Martha's Vineyard, MA

Martha’s Vineyard

Martha's Vineyard prices fluctuate slightly more than in other markets, and the trend isn't going upward. The past two years have seen an average sales price of $13M in 2023 and $9M in 2024. The same trend is happening in reverse when it comes to Days On Market (DOM), where the high sales average years coincide with a low DOM, and the low prices with high DOM. The market saw a sharp incline in the past two years, with 191 DOM in 2023 and 511 DOM in 2024.

Highlights

• Prices dipped from $13M in 2023to $9M in 2024

• DOM inversely correlates with prices, rising from 191 to 511 days YOY

• The market maintains a high sale-to-list price ratio of 92%, despite fluctuations

Slow, but diligently

While sales prices and DOM fluctuated, sellers tend to price their properties right. The percentage of sale-to-list price ratio is more stable and relatively high compared to the region and US market. With 93% in 2023 and 92% in 2024, these are the most efficient years Martha's Vineyard has ever seen. 

Let's compare this to the region where the sale-to-list price ratio was 77% in 2023 and 76% in 2024. Even though the market seems steady overall, when we look at the differences between fast selling (within 180 days) and selling slowly, there is a notable gap in the percentage of the list price sellers achieve for their properties. The percentage of sale-to-list price between those segments differs by 12% and 10% between 2023 and 2024, respectively.