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The real estate market on the island showed healthy activity in the first three quarters of 2014. Total number of transactions increased 3% over the first three quarters of 2013 (340 sales in 2014 versus 330 in 2013) and total dollar volume was up 7% to $309mm (versus $289mm in 2013). The average sales price rose 4% to $909,000 (from $876,000 in 2013). Aquinnah, Chilmark, Oak Bluffs and Tisbury all experienced increased activity comparing Q1-3 from 2013 to 2014 with Chilmark seeing the largest increase – 42% increase in the number of transactions from 19 in 2013 to 27 in 2014 and 63% increase in dollar volume from $25mm to $41mm. Also worth noting is the strong activity in the high end: there were 6 sales over $5mm in the first three quarters of 2014 compared to just 2 sales over $5mm in 2013.

Another transition new Martha’s Vineyard home owners experience when spending time on island is the role of the ferry. As a vacationer it is almost competitive to acquire the perfect reservations to arrive and depart on Saturdays in August. The Bourne Bridge, the rotaries, the green Steamship Authority signs all trigger the anticipation for the Vineyard… Kids are bouncing in the back seat and parents are smug that they are pulling into the terminal at just the right time, not too early but with time to use the bathroom, pick up a schedule, and buy an ice cream cone.

The real estate market on Martha’s Vineyard remained essentially flat in 2013 compared with 2012. The number of properties sold in 2013 decreased just 1% to 502, total dollar volume decreased similarly 1.5% to $472mm, and average sales price fell just 0.6% to $941,000.