Page 12 - Luxury Market Report as of January 2021 revised 3-15-21

Chilmark

Sales of luxury (>$900K) single + multi- family homes in
Chilmark rose to 32 last year 2020, up 39.1% from the prior year,
and brought them back up to the levels of 2016 and 2017. Median
price rose 16.7%. Days on market decreased