As the summer season gains momentum, Martha’s Vineyard’s real estate market continues to show signs of a shifting landscape. June brought a mix of high-end inventory, moderate sales activity, and varied buyer behavior across the island’s towns.
Island-wide, 16 properties were sold during the month, with an average sale price of approximately $1.66 million and a median price of $1.43 million. On average, properties sold for 114 percent of their assessed value, indicating solid demand despite an increase in listings. There were 65 new listings in June alone, bringing total active inventory to 242 properties, with some listings priced as high as $33 million. The absorption rate stands at 15 months, suggesting a move toward a more balanced or even buyer-friendly market.
In Edgartown, only two properties changed hands in June, but the town continued to lead in luxury activity. New listings averaged over $5.2 million, and the median asking price among active listings was $3.27 million. Properties here are listed well above assessment, at an average of 236 percent.
Vineyard Haven was more active, with six sales and a median sale price of $1.43 million. New listings came in at an average of $3.93 million, with the highest reaching $12.5 million. Inventory remains steady at 40 homes, with a 13-month absorption rate.
Oak Bluffs saw four sales with a median price of $1.4 million. Inventory increased slightly with 15 new listings, and the average list price for new properties came in around $1.47 million. Homes here sold close to assessed values, averaging 110 percent.
West Tisbury had two sales and remains one of the more affordable areas, with a median price of $1.18 million. However, inventory is tight, with only 28 homes on the market and an absorption rate of just 9 months, making it the most competitive segment on the island.
Chilmark saw no recorded sales in June, though it continues to draw interest in the ultra-luxury tier. Four new listings averaged over $6 million, and active inventory includes homes priced as high as $16.5 million. With 31 months of inventory, Chilmark is firmly a long-term, high-end market.
Aquinnah posted two sales, both at or above $3.3 million. The town added four new listings averaging $3.06 million, and active inventory remains strong at a 14-month absorption rate.
Overall, buyers are seeing more options and greater room to negotiate in many areas, particularly in the high-end market. Sellers should prepare for longer time on market and consider pricing strategies that reflect the growing inventory.
