Daily Mv Real Estate Market Update 6-17-20

June Mid-Month Report – Market Update 6-17-20

This week’s featured listing offers a sumptuous lifestyle complete w/ views.

All anxiety that the spring real estate activity was going to be pandemically challenged has been erased by a charging market.

Fueled by cash buyers flush with capital that needs to be invested, former fence sitters, urban dwellers fleeing the city and pent-up demand, the Vineyard real estate market, like markets across the U.S., is flourishing.

For the first 15 days of June, 45 new listings have come on the market, a 55% increase over the same period last year. Even more encouraging, 30 offers to purchase have been accepted, nearly double that of the same period in 2019.

Sold properties, which mostly reflect offers made 30 to 60 days prior during the worst of the current outbreak, are down by two at 20. Those numbers will surely rise as closings are registered in the coming weeks.

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 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.

June Mid-Month Report MV Real Estate Market Update 6-17-20

Real Estate Activity (June 1 to 15)

New Listings: 45 (last year 29)

Avg. $: $2,416,376 Median $: $1,450,000

Return to Market: 6

Avg. $: $5,958,333 Median $: $3,712,500

Offer to Purchase: 30 (last year 17)

Avg. $: $1,456,900 Median $: $1,250,000

Sold: 20 (last year 22)

Avg. $: $2,121,800 Median $: $1,002,500

Off Market: 10 (last year 7) Avg. $: $2,537,800 Median $: $2,150,000

MV Real Estate Market Update 6-17-20

TODAY’S FEATURED LISTING

52 Mill House Way, Vineyard Haven

Views extend out across the harbor and to the Sound.

52 Mill House Way, Vineyard Haven MA 6 BRs/7 BA – 7,101 SF – 1.55 Acres Asking $ 11.5M

If you have ever dreamed about what kind of home you would create with an unlimited budget, you would have built the spectacular home at 52 Mill House Way.

Featuring wide panoramic views of Vineyard Haven harbor and its constantly wheeling wind-driven boats, the property includes a guest house, outdoor spa, patio, porches, dramatic master suite overlooking the harbor, wine cellar and so much more.

The gourmet kitchen leads right to the porch and more water views.

Your own sandy beach is just steps away and a short, a leisurely stroll takes you right into downtown Vineyard Haven.

Whether you are in the market, looking for design ideas or just dreaming, viewing the many stunning photos of this fabulous home and its luxurious setting is a must. (Listed by Viewpoints.) Send Me More Information about this property!