Real Estate Activity for week ending August 10th, 2012

This past week on the Island has seen the following activity in our real estate market.

9 New listings with an average price of $1,292,611 and a median price of $489,900.

12 properties had a Price Reduction with an average days on market of 242

1 property Sold for $390,000 (from an asking price of $450,000) and was on the market for 704 days!

6 Offers were accepted this week with an average price of $619,667, median price of $459,000 and 96 days on market on average.

5 properties went to purchase and sale (we have a two step purchase process in Massachusetts), with an average price of $434,200 and a median price of $429,000 and an average of 325 days on the market.

My choice this week is a home on Lagoon Ave in Vineyard Haven.  A short sale at $339,500 with 5 bedrooms.  The short sale process is now getting more streamlined, though you still have to work with the timeline and the system.  For more information, call me at 508-939-0206 or email Susan@HomesonMVY.com.