Premium Properties - October 2022

Martha’s Vineyard PREMIUM PROPERTIES

Martha’s Vineyard PREMIUM PROPERTIES

A publication of the Vineyard Gazette Media Group

Publisher

Jane Seagrave

Production Director

McKinley Sanders

Editorial Nicole Fullin

Ad Production

Jared Maciel, Jane McTeigue, McKinley Sanders

Director of Sales & Marketing

Skip Finley

Sales Manager

Frederica Carpenter

Sales Executives

Carrie Blair, Garrett Burt

Business Manager

Sarah Gifford

Marketing Manager

Alessandra Hagerty

The Martha’s Vineyard Premium Properties insert is published by the Vineyard Gazette Media Group, P.O. Box 66, Edgartown, MA 02539, vineyardgazette.com, and is distrib uted free on Martha’s Vineyard. Copyright 2022. No portion of this publication may be reprinted without the express written permis sion of the publisher. Every effort has been made to confirm the accuracy of the infor mation in this publication, and the data is deemed reliable, but not guaranteed. For advertising and editorial inquiries, contact publisher@mvgazette.com.

ON THE COVER

George Katilus Photo captured a home silhouetted against a sunset at Lobsterville Beach in Aquinnah.

Buyers Face Fewer Choices, Higher Prices

High prices and low inventory continue to dominate the real estate market on Martha’s Vineyard. The average selling price of a single-family home is now $2.1 million, up 10 percent from the same time last year. At the time of this writing, there were 137 single-family homes listed for sale on LINK, the leading multiple listing service for Martha’s Vineyard.

Martha’s Vineyard Premium Properties, a free publication from the Vineyard Gazette Media Group, offers readers a glimpse at some of the spectacular properties currently being offered for sale across the Island, as well as a review of recent market trends.

Despite the low inventory, new listings come on the market weekly, ranging from cozy Camp Ground cottages to sprawling waterfront estates. If you are considering the purchase of your own Island home, contact one of the real estate professionals listed on these pages to get started. Their expertise will guide you through the process of finding your perfect home.

Follow us on Instagram @vineyardgazetterealestate for news and trends in Martha’s Vineyard real estate.

TIM JOHNSON

PROPERTY TYPES

RESIDENTIAL

Property types include single-family homes, multifamily homes, and condominiums. These comprise the majority of real estate sales.

SINGLE-FAMILY HOME

Detached residence usually occupied by just one household or family. In some towns, single-family homes may be accompanied by guest cottages and accessory buildings owned by the same person or fam ily. Single-family homes do not include short-term or large rental accommodations, such as hotels and inns or condominiums.

MULTI-FAMILY HOME

Defined differently in each of the six Island towns, multi-family homes typically include a main residence, usually occupied by the owner of the property, and then a separate living space (such as a guest house or in-law apartment) for another family

CONDOMINIUM

Building or complex of buildings containing a number of individually owned apartments or houses. Condominium owners have full title to the individual apartment or house and a shared interest in communal areas and facilities, including outdoor space. Almost all condominium complexes have a Home Owners Association (HOA). The HOA fee often includes the cost of services such as water, trash, sewer, some insurance, and sometimes gas, maintenance, and landscaping.

Property that can be empty land that is zoned for commercial use, or an existing business building, con dominium, or buildings. Commercial property valuation requires taking into account the income potential and historical revenue of the property.

DOWN-ISLAND TOWNS

EDGARTOWN

Incorporated: 1671 | Population: 5,211 | Tax Rate: 3.03%

The downtown area, a protected historic district, is known for its Cape Cod, Greek revival, and federal style homes. Other neighborhoods include the open plains of Katama, the marshy scrublands around Edgartown Great Pond, and the “separated island” of Chappy. Property values are highest in the downtown and waterfront areas, and more modest in the outlying wooded subdivisions.

OAK BLUFFS

Incorporated: 1880 as Cottage City and 1907 as Oak Bluffs

Population: 5,898 | Tax Rate: 6.79% (residential), 6.75% (commercial)

The Martha’s Vineyard Camp Meeting Association remains the historic cen ter of this colorful town of gingerbread cottages and Victorian architecture. Property values are highest in the East Chop area and around Ocean Park, and more modest in the downtown village and around Lagoon Pond.

