A property in Edgartown on Martha’s Vineyard has sold for $43 million, setting a new real estate record for both the island and Massachusetts. The estate, known as Great Point, covers 31.59 acres and includes an 8,994-square-foot home with 12 bedrooms. The property is located at 15 Forever Wild Way in Edgartown, facing the South Coast of Martha’s Vineyard and near Edgartown Great Pond. According to the Wall Street Journal, it was listed for $49 million in June before selling for $43 million. The seller was Michael Bronner, a Boston-based technology entrepreneur and investor. Bronner spent $19.125 million between 2019 and 2023 to assemble the property. The buyer has not been identified. The sale also stands out because Great Point has surpassed the previous Martha’s Vineyard record of $37.5 million, set by a Katama mansion that sold last year. It also beat the Massachusetts record of $38.1 million, set in 2023 when the Nantucket waterfront property Beams End was sold.
Great Point is located within the Herring Creek Farm area of Edgartown, where neighbouring properties are owned by high-profile people including David Letterman. The estate’s large size and location make it part of the high-value property market that has continued to attract attention on Martha’s Vineyard. The previous island record was held by a Katama mansion that sold for $37.5 million. The property was described as being inspired by 'The Great Gatsby' and was sold to Witchwood Lane Trust. It was also part of the portfolio of Vineyard architect Patrick Ahearn. Great Point’s $43 million sale has now pushed that record higher. It has also moved past the Massachusetts record held by Beams End, a waterfront property on Nantucket that sold for $38.1 million in 2023. The record sale comes as the wider Martha’s Vineyard property market is seeing fewer transactions but more money being spent on high-value homes.
A 2026 mid-year market report by Tea Lane Associates found that the number of property transactions fell by 5 per cent in the first half of the year. There were 148 transactions, compared with 155 during the same period in 2025. Despite the fall in transactions, the total dollar value of sales rose by 23 per cent, from $304 million in the first half of 2025 to $375 million in the first half of 2026. The average price of a property sale also increased by 29 per cent, rising from $1.96 million to $2.53 million. The report said this was the highest average price recorded for the first half of a year. “This is the highest average price for the first half of the year ever, blowing past the last peak of first half average price which occurred in the first half of 2023 where the average transaction price was $2.061 million,” the report said. The number of high-value sales also increased. There were 12 sales above $5 million in the first half of 2026, compared with seven during the first half of 2025. Sales above $10 million rose from one to six. Tea Lane Associates also found that properties selling for more than $3 million made up 21 per cent of all transactions in the first half of 2026. They accounted for 55 per cent of the total dollar volume. During the same period in 2025, such properties represented 17 per cent of transactions and 44 per cent of dollar volume.
Edgartown was the most active area for real estate transactions in 2025, accounting for 32 per cent of transactions and 45 per cent of the dollar volume, according to Tea Lane Associates. The growing value of luxury properties has also drawn attention because housing affordability remains a major issue on Martha’s Vineyard. The Tea Lane report was discussed with US Senator Elizabeth Warren during her visit to the island last month. Warren spoke about the challenges created by increasing wealth among billionaires and said communities would need to find creative ways to deal with the housing shortage. One example she gave was turning abandoned buildings into homes instead of relying only on building more housing. “I understand why they’d want to come here, but preserving an economy that works under those circumstances has gotten about 10 times harder,” Warren said about wealthy people coming to the island. Tom Wallace, principal broker of Wallace & Co. Sotheby’s International Realty, previously said the market was showing growing demand for family compounds. “This property reflects a movement toward a desire for not just a home, but a family compound. And it is an appetite for this kind of property that is ever increasing, and very appealing,” Wallace said in June.
