Chilmark Real Estate is following the nation with a strong start to 2012. Although the number of sales dropped the 1st quarter of 2012, the average price has gone up to $2,413,500. Chilmark had been one of the slowest parts of the market and the change is welcome (at least by sellers). DOM (days on market) continues to improve although there will be some limit and we certainly have not reached it yet. DOM was 88 in Chilmark compared to 222 Island wide for the 1st quarter. Possibly another indication of a change is the significant increase of pending sales both locally and across the country. Median price may not have much meaning in Chilmark with so few sales and stands at $1,855,000. In one surprise, the inventory went up during early spring as sellers who had left the market begin their return. The national news remains encouraging and Barron's Online picked Martha's Vineyard as the third best place in the country to purchase a second home. Inman News reports "2012 home sales will be strongest in past 5 years" and "Spring buying season shows promise. Esquire remains my second favorite place for housing market news reporting "it has been a while, but time to get your wallet out". Ken Kurson at Esquire discusses the housing bubble and what to watch for in years to come. (Econoplay my favorite source for economic news).
ZIP Code: 02535 Approximate Location Boundaries: Waterfront on both the north and south shores
Location Characteristics: One of three towns located in the area known as "Up Island", the town of Chilmark offers some of the most breathtaking views of unspoiled land, rolling meadows, and brilliant sea. The town center is marked by a lovely church, as well as a general store featuring a spacious down-home porch where visitors and natives alike gather throughout the day to feast, chat and share the latest local tidbits.
About Fred Roven:
I am a Realtor specializing in Exclusive Buyer Agency. I take no listings and represent Buyers only in the purchase of vacation, residential, investment and commercial property on the island of Martha's Vineyard.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
