There is a little known and magical waterfront neighborhood on the north shore of Martha's Vineyard called Chappaquonsett. Today there are only 10 homes in this very special area surrounded by protected woodland and beautiful water. It lies directly across Vineyard Sound from Woods Hole and the Elizabeth Islands. Chappaquonsett is an Indian name meaning "where the nets dry". Not surprising since its most eastern point is now the entrance to Lake Tashmoo which was once the site of a famous and productive herring run before fresh water Tashmoo was connected to Vineyard Sound.
An exceptional 4-acre waterfront property in Aquinnah with private beach, high-end house, guesthouse, and beautiful gardens and grounds, 3 & 5 Skippers View sold on 2/3/15 for $6,500,000. This sets a new high for real estate transactions in this remote, western-most town on Martha's Vineyard. The previous highest priced property sale was 14 Moshup Trail which sold in July 2009 for $3,600,000 and was combined with a $400,000 beach lot for a total of $4,000,000. The house at 14 Moshup was rebuilt after this purchase.
$54mm of real estate changed hands on Martha's Vineyard a couple of weeks ago including a $22mm estate on Edgartown Harbor, a $10.85mm oceanfront property in West Tisbury, a $6.5mm waterfront house and guesthouse in Aquinnah, and a $4.425mm three-parcel compound with pool in Chilmark. Tea Lane Associates handled two of these four transactions. These four sales combined with six other transactions to create an extremely impressive week of sales for the island.
Martha's Vineyard 2014 Market Review
2014 marks the third consecutive year at this same level of activity and investment. This stability confirms this market’s recovery from the recession in 2008 which produced a gradual downturn followed by erratic results in the following years. While some primary home markets in the U.S. have seen heated activity over the past two years, Martha's Vineyard, a vacation destination, has had a different experience but does continue to maintain the activity levels of 2012 and 2013 and shows modest growth in 2014. Last year we predicted a “slow but steady recovery now consolidated over two years.” 2014 performance keeps us on this track for the third year running.
The real estate market on the island showed healthy activity in the first three quarters of 2014. Total number of transactions increased 3% over the first three quarters of 2013 (340 sales in 2014 versus 330 in 2013) and total dollar volume was up 7% to $309mm (versus $289mm in 2013). The average sales price rose 4% to $909,000 (from $876,000 in 2013).
Here is a great opportunity in West Tisbury! This 5-bedroom, 3-bath home within walking distance of Lambert’s Cove Beach is priced at $799,000. Built in 1999, this home offers an open floor plan and 2500 square feet of living space plus a full basement, garage and art studio. Located at the end of a quiet road. This is a truly a great value for a buyer.
It was a beautiful day to celebrate the summer solstice in Aquinnah at the Light House. Young and old, human and canine, up-islanders and down-islanders gathered to enjoy the longest day of the year and remind ourselves of how important it is to help SAVE THE GAY HEAD LIGHTHOUSE.
It was a beautiful evening under the tents at the Dr. Daniel Fisher House. Many guests were happy to visit with friends and neighbors for the first time this year. Catered by V. Jaime Hamlin the delectable hors d’oeuvres were served seamlessly by her professional team while the shellfish station offering Katama oysters and little necks was conveniently situated for everyone to help themselves.
The range of items offered in the silent auction kept everyone browsing while the exciting packages for the live auction were the subject of much conversation and curiosity. Everyone had to take time to admire the painting called “A Chilmark Pond” by Ray Ellis, which captured Keith’s Farm in Chilmark beautifully. It was particularly poignant as the beloved artist passed away so recently and was a dedicated supporter of the Preservation Trust.
As dinner began, Sally Rorer, Trust President, spoke about the recent projects of the Trust while a video showcased the related subjects such as the restoration of the Union Chapel in Oak Bluffs and the interior of the Old Whaling Church. Margo Datz recently completed the trompe l’oeil mural and was applauded heartily by many in attendance. Chris Scott, Executive Director, shared how generous Ray Ellis had been over the years, raising over one million dollars for the Trust over twenty- five years.
The Moore property at 3 Oxcart Road in Aquinnah was just listed this week for $2,350,000. It’s a 1.5 acre property beachfront on the Vineyard Sound with a year-round 3-bedroom home. This area of Gay Head has been quite active in the recent past. There have been 4 sales in this neighborhood in the past year and a half ranging from $700,000 for a simple summer camp to $2,250,000 for a beautiful waterfront two-bedroom home. There are currently 3 properties on the market on Oxcart Road. It’s a desirable area due to the classic island landscape of beach grass dunes and the excellent swimming and fishing on this stretch of coastline. All owners and renters in Aquinnah have access to Philbin Beach as well on the Atlantic side of town and Aquinnah offers two town beaches on Menemsha Pond for kayaking, paddle boarding and mooring boats. Buyers are discovering all the beach and water access in Aquinnah, and combining that with a waterfront property makes for a heavenly situation.