Vineyard Haven Real Estate in 2011 showed a strengthening of the market with median price up although there were not a great number of million dollar plus homes bringing average down to $745,906. The number of single home sales dropped from 79 to 54. One bright spot is DOM (days on market) has dropped dramatically from 326 to 230. DOM is the figure to watch right now for strength of the market. Combined with a 20% reduction in inventory may be a glimpse into the future. Although there are seasonal changes to inventory, there are currently 118 single-family homes on the market in Vineyard Haven, about average for this time of year, but the good news is 10% or 12 of those listings are under contract to close. The encouraging number of signed contracts and much reduced DOM again in January are repeated across the island. This year is starting out very strong. The best national news I saw was in Bloomberg: "The number of properties on the market dropped by 9.2% to 2.38 million, the fewest since March 2005." There are those who would comment I always say it is going to be a great year and this year you can really feel it in the air.
ZIP Code: 02568 Approximate Location Boundaries: Bounded by Vineyard Sound on the north, West Tisbury on the west and Oak Bluffs east.
Location Characteristics: Also known as Tisbury, the town of Vineyard Haven is an active commercial center throughout the year. Home to delightful inns, large and small, it opens its welcome arms to the influx of travelers arriving by ferry to the Island. Vineyard Haven's Main Street includes a variety of eateries and an array of shops catering to the tastes of any visitor. The Vineyard Haven harbor is an active and lovely sight and was once one of the most heavily sailed ports in the world. At the top of Main Street, one can enjoy the serene passage of sailboats from Owen Park, with its charming small beach, playground equipment for the tots, and the Liberty Pole landmark.
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.
