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Daily MV Market Real Estate Update 5-13-20

Posted by David Lott on May 13, 2020
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Daily MV Real Estate Market Update 5-13-20

harbor view hotel
This week’s featured listing is a Captain’s Cottage at the Harbor View Hotel.

May is just barely two weeks old  and in a good sign of a healthier market, more offers to purchase have been accepted (10) this month than the entire month of April (8).

Overall, 18 listings have come on the market (13 new, 5 returned) and 11 properties have sold. This number is consistent with the numbers we have been showcasing the past 6 weeks.

Virtual Showings

Island agents have been getting good looks at the properties coming to market via virtual open houses, which are held for agents every Tuesday. The showings are helping get the word out about the homes, and buyers are getting educated about the market.

Homes are also being shown in person by agents while maintaining strict social distancing guidelines along with the wearing of gloves and masks.The result is offers are being made and the market wheels are turning.

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 5-13-20

Real Estate Activity  (4/30/20 – 5/13/20)

New Listings: 13

Avg. $: $1,490,769
Median $: $1,350,000

Return to Market: 5

Avg. $: $1,320,000
Median $: $725,000

Offer to Purchase: 10

Avg. $: $868,500
Median $: $948,500

Sold: 11

Avg. $: $1,061,795
Median $: $1,145,000

Off Market: 4

Avg. $: $2,249,750
Median $: $1,824,500

MV Real Estate Market Update 5-13-20

TODAY’S FEATURED LISTING

Market Update 5-13-20
This luxury, 2BR/2BA condo comes furnished w/ hotel amenities.

131 North Water, Edgartown
2 BRs/2 BAs – 761 SF – Condominium
Asking $ 899,000

This 2BR/2BA condominium gives you the opportunity to own luxury property with a water view just steps from Edgartown’s iconic lighthouse.

Located at the famed Grande Dame of the island, the Harbor View Hotel, this Captain’s Cottage suite gives you all charm and delight of Vineyard ownership with all the services, amenities and convenience that come with a private, fully-managed Cottage suite at the Harbor View. Send Me More Information about this Cottage!

‘Dream Home’ Interior Design

The Cottage comes furnished by  interior designer Linda Woodrum, known for her work on HGTV “Dream Homes” and Coastal Living Idea Houses, who has created a fresh, inviting, interior with colorful furnishings that evoke the Vineyard seaside lifestyle.

The suite comes fully furnished with an additional queen size pull-out sofa in the living room and is fully equipped with top-of-the-line amenities.

The bathrooms are marble and/or mini ceramic tiled, glass-walled showers, bathtubs with exceptional quality hardware appointments. (Listed by Point B Realty) Send Me More Information about this Cottage!

Key Features: Captain’s Cottage 2BR Suite

Market Update 5-13-20
Comfy living room comes with gas fireplace & flat-screen TV.

  • Luxury 2BR/2BA condominium
  • Access to Harbor View Hotel dining, pool & other amenities
  • Managed & rented by the Harbor View Hotel
  • Fully furnished
  • Flat-screen TVs
  • Gas fireplace
  • Solid black walnut floors
  • V-groove paneled walls
  • Color scheme varies from warm blue, soft beige, browns and white or coral red, beige and browns
  • Send Me More Details about this Captains Cottage!
    Here are the latest real estate market trends on Martha's Vineyard in which the month of May has started with 10 accepted offers--more than all of April.

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