Edgartown Real Estate is following the nation with a strong start to 2012. The number of sales jumped from 30 to 51 1st quarter of 2012 and the average price down a bit to $1,239,596. The change in activity has been dramatic although the downtown area still remains sluggish. DOM (days on market) continues to improve although there will be some limit and we certainly have not reached it yet. DOM was 167 in Edgartown 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 in Edgartown dropped from $773,000 to $758,000. 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: 02539 Approximate Location Boundaries: Waterfront
Location Characteristics: The streets of Edgartown, the Island's first colonial settlement, are lined with upscale shops, art galleries, fine restaurants, and historic churches. The stately houses, many of them carefully restored sea captains' homes, are surrounded by well-manicured lawns and blossoming gardens. Some have lovely views of the Edgartown harbor. Built in 1843 at the height of the whaling industry, the famous Old Whaling Church with its six majestic columns commands Main Street and now serves primarily as a performing arts center. Directly south of Edgartown is an area known as Katama, featuring contemporary vacation homes and a three-mile public barrier beach called South Beach, with surf on one side and protected salt pond on the other.
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.
