Martha’s Vineyard in Massachusetts is well-known for its high-profile home sales, attracting presidents, business magnates, and celebrities. Notable residents include Barack and Michelle Obama, who purchased an $11.75 million residence in 2019. Former first lady Jacqueline Kennedy Onassis once owned a 430-acre property that was sold in 2021 for $37 million. Tea Lane Associates, a real estate firm founded in 1967 by pioneering women, represents a mix of luxury homes across the island’s six towns and has recently become a member of Forbes Global Properties.
Co-owners Abby Rabinovitz and Leslie D. Pearlson of Tea Lane Associates are the nieces of Eleanor D. Pearlson, one of the firm’s founders known for her fiery personality. Eleanor and her partner Julie Green Sturges were trailblazers in the male-dominated real estate industry, taking risks and overcoming challenges to establish their business on Martha’s Vineyard. Abby credits her aunt and Julie as role models who taught her the importance of perseverance and generosity in the business.
Martha’s Vineyard offers a diverse range of attractions, from bracing salt air to steamed lobster and blueberry pie. The island’s natural beauty includes iconic lighthouses, historic towns, and quaint harbors. The topography of the island varies, with dune landscapes in Aquinnah, rolling hills in Chilmark, and picturesque ponds scattered throughout. The architecture on the island is eclectic, ranging from mid-century designs to Greek revival style homes in Edgartown once owned by whaling captains.
The real estate market on Martha’s Vineyard has seen a slowdown in sales volume in recent years, but prices have increased due to high demand and limited inventory. The average price of homes on the island rose by 6% from 2022 to 2023, making it a seller’s market. Buyers come from across the U.S. and around the world, with many looking for second homes to enjoy the island’s unique lifestyle. Tea Lane Associates caters to a diverse clientele, helping buyers find their perfect luxury property on the Vineyard.
Two standout listings from Tea Lane Associates include a five-bedroom craftsman/contemporary farmhouse style home in Chilmark listed for $9.25 million, and a five-bedroom home with a guesthouse overlooking Menemsha pond listed for $9.95 million. These properties offer breathtaking views and unique features, showcasing the luxury lifestyle available on Martha’s Vineyard. The firm’s long-standing presence and deep connection to the island have contributed to its success in the competitive real estate market.
As Tea Lane Associates approaches 60 years of selling homes on Martha’s Vineyard, their history and dedicated team have set them apart in the industry. The authenticity and passion for the island shared by the firm’s agents and brokers resonate with clients, creating a unique and personalized experience. With a focus on listening to clients’ needs and understanding the intricacies of the island’s real estate market, Tea Lane Associates continues to thrive in the competitive luxury home sales business on Martha’s Vineyard.