Martha’s Vineyard Real Estate News for September

Edgartown Luxury Homes 

  As the market in general begins to improve, the luxury home market in Edgartown is showing some homes never before available. Enjoy the slides and please call with any and all questions.

Several times a year I am interviewed by Gary Rosenberger of Econoplay; Reality Based Economic Forecasting. A free trial is available for our clients
Some quotes this month:
NEW YORK (EconoPlay) Sept. 18 – Existing home sales fell in August, constrained by chronic inventory shortages, vacations, and what appears to be a new round of overreaching on the part of sellers in select locations, brokers say. Fred Roven, owner of Martha’s Vineyard Buyer Agents in Massachusetts,…. is spotting some overreaching on the part of sellers that he warns will slow his market. “I am extremely concerned about the increase in list prices in the last 90 days in Edgartown,” he said, noting a total disconnect to recent past averages and trends, which is what he looks at when representing his buyers. “That much of an increase makes life pretty difficult for an agent representing the buyer,” Roven said. “There are buyers out there who feel the luxury segment is overpriced.” Part of that run-­‐up is due to scarcity. “Our inventory is at 461 down significantly from last summer .,” he said. This overreach has slowed sales of waterfront homes, which have gone from an average of 86% of assessed value to 144% of assessed value almost overnight, Roven said.

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About emmamv

I am an exclusive buyers agent working and living on the beautiful Island Of Martha's Vineyard. I am a REALTOR® (member of National Association of Realtors), a member of the National Association of Exclusive Buyer Agents. I help people fulfil their dreams of buying a home on Martha's Vineyard. I don't sell homes, I help people buy a home.
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