Martha’s Vineyard Real Estate Market Report - 1st Quarter 2016
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Martha’s Vineyard Real Estate Market Report - 1st Quarter 2016
The activity level in the first quarter of 2016 kept pace with that of first quarter 2015. There were 109 transactions in 2016 versus 107 in 2015. However, the dollar volume was down 41% in the first quarter of 2016 compared to the same period in 2015 ($150mm in 2015 versus $106mm in 2016). This decrease in dollar volume was caused mainly by diminished high end sales. There were only 5 sales over $3mm in the first quarter of 2016 with the highest being $6.1mm, versus 12 sales over $3mm in Q1 2015 with the highest being $22mm. Like the island overall, most of the towns sustained their activity levels in the first quarter of 2016; however, Oak Bluffs saw gains to Edgartown’s losses. Oak Bluffs sales jumped from 19 in Q1 2015 to 31 in Q1 2016. Edgartown sales decreased from 40 in Q1 2015 to 30 in Q1 2016. The remaining town’s transactions remained essentially flat. For more detailed market information, please click here to see our 2015 Market Report