2011 proved to be a year of reduced sales on Martha’s Vineyard with home sales totaling 319, down 9.1% from 2010 and the average price dropped to under a million, and at $939,000 was down 10.9% from the prior year. The median home price settled at $555,000 which was down 9.8% from 2010.
At the beginning of this 2012 I predicted sales would be ‘flat’ and pretty much a repeat of 2011. However, if home sales numbers at the end of February are any indication I will have to agree with NAR’s chief economist that Spring Looks Bright .
As we rolled out of February into March, home unit sales were already up by 40.8% and the average sales price was down by 11.5%. The median sale price was up by 7.7%.
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