This holiday week things are a bit quiet on the Island. There have been 8 new listings with a median price of $2,450,000. This is a deceiving number as several of these listings are co- or tri-listings. Agencies here on the Island often share the listing agent side of a property. Homeowners believe this gives them more exposure - it doesn't. Wouldn't a prudent business person advertise their exclusive offerings more often and in more visible places? Agents believe this boosts their inventory, and it does, but they forget about the shared liability that comes with a co- or tri-exclusive listing. I hope they have their E&O insurance premiums up to date!
6 properties had price changes (all down - as if you didn't know) this week. The Average Price is now $1,696,167, but as we've discussed before, the more important number - the median - is $599,000. Average days on the market for these properties? 254 days (so far).
1 property sold in the last 7 days (that's assuming that agents are entering their sales data on time and accurately). That one property - in Chilmark - sold for $2,200,000. It was on the market for 811 days! A long time!
As the holidays approach, many homeowners and prospective purchasers turn their focus to other life happenings. I hope your life is filled with the happiness and generosity that the holidays bring.
Susan
Friday, November 23, 2012
Sunday, November 4, 2012
Edgartown Sales for 10/11 - 11/12
In the last year there have been 146 sales in the town of Edgartown, MA. This includes lots of land and commercial properties in addition to single family homes. It also incorporates sales on Chappaquiddick, which is part of Edgartown.
The Average Sale price was $1,019,319.00 and the Median Sales Price (a more important indicator) was $645,000.00.
The Average Days on the Market was 181.
You may be surprised to learn that there were foreclosures in Edgartown. They accounted for 11 sales in this one year period. A pretty high number considering - 7% - the perception of Edgartown.
A number of sales were private (i.e., did not use a real estate professional) but the majority were consummated with the assistance of a real estate professional (115). Experience shows that a majority of real estate transactions are facilitated by a real estate professional. Our Edgartown numbers bear this out with 80% of all sales recorded in Edgartown transacted through a real estate agency. Another reason to use a professional!
The Average Sale price was $1,019,319.00 and the Median Sales Price (a more important indicator) was $645,000.00.
The Average Days on the Market was 181.
You may be surprised to learn that there were foreclosures in Edgartown. They accounted for 11 sales in this one year period. A pretty high number considering - 7% - the perception of Edgartown.
A number of sales were private (i.e., did not use a real estate professional) but the majority were consummated with the assistance of a real estate professional (115). Experience shows that a majority of real estate transactions are facilitated by a real estate professional. Our Edgartown numbers bear this out with 80% of all sales recorded in Edgartown transacted through a real estate agency. Another reason to use a professional!
Friday, November 2, 2012
My Pick of the Week - November 1st
Saw this house on tour yesterday - a true in-town gem!
12 Main Street Vineyard Haven, offered for $1,998,000 with 4 bedrooms, 4.5 bathrooms, a roof deck and a to-die-for game room in the lower level. Comes furnished too! Great rental history and I fell in love with the stone (I think it was a blue agate) in one of the bathrooms. All had granite or stone and each was different. Stroll to Mocha Motts for capuccino, and enjoy it on your roof deck with views over town and the harbor. Beautifully built! An Island treasure. Call me for a private viewing at 508-939-0206.
12 Main Street Vineyard Haven, offered for $1,998,000 with 4 bedrooms, 4.5 bathrooms, a roof deck and a to-die-for game room in the lower level. Comes furnished too! Great rental history and I fell in love with the stone (I think it was a blue agate) in one of the bathrooms. All had granite or stone and each was different. Stroll to Mocha Motts for capuccino, and enjoy it on your roof deck with views over town and the harbor. Beautifully built! An Island treasure. Call me for a private viewing at 508-939-0206.
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