Below is our standard property transfer and inventory summary for the month of September for the island of Martha's Vineyard. 

There were 35 sales in September, down just 5 from September 2007 but actually up by 11 over August.  The increase can be attributed to activity generated during the summer months. 

The increase also follows the state trend as reported by The Warren Group.  They released numbers at the end of October, stating that "the Bay State housing market got a bounce in September... the first increase in monthly home sales, year-over-year, in 11 months." 

That's the good news... the same article stated that median home prices fell 15.6 % across the state; approximately the same depreciation that we've tracked on the Island.

At this time, the LINKMV service is reporting only 41 sales pending.  If all close, total sales for 2008 for the Vineyard will be down approximately 28% from 2007.

It should also be noted that the available inventory of properties for sale is 819, up 18% from 674 in September 2007.  This number (819) exceeds that at any time during the last market drop from 1989 to 1991.