Spring Real Estate Market Comes to Life - Market Update 5-27-20
The spring market has officially arrived. In the past two weeks, 35 more properties have come to market, pushing the month's total of new listings to 47 with four days to go in the month of May.
Last year, 48 properties came to market in the entire month of May. Thus, there will be more on the market this year than last. Sellers' hesitancy to put their homes on the market has largely disappeared, according to these stats.
Another strong indicator is the numbers of offers to purchase.
There were 14 offers to purchase made in the past two weeks, up by two over the previous two weeks. Overall, the month has 23 offers to purchase to date, just three less than the full month of May last year.
Again, the number show that intent-to-purchase activity will be equal to or exceed 2019 totals.
This is good news for the real estate market which was shocked to near stand-still in mid-March.
In-person showings in which buyer and seller agents and buyers come to look through a home are continuing to increase according to anecdotal evidence, these healthy statistics and the experience of Vineyard Open House Real Estate.
Unlike what has been shown on some disturbing Memorial Day videos, the majority of people on Martha's Vineyard are respecting the need for masks and gloves and are maintaining social distance.
This attention to the suggestions of the medical community is giving everyone involved the confidence to continue to do business.
Keeping an Eye on the Market
Stay abreast of island real estate trends on the Vineyard as they unfold, and visit the blog for the Daily MV Real Estate Market Updates which creates a snapshot of the previous 14 day’s activity, plus identifies emerging trends.
And as the reports mount up, we will give views of larger trends as they emerge.–David Lott, Principal Broker, Vineyard Open House Real Estate. Call 508-338-2495 for information about buying or selling your home.
May MV Real Estate Market Update 5-27-20
Real Estate Activity (5/21/20 to 5/27/20)
New Listings: 35 Up 17
Avg. $: $3,239,386 Median $: $1,080,000
Return to Market: 5 Down 1
Avg. $: $1,389,800 Median $: $1,450,000
Offer to Purchase: 14 Up 2
Avg. $: $1,499,636 Median $: $1,227,450
Sold: 3 Down 3
Avg. $: $1,420,958 Median $: $1,700,000
Off Market: 8 Down 1
Avg. $: $1,621,000 Median $: $1,450,000
MV Real Estate Market Update 5-27-20
TODAY’S FEATURED LISTING
215 Hines Point Rd., Vineyard Haven, MA 4 BRs/3BAs, 1,714 SF, 3.30 Acres Asking $ 4,200,000
HINES POINT WATERFRONT. Your summer is complete with this Hines Point waterfront home, featuring 100 ft of private sandy beach, a mooring, and spectacular water views.
With a tranquil setting on the Lagoon, you get to enjoy both sunrises and sunsets, plus a quick drive (or bike or walk) to Vineyard Haven and the ferry.
The comfortable main level offers a spacious kitchen, full bath, and an open living room, dining room with wood-burning fireplace, and a cozy den that takes in the panoramic views.
A large master wing also overlooks the Lagoon, with an office, walk-in closet and full bath to complete the level. _(Listed by Sandpiper.) _ Send Me More Information about this property!
Key Features: Vineyard Haven Water View Home
- Hines Point setting, .53 Acre
- Private sandy beach w/ mooring
- Panoramic water views
- Large master wing
- 5 BRs/3 BAs, 3,328 SF
- Send Me More about this Vineyard Haven Water View Home!