West Tisbury Real Estate in 1st quarter of 2012 showed a strengthening of the market with median price and average price increasing. Average price up to $1,264,714 compared to $916,809 during the same period in 2011 with the number of sales flat at 15. The median price was flat at $613,750. DOM (days on market) up s;ightly to 172. 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. The encouraging number of signed contracts and much reduced DOM in most areas showing a strong start to 2012. 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: 02575 Approximate Location Boundaries: Bounded by other island towns with wide expanses of beach on both the North and South shores.
Location Characteristics: The region of West Tisbury is rural and unspoiled, with stone walls, farms, and vineyards. It hosts the popular Farmers' Market twice a week from mid-June to mid-October, as well as the increasingly popular Agricultural Fair every August. West Tisbury also boasts some of the Island's more unique and lovely beaches.
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.
