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Market update 7-8-20 – July Starts Hot

July First Week Report – Market Update 7-8-20

Market Update 7-8-20
Today’s Featured Listing enjoys harbor and Vineyard Sound views.

The month of July has started at the same torrid pace as the month of June. New listings and return-to-market properties totaled 24 listings, up from June. Plus there were 15 offers to purchase accepted.

And, sold properties, representing transactions mostly begun eight weeks ago in early May when the current activity was just heating up totaled seven.

Safety Protocols

In-person showings in which buyer and seller agents and buyers come to look through a home are continuing at a quick pace, according to recent activity and the experience of Vineyard Open House Real Estate.

All agents are respecting the need for masks and gloves and are maintaining social distances while counseling their clients to follow these safety protocols.

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 weeks’ 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.

July 1st Week Report
MV Real Estate Market Update 7-8-20

Real Estate Activity  (July 1 to July 8)

New Listings Listings: 22   (21)

Avg. $: $1,496,241
Median $: $1,012,500

Return to Market: 2

Avg. $: $2,550,000
Median $: $2,550,000

Offer to Purchase: 15 (13)

Avg. $: $1,444,927
Median $: $1,295,000

Sold Listings: 7

Avg. $: $1,705,571
Median $: $1,093,00

Off Market: 5

Avg. $: $2,484,000
Median $: $975,000

MV Real Estate Market Update 7-8-20

TODAY’S FEATURED LISTING

Oak Bluffs Beachfront Home – Now Under Agreement!

Market Update 7-8-20
A classic beachfront cottage w/ its beach protected by a stone breakwater.

273 East Chop Drive, Oak Bluffs – PROPERTY UNDER AGREEMENT
$ 1,645,000
3 BRs/1.5 BAs
1,104 SF .24 Acres

Nicknamed ‘Little Jaws’ after the cinematic classic, this quintessential Vineyard retreat sits at the water’s edge, ready to provide you with amazing Vineyard summer memories.

Built in the 1930s, this charming retreat is centered around the vaulted living room and its large beach-stone fireplace.

Original hardwood floors and detail throughout give the cottage charm and authenticity.

Market Update 7-8-20
Beachstone fireplace, vaulted ceilings and multiple windows create a comfortable space.

The first floor offers 2 bedrooms with full bath along with kitchen, dining area and sun-room, perfect for an afternoon nap or to catch up with a great book.

The second floor is comprised of the Master Bedroom with powder room. The large covered porch is the perfect spot to listen to the waves and watch the activity in Vineyard Sound.

Enjoy incredible sunsets, boating, paddle-boarding, fishing, etc, are literally just steps away. (Listed by Donnelly + Co)

Key Features: Oak Bluffs Beachfront Home

Market Update 7-8-20
A covered porch ensures a protected space for morning coffee & dining.

  • This property is now under agreement
  • Beachfront home
  • Covered waterfront porch
  • Private beach
  • Outdoor shower
  • Beach-stone fireplace
  • Close to downtown Vineyard Haven
  • Stainless kitchen appliances
  • Propane heat
    The month of July has started at the same torrid pace as the month of June. New listings and return-to-market properties totaled 24 listings, up from June. Plus, there were 15 offers to purchase accepted.

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