Why Vineyard real estate will always hold value.

by Kerry on October 24, 2010

Vineyard jetty


There are two kinds of real estate buyers on Martha’s Vineyard; 2nd home, or vacation home buyers, and year-round islander buyers.
Either way, real estate on Martha’s Vineyard is expensive and will remain that way despite economic conditions. Even in the recession, our properties have maintained value, with an average price decrease of between 15-18% as opposed to some 35-40% in other parts of America.

Some obvious reasons for the maintenance of value in Vineyard real estate include the proportion of water-front, water-view and water-proximity homes. The fact that the land on this island is finite and well protected with conservation commissions and land bank fees. The higher than average cost of construction, labor and materials. The isolation/exclusivity factor that is attached to any and all types of Vineyard real estate.
There is also a driving force of market value that is far less tangible…emotion. Many of us came here as children or had family with homes on the Vineyard. Others are recent converts, arriving later in life to discover and experience what we all know to be Vineyard magic.
The island touches you so gently you hardly know its happening. Many find that once they leave they can’t get it out of their minds. Often we found ourselves daydreaming of Vineyard beaches, scenes, people and experiences. Often upon leaving we were already thinking about the next trip, the next swim, the next sunset.

Vineyard beach party

Beach bunnies

Those buyers that are looking for their second home, their piece of happiness, their family customs and traditions have been touched by the magic and want to pass it along to friends and family. The buyers that are looking for year round homes are convinced of the alternative version of their traditional lives, are willing to adjust and create for the opportunity to immerse themselves completely in the lifestyle that has come to represent freedom and serenity.
A catastrophe of immense and unimaginable proportions may shake the market here, but short of the Apocalypse we will not be seeing any extreme property liquidations.

follow me on twitter Follow me on twitter

Comments on this entry are closed.