Martha’s Vineyard Real Estate Market News 3rd Quarter Update

The real estate market on the island showed healthy activity in the first three quarters of 2014. Total number of transactions increased 3% over the first three quarters of 2013 (340 sales in 2014 versus 330 in 2013) and total dollar volume was up 7% to $309mm (versus $289mm in 2013). The average sales price rose 4% to $909,000 (from $876,000 in 2013). Aquinnah, Chilmark, Oak Bluffs and Tisbury all experienced increased activity comparing Q1-3 from 2013 to 2014 with Chilmark seeing the largest increase – 42% increase in the number of transactions from 19 in 2013 to 27 in 2014 and 63% increase in dollar volume from $25mm to $41mm. Also worth noting is the strong activity in the high end: there were 6 sales over $5mm in the first three quarters of 2014 compared to just 2 sales over $5mm in 2013.