VINEYARD HAVEN

Incorporated: 1671 as Tisbury

Population: 4,629 | Tax Rate: 8.7% (residential), 8.12% (commercial)

Historic homes line the Main Street area leading out to West Chop, where sprawling summer houses overlook outer Vineyard Haven Harbor. Property values are highest in the downtown historic district and on West Chop and Lake Tashmoo, and more modest along the Edgartown-Vineyard Haven Road and off the main streets.

MEDIAN SELLING PRICE

FOR SINGLE-FAMILY HOME

YEAR

DATE

AVERAGE SELLING PRICE FOR SINGLE-FAMILY HOME

YEAR

OVER

10% INCREASE

SAME

UP-ISLAND TOWNS

WEST TISBURY

Incorporated: 1892 | Population: 3,324 | Tax Rate: 5.82%

A general store and white-steepled church still occupy the village center, and there is a commercial village in the North Tisbury section with a grocery store, pharmacy, and post office. Property values are highest on the North Shore and along Lambert’s Cove Road, and more modest along Edgar town-West Tisbury Road and off Old County Road.

CHILMARK

Incorporated: 1714 | Population: 1,315 | Tax Rate: 2.82%

Coastal sheep farms and stone walls are the signature features of this town that many say bears remarkable similarity to its namesake in England. It also includes the picturesque working fishing village of Menemsha. Perhaps not surprisingly, property values are extremely high in nearly every area of town.

AQUINNAH

Incorporated: 1870 | Population: 494 | Tax Rate: 6.27%

Located at the western tip of the Vineyard, Aquinnah offers windswept lots and, in many areas, ocean views. Property values are highest off Moshup Trail, Lobsterville, and Lighthouse Road, and lower off State Road.

charming home with a pool,

the Elizabeth Islands and Menemsha.

Cliffs beach in Aquinnah

included as part of Blacksmith Valley

well as deeded

to

a small dock where kayaks and a sunfish can be stored. Boating, swimming, fishing, and bird watching

outside

Point Water View, Chilmark

a great opportunity to own in Spring Point with views overlooking association conservation land out to the Vineyard Sound, Elizabeth Islands, and the Aquinnah Lighthouse. This home is an easy stroll to a private beach on the North Shore of Chilmark. Four bedrooms, two full baths, large expansive deck, and open floor plan. Exclusively offered for $3,950,000.

offered for $6,100,000.

Hill, Oak Bluffs

home has incredible charm due to recent thoughtful renovations, including; wide plank flooring, artistic stained glass and wrought iron details. The house features a chef’s kitchen with custom cabinetry, an elegant dining room with a fireplace, and a big open living space with large windows.

offered for $2,290,000.

Red Valley Road with Views and a Pool, Chilmark

Tea

seaside 4 bedroom 2.5 bath quality custom home and detached 1 bedroom, 1 bath guest studio are sited on 5.6 pristine acres.

spectacular water views and magnificent

almost every room as well as from the stone terrace, screened porch, and primary bedroom balcony. This is a finely crafted home with many wonderful details, set amidst gardens, expansive lawn, and mature trees. Walk down a short path to 340 feet of private beach on the Vineyard Sound and swim in the calm waters. Offered for $9,650,000.

Vine

home offers privacy and magnificent views of the Vineyard Sound and the Elizabeth Islands. The well-built family home is all-glass in the back, offering endless views of the water. Walk outside to a wrap-around water view deck, step down to the heated pool and follow the path to the private beach. A unique opportunity to purchase this 8-acre property with potential for a second home. Exclusively offered for $4,495,000.

This oak post and beam home in exquisite move-in condition shares three acres with a guest cottage, three-car garage, and a three-stall barn. Both the main house and guest cottage are fully insulated, heated and cooled for comfortable year round living. The post and beam equestrian barn with concrete foundation and loft has stalls configured to be easily removed for future possibilities. Exclusively offered for $3,095,000.

Menemsha Inn Road Water View, Chilmark