MARTHA’S VINEYARD 2025 MID-YEAR REAL ESTATE MARKET REPORT
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There were 142 properties sold in the first half of 2024 compared with 155 in the first half of 2025. That's 13 more transactions this year, an increase of 9%
Although this metric has improved, it is important to keep in mind that 2024 had the lowest number of transactions in the first half of the year since 2009 (which was immediately following the global economic crisis of 2008 caused by the housing bubble).
Looking at this in dollar volume the total was $304mm in the first half of 2025 compared to $271mm 2024 - a 12% increase.
Average price is up 3% from $1.91mm in the first half of 2024 to $1.96mm in the first half of 2025.
Although average price increased, average price is still down from its peak in the first half of 2024 where the average transaction price was $2.061mm.
The first half of 2025 is healthy compared to the first half of 2024 but the first half of 2024 was a slow market.
Inventory continued to tick up in the first half of 2025 approaching the pre Covid norm:2020 - 396 properties on the market
2023 - 180 properties on the market
2024 - 262 properties on the market
2025 - 350 properties on the market.
All towns experienced varying growth in dollar volume except Tisbury and West Tisbury in the first half of 2025. The decline of dollar volume in these towns was primarily due to the lack of high-end sales during the time frame although Tisbury also had 12 fewer transactions in the first half of 2025 (26 transactions) compared with 2024 (38 transactions).
The high-end overall on the island held steady at 16 sales over $4mm in the first half of 2025 compared with 15 sales in the first half of 2024.
At mid-year 2025, with higher inventory and historically sluggish transactions, the shift from the Seller’s market to a Buyer’s market is well underway, with average days on market also returning to pre-COVID figures.
Although prices seem to be holding high, only strong activity in the second half of the year will keep them there. We do not expect prices to slide dramatically, but we do expect some softening and have witnessed price reductions occurring already during the prime mid-summer season.
For those who are considering buying or selling, understanding this market can be challenging.
For more information, contact your Tea Lane broker or give us a call. 508 696 9999
