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On Martha's Vineyard, people are paying six figures for the key-without the house.

Driven by wealthy buyers seeking refuge from the crowds, prices for the island's coveted "beach keys" have skyrocketed in recent years. The keys come with deeded ownership to a slice of non-buildable beachfront, often passed down through families, though a handful sell on the open market each year.

In 2003, a key to Quansoo Beach in Chilmark could be purchased for $200,000, said Abby Rabinovitz of Tea Lane Associates. Last year, one sold for $475,000, while a key at nearby Hancock Beach fetched $650,000, property records show.

Anyone who read Belle Burden's Strangers will remember the birthday present her ex-husband bought her: a key to Black Point Beach. Following their divorce, she kept the key, which public records show cost $310,000 in 2016.

"There's more demand than supply. Prices reflect that," said Tea Lane's Alexis Holden, who has two clients who have waited for "well over a year" for the opportunity to buy a Chilmark beach key.

Before Wednesday, Bratenahl was known for its architectural grandeur, lush tree canopy and waterfront views. Now it has a new claim to fame: Travis Kelce.

The Kansas City Chiefs tight end purchased a $5.35 million historic estate there, putting the village in the national spotlight. We explored the lakefront community to learn more about its origins, housing stock and who is buying there.

Finally, we check out the most expensive college towns in America, where market demand is being driven by wealthy families buying apartments and homes for their children.

The $400,000 Keys That Get You Into Martha's Vineyard's Private Beaches

The island's coveted "beach keys" are typically kept in the family, but when they hit the open market, they command big price tags.

The Quiet Ohio Enclave Known for Prestige, Privacy and Now Travis Kelce

Bratenahl, where the Kansas City Chiefs tight end purchased a $5.35 million mansion, is home to Gilded Age properties that draw some of Cleveland's wealthiest home buyers.

Wealthy Families Are Setting Up Home Bases in America's Priciest College Towns

Traditional home buyers still dominate in Wellesley, but parents buying apartments for their kids fuel the market near New York University.

What's the Deal?

A roughly 31.5-acre waterfront estate on Martha's Vineyard has sold for $43 million-a record for the island and the state of Massachusetts, property records show.

Travis Kelce purchased a lakefront home in Ohio for $5.35 million. The Kansas City Chiefs tight end closed on the house a few months before marrying pop superstar Taylor Swift.

An oceanfront in Palm Beach County is coming on the market for $59.95 million-more than three times its purchase price in 2018.

Want to see more deals? Sign up for our Mansion Deals email alert to have the biggest and best luxury home sales and listings delivered to your inbox.

The Luxe Life

Built in 1743, this historic Maryland farm became a battlefield during the War of 1812 and played a role in helping reverse U.S. fortunes after the British burned Washington, D.C.

Bobby Flay recalls the advice Julia Child gave him while he trained to become a chef. "She had great energy and taught me never to take for granted the impact that great food has on people."

A restaurateur and real-estate developer plans to use the funds from the record sale of his Provincetown condo to fund a 28,000-square-foot mixed-use building with a restaurant, hotel and 10 condos.

House of the Week

The owner of WSJ's House of the Week in Miami discovered the Midcentury Modern home in an unlikely spot: on Facebook Marketplace.

The property was already under contract, but the original buyer turned to social media to offload the deal. Gabriela Liebert-an architect, designer, hotelier, and developer-swooped in with her firm, Home Vision DNA, to acquire the contract and execute a renovation that cost more than $3.2 million.

Your Home

Since mortgage rates are closely tied to the 10-year Treasury yield, the bond selloff is likely to deal another blow to a housing market hobbled by years of high borrowing costs.

The young rent-stabilized tenants of New York City represent a rare breed of their generation. A few of them opened their apartment doors.

U.S. home price growth rose in June as home-price trends differed throughout regions and inflation cooled.

About Us

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Kerry Barger is Mansion's senior platform editor. Say hi at Kerry.Barger@wsj.com or connect with her on LinkedIn.

Candace Taylor is the editor of Mansion. Reach her at Candace.Taylor@wsj.com.