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Martha's Vineyard Market Conditions

 Martha's Vineyard Real Estate

Martha's Vineyard Real Estate Martha's Vineyard Real Estate in 2011 had moderated as summer approached after a strong first quarter. The number of single home sales dropped from 297 to 269 through September. One bright spot is DOM (days on market) has dropped in every town on the Vineyard with a combined average of 245 down from 301 through September. Possibly another indication of a change is the significant increase of pending sales both locally and across the country. Average price of a sale was down to $886,000 with the median down 5% to $565,000. Total dollars spent on real estate on Martha's Vineyard for all transactions dropped 20% to $238,540,000 through the third quarter although the totla dollar figure shows a 25% increase when comparing September 2011 to August 2011 or September 2010. Although there are seasonal changes to inventory, there are currently 540 single-family homes on the market close to our yearly high. Nationally, according to the National Association of Realtors®, Existing-home sales this year are expected to total 5.0 million, slightly higher than 2010. Similarly, little change is forecast for aggregate home prices with several indicators, including NAR's median prices, showing recent signs of stabilizationIt's ONLY A Buyers Market If You ACTUALLY Buy!!! 

Chilmark Real Estate

Chilmark Real Estate in 2011 had moderated as summer approached after a strong first quarter. The number of single home sales dropped from 16 to 10 through September. One bright spot is DOM (days on market) has dropped in every town on the Vineyard with a combined average of 99 down from 267 through September in Chilmark. Average price of a sale was down to $1,203.000 with the median down at $813,500. Although there are seasonal changes to inventory, there are currently 47 single-family homes on the market in Chilmark, about average for this time of year.

 Vineyard Haven

The number of single home sales dropped from 70 to 55 through September.One bright spot Island wide is DOM (days on market) has dropped in every town on the Vineyard with a combined average of 244 down from 301 through August. Current DOM in Vineyard Haven is 239own from 296 year to date in 2010. Average price of a sale was down to $563,000 with the median up at $438,000 showing some strength in the mid-range. Although there are seasonal changes to inventory, there are currently 117 single-family homes on the market in Vineyard Haven, about average for this time of year.

 Edgartown Real Estate

The number of single home sales dropped from 100 to 88 through September although median price of an Edgartown sale was up about 5% and average down about 5% compared to 2010. One bright spot Island wide is DOM (days on market) which has dropped in every town down 15% to 254 in Edgartown. Total dollars spent on real estate on Martha's Vineyard for all transactions dropped 20% to $238,340,000. Although there are seasonal changes to inventory, there are currently 215 single-family homes on the market in Edgartown, high for this time of year

West Tisbury Real Estate

The number of single home sales was flat at 38 through September. West Tisbury is finally showing some real estate life with DOM down to 229 from a high last year of 387. Average price is up from $891,000 to $979,000 and similar median price gain to $631,000 showing some strength in the mid-range. Although there are seasonal changes to inventory, there are currently 77 single-family homes on the market in West Tisbury, 8 under currently under contract; a good percentage for West Tisbury.