JUNE MARKET STATISTICS ~ MARTHA'S VINEYARD, MASSACHUSETTS
Following is our real estate Market Report for the month of June.
The number of units sold during the month increased slightly (+2) over the previous month but decreased significantly (-9) from June 2008. The median sale price followed the same trend, increasing slightly (+$7,000) over May 2009 but decreasing substantially (-$126,000) over the same month last year.
High-end sales (over $3.0M) account for just 6% of the units sold thus far this year with the majority closing last January. There was 1 sale over $3.0M in June and the property was located in Edgartown Village. Further, all sales over $1.0M during the month of June were properties located in Edgartown - no other island town had a sale over $999K.
With the numbers for June now in, we're able to compare the first half of the current year to the first half of 2008. These numbers are validating what we have maintained since the beginning of the year - we are following the national trend. Both units sold and dollar volume is down, 20% and 22% respectively, compared to the first six months of 2008.
On a positive note, there has been some good buyer activity since the summer season began. The question yet to be answered is whether any of this activity will generate sales.
Please visit the Monthly Market Statistics page on our website for charts and graphs illustrating the current state of the real estate market on Martha's Vineyard.
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