

Click here for a list of this week’s new home listings.

For more Real Estate Confidentials, click here.