February 7, 2014

 

Happy Winter greetings from a very snowy Martha’s Vineyard.  For those of us who love winter (and I am one of those), this has been a great season!  Four to six more inches starting tonight!

You may remember from last month’s update that the 2013 sales data was a mirror image of 2012; the first time we have seen 2 years in a row with positive numbers since prior to 2005.  The January 2014 numbers continue this course of mostly positive information. 

Month/Year                          Jan/2014               Jan/2013               Jan/2012               Dec/2013

# Residential Sales                36                           16                              33                         39

Average Price                       $1.126M               $697K                    $967M                   $1.154M

Median Price                        $521K                    $602K                    $597K                    $ 750K

Avg.  Days on Market        207                        254                            228                        249

These numbers indicate a steady market (month over month) with a decline in days on market.  Please remember the January 2013 numbers are “skewed” since the fiscal cliff pushed may sales into 2012.  The strong finish in the 2013 market is supported by a strong start in 2014!

 In the words of Steve Harney, a real estate economist, “2012 was a year of recovery; 2013 was a year of stabilization; 2014 will be a year of growth”.  I believe this statement also directly resembles what we have seen on the island.  And…all indicators point to a strong year ahead in real estate sales.

 

Thank you for your trust and patience in what I do.  All the best.

 

Doug Reece                                                                                                         

Certified Residential Specialist®,

Certified Luxury Home Marketing Specialist®

Accredited Buyers Agent®