Below is a four year comparison for Martha's Vineyard Island total year to date sales. Note that, as of the end of August, there has been a 20% decline since 2007 and a 41% decline since the height of the market in 2005.
Buyer activity this summer on the Vineyard was strong but most, if not all, were looking for better values. Most buyers are waiting for price reductions and many owners are reducing their price evidenced by 93 reductions on the island during the month of September.
The year of a national election is typically one of some instability in the real estate market; we hope that the choice of a new president will bring some relief of the current economic climate and thus to the real estate market both on and off Martha's Vineyard. However, we are prepared for a long turn around time unless there is some substantial change in the financial markets.
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