Coldwell Banker Landmarks - Martha's Vineyard Real Estate and Vacation Rentals.

Understanding the real estate market on Martha’s Vineyard is a bit of an art. If you’ve spent much time on the island, you’ll have sense of how the island differs from other places. For one thing, we tend to move more slowly here. For most people who come here, the Vineyard is a haven from life’s daily pressures. A place to escape the insanity and regain focus on life’s priorities. Establishing a value for a place that can do that, for so many different types of people, is the interesting part.

So what’s the best way to understand what you should pay or what you should sell for? Read through the information we’ve compiled here, check out our links to www.thewarrengroup.com for deeper details, and talk with your Coldwell Banker Landmarks agent. The island has unique trends, but properties sell here every day and establishing an appropriate value can be achieved with some diligent reading and professional assistance.

Here’s what we’ve put together for you:

The town sales charts we’ve compiled have been selected to provide you with both a near-term detailed picture, as well as the longer-view historic perspective, on a town-by-town basis. Use the current quarterly charts to understand the most recent market activity and the detailed, 10+ year histories for each town to understand trending over time.

In the current quarterly town details you’ll find detailed information for the last four quarters. Compare the sales volume to the average, for any quarter, and see if homes are selling faster or slower than average. Compare median and average sales prices to understand the range of pricing values for an area. Note how the number of sales by quarter varies greatly on a town by town basis—7 for Aquinnah versus 95 for Edgartown in Q2, 2001. The smaller the inventory a town has to serve demand, the higher the prices can be. Also note that the total number of transactions in any year is fairly small compared to larger markets.

In the individual town stats we have pulled information from the Warren Group site and compiled it for you for the island towns. The Warren Group publishes Bankers and Tradesman a weekly newspaper that tracks real estate transactions throughout Massachusetts. You may find additional detail on towns and sales at rers.thewarrengroup.com/townstats/search.asp.

There are a number of other factors that influence island property values which you should bear in mind:

As a resort market, Martha’s Vineyard is affected by seasonal trends, which also affect markets like Cape Cod, Nantucket, and The Hamptons. Transactions often occur such that summer occupancy can be accommodated, resulting in inventory ebbs and flows, and some skewing of data, into busier transaction times.
With repeat visits by Presidents, celebrities, and the corporate elite, Martha’s Vineyard has attracted a diverse, and frequently affluent, visitor base. These people have come to love the island, and are frequently the buyers and sellers here. Highly affluent buyers and sellers often have different investment criteria. These criteria can affect market values and drive up prices in select communities.
While local trends do not correlate directly with larger markets, the Vineyard has seen strong growth during the past five years in alignment with the strong Boston housing market. As real estate continues to provide a strong option to a weak stock market, and interest rates are favorable, island properties should continue to do well.

Your Coldwell Banker Landmarks agent will be happy to work with you to help you understand an appropriate price for a property. We can provide you with detailed competitive analysis, show you similar properties, and provide you with detailed historic information on a specific property. We’re here to help and look forward to working with you.

Current Quarterly Sales Charts (all towns)

Annual Sales Charts and Graphs for 10+ years
(for individual towns, click on the town you wish to view)