Page 10 - Luxury Market Report 2018
P. 10

Vineyard Haven







                       Following strong gains in 2017, when sales of luxury
                (>$900k) single family homes increased 50% in Vineyard
                Haven, sales leveled off during the first nine months of this
                year compared to year-earlier levels. Both average and median
                selling prices declined — 10.5% and 7.6% respectively, during
                the first nine months of 2018, while days on market declined by
                1 1/2 months.

                       The diversity of the communities in Vineyard Haven –
                from West Chop, to Tashmoo, Lambert’s Cove, Downtown,
                Central and South Tisbury, offer every type of luxury buyer
                access to ocean views, beaches, and amenities ranging from                                            Scenic Vineyard Haven Harbor
                shops, restaurants and transportation, to golf, tennis, lakes, har-
                bors and yacht clubs. With a reputation for catering to wealthier,
                young-to-middle age couples and families, Vineyard Haven con-
                tinues to be a highly desired locale for those looking to purchase
                their first vacation home, or move up to a more luxurious West
                Chop, Tashmoo or downtown home.


                       Recent approval of town wide liquor licenses, a new fire
                department, pending renovations of the elementary school, and
                town hall, as well as the new Martha’s Vineyard Museum, Ernie
                Boch Park on the water front, and enhanced walkways and bike
                paths along Beach Road, underwrite a vibrant future for down-
                town Vineyard Haven.




                                                                                              Herring Creek Road Lake Tashmoo area, sold for $825,000
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