Martha's Vineyard Market Conditions 

Chilmark

Current Market Rating: 2 1 2 3 4 5 Buyer's Seller's

Current Price Trend: 4 1 2 3 4 5 Falling Rising

Chilmark has seen a significant turn around since 2009. With no sales the first quarter, a difficult comparison but with 7 sales, an average price over $1.6m a very good sign of the market returning. These new Chilmark sales helped push average prices island-wide.
Martha's Vineyard Real Estate in the first 4 months of 2010 shows some solid growth. 139 total sales including homes, land and commercial compared to 66 January through April 2009. The median price on the Vineyard has been creeping up slowly, now standing at $559,000 up from $535,000 for the same period in 2009. Meanwhile average price has grown to $985,000 as sales of higher priced homes continues to grow. The sale price compared to assessed value over 100% for the first time in 2 years. The total value of sales for this period is over double 2009. Important to note that average days on market has started a downward trend. Existing inventory has begun increasing again on Martha's Vineyard after a brief drop as homes were temporarily removed from market. With that, the days on market has gone up slightly.; the figure that seems to have the most effect on prices.
Two indices to watch are Pending Home Sales and Buyer Traffic. Both are showing an upward trend in 2010. Even the conservative S&S/Case-Shiller report shows an improving trend; For the first time since December 2006, the annual rates of change for their Composites are positive.
Although median prices have been flat for most of the year, average continues to grow as sales of higher priced homes continues to grow. Quite surprising is an increase in new housing starts.
Chilmark has consistently had the highest average prices on the island, It was nearly impossible to find listings in Chilmark under $1 million and now there are some excellent values in that price range. It's ONLY A Buyers Market If You ACTUALLY Buy!!!

ZIP Code: 02535

Approximate Location Boundaries: Waterfront on both the north and south shores

Location Characteristics: One of three towns located in the area known as "Up Island", the town of Chilmark offers some of the most breathtaking views of unspoiled land, rolling meadows, and brilliant sea. The town center is marked by a lovely church, as well as a general store featuring a spacious down-home porch where visitors and natives alike gather throughout the day to feast, chat and share the latest local tidbits.
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Edgartown

Current Market Rating: 2 1 2 3 4 5 Buyer's Seller's

Current Price Trend: 4 1 2 3 4 5 Falling Rising

Edgartown has seen a surprising growth in upper end prices pushing the median price for the town to $775,000 up almost $100,000. Martha's Vineyard Real Estate in the first 4 months of 2010 shows some solid growth. 139 total sales including homes, land and commercial compared to 66 January through April 2009. The median price on the Vineyard has been creeping up slowly, now standing at $559,000 up from $535,000 for the same period in 2009. Meanwhile average price has grown to $985,000 as sales of higher priced homes continues to grow. The sale price compared to assessed value is over 100% for the first time in 2 years. The total value of sales for this period is over double 2009. Existing inventory has begun increasing again on Martha's Vineyard after a brief drop as homes were temporarily removed from market. With that, the days on market has gone up slightly.; the figure that seems to have the most effect on prices.
Two indices to watch are Pending Home Sales and Buyer Traffic. Both are showing an upward trend in 2010. Even the conservative S&S/Case-Shiller report shows an improving trend; For the first time since December 2006, the annual rates of change for their Composites are positive.
Quite surprising is an increase in new housing starts.
Some of the highest priced in town properties are located in Edgartown and even some decent values there although those seem to sell consitently albeit slowly in any market.
Two indices to watch nationwide are Pending Home Sales and Buyer Traffic. Both are showing an upward trend in 2009.
It's ONLY A Buyers Market If You ACTUALLY Buy!!!


ZIP Code: 02539

Approximate Location Boundaries: Waterfront

Location Characteristics: The streets of Edgartown, the Island's first colonial settlement, are lined with upscale shops, art galleries, fine restaurants, and historic churches. The stately houses, many of them carefully restored sea captains' homes, are surrounded by well-manicured lawns and blossoming gardens. Some have lovely views of the Edgartown harbor. Built in 1843 at the height of the whaling industry, the famous Old Whaling Church with its six majestic columns commands Main Street and now serves primarily as a performing arts center. Directly south of Edgartown is an area known as Katama, featuring contemporary vacation homes and a three-mile public barrier beach called South Beach, with surf on one side and protected salt pond on the other.
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Martha's Vineyard

Current Market Rating: 2 1 2 3 4 5 Buyer's Seller's

Current Price Trend: 4 1 2 3 4 5 Falling Rising

Martha's Vineyard Real Estate in the first 4 months of 2010 shows some solid growth. 139 total sales including homes, land and commercial compared to 66 January through April 2009. The median price on the Vineyard has been creeping up slowly, now standing at $559,000 up from $535,000 for the same period in 2009. Meanwhile average price has grown to $985,000 as sales of higher priced homes continues to grow. The sale price compared to assessed value over 100% for the first time in 2 years. The total value of sales for this period is over double 2009. Important to note that average days on market has started a downward trend. Existing inventory has begun increasing again on Martha's Vineyard after a brief drop as homes were temporarily removed from market. With that, the days on market has gone up slightly.
Two indices to watch are Pending Home Sales and Buyer Traffic. Both are showing an upward trend in 2010. Even the conservative S&S/Case-Shiller report shows an improving trend; For the first time since December 2006, the annual rates of change for their Composites are positive.
It's ONLY A Buyers Market If You ACTUALLY Buy!!!

ZIP Codes: 02539, 02557, 02568, 02575, 02535

Approximate Location Boundaries: The island of martha's Vineyard bounded by Atlantic Ocean, Nantucket Sound, Vineyard Sound

Location Characteristics: Located just 7 miles off the Massachusetts coastline, the beautiful island of Martha's Vineyard is a world apart, offering a vacation ambience unlike any other. Explore the diversity of our six island towns, take long walks along our pristine shores, and step back in time to a more leisurely pace. Each season offers something different. Just as each season offers something different, each of the island towns are very distinct: Edgartown; Oak Bluffs; Vineyard Haven; West Tisbury; Chilmark; and Aquinnah. We invite you to come and experience all the island of Martha's Vineyard has to offer.
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Vineyard Haven

Current Market Rating: 1 1 2 3 4 5 Buyer's Seller's

Current Price Trend: 2 1 2 3 4 5 Falling Rising

Vineyard Haven is the only town on Martha's Vineyard still showing a drop in average prices. With many prices under $400,000, one of the few areas that seems efefcted by the bank foreclosure market and not many sales over $1.0m. A very encouraging sign is average days on market has dropped from 297 days the first 4 months of 2009 to 227 days in 2010. Martha's Vineyard Real Estate in the first 4 months of 2010 shows some solid growth. 139 total sales including homes, land and commercial compared to 66 January through April 2009. The median price on the Vineyard has been creeping up slowly, now standing at $559,000 up from $535,000 for the same period in 2009. Meanwhile average price has grown to $985,000 as sales of higher priced homes continues to grow. The sale price compared to assessed value over 100% for the first time in 2 years. The total value of sales for this period is over double 2009. Important to note that average days on market has started a downward trend. Existing inventory has begun increasing again on Martha's Vineyard after a brief drop as homes were temporarily removed from market. With that, the days on market has gone up slightly.; the figure that seems to have the most effect on prices.
Two indices to watch are Pending Home Sales and Buyer Traffic. Both are showing an upward trend in 2010. Even the conservative S&S/Case-Shiller report shows an improving trend; For the first time since December 2006, the annual rates of change for their Composites are positive.
Some of most reasonably priced in town properties are located in Vineyard Haven and some very decent values particularly for waterfront properties.
It's ONLY A Buyers Market If You ACTUALLY Buy!!!


ZIP Code: 02568

Approximate Location Boundaries: Bounded by Vineyard Sound on the north, West Tisbury on the west and Oak Bluffs east.

Location Characteristics: Also known as Tisbury, the town of Vineyard Haven is an active commercial center throughout the year. Home to delightful inns, large and small, it opens its welcome arms to the influx of travelers arriving by ferry to the Island. Vineyard Haven's Main Street includes a variety of eateries and an array of shops catering to the tastes of any visitor. The Vineyard Haven harbor is an active and lovely sight and was once one of the most heavily sailed ports in the world. At the top of Main Street, one can enjoy the serene passage of sailboats from Owen Park, with its charming small beach, playground equipment for the tots, and the Liberty Pole landmark.
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West Tisbury

Current Market Rating: 2 1 2 3 4 5 Buyer's Seller's

Current Price Trend: 3 1 2 3 4 5 Falling Rising

West Tisbury has made a very strong recovery the first 4 months of 2010 compared to 2009. More than twice as many sales and an increease of lose to $200,000 in average prices. Martha's Vineyard Real Estate in the first 4 months of 2010 shows some solid growth. 139 total sales including homes, land and commercial compared to 66 January through April 2009. The median price on the Vineyard has been creeping up slowly, now standing at $559,000 up from $535,000 for the same period in 2009. Meanwhile average price has grown to $985,000 as sales of higher priced homes continues to grow. The sale price compared to assessed value over 100% for the first time in 2 years. The total value of sales for this period is over double 2009. Important to note that average days on market has started a downward trend. Existing inventory has begun increasing again on Martha's Vineyard after a brief drop as homes were temporarily removed from market. With that, the days on market has gone up slightly.; the figure that seems to have the most effect on prices.
Two indices to watch are Pending Home Sales and Buyer Traffic. Both are showing an upward trend in 2010. Even the conservative S&S/Case-Shiller report shows an improving trend; For the first time since December 2006, the annual rates of change for their Composites are positive.
It's ONLY A Buyers Market If You ACTUALLY Buy!!!


ZIP Code: 02575

Approximate Location Boundaries: Bounded by other island towns with wide expanses of beach on both the North and South shores.

Location Characteristics: The region of West Tisbury is rural and unspoiled, with stone walls, farms, and vineyards. It hosts the popular Farmers' Market twice a week from mid-June to mid-October, as well as the increasingly popular Agricultural Fair every August. West Tisbury also boasts some of the Island's more unique and lovely beaches.

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