2022 Martha's Vineyard Market Update

On Martha's Vineyard the number of sales were down 34% in 2022 compared to 2021. The median sale price in 2022 was $1,985,000 up 12.3% from 2021. Despite limited inventory, 442 properties transferred on Martha's Vineyard totaling $877.3 million in total dollar volume of sales. The numbers suggest a slight slow down but the demand for Martha's Vineyard real estate continues to be strong.  Here is a snapshot of the 2022 real estate sales for single family home on Martha's Vineyard.

Edgartown had the highest number of single family home sales in 2022 compared to other towns on Martha's Vineyard.   Both commercial and condo sales were up this year in Edgartown compared to 2021.  Here is a snapshot of the Edgartown 2022 single family home sales.

Oak Bluffs home sales were down 32% in 2022 compared to 2021, however, the median sale price was up 27% compared to 2021. Land sales in Oak Bluffs were up 20% compared to 2021.  Here is a snapshot of the Oak Bluffs 2022 single family home sales.

Chilmark inventory remains at an all time low! There we 21 single family home sales in Chilmark in 2022 compared to 30 home sales in 2021.  The median sale price in Chilmark ws $3,400,000 which was up 49% compared to 2021.  The highest home sale price in Chilmark was $9,250,000.  There were no land sales in Chilmark in 2022.

It is more important than ever to speak to a real estate expert when buying or selling a home. Backed by the power of the Sotheby's International Realty brand, we continue to be leader in the Martha's Vineyard real estate market. I believe that luxury is a level of service not a price point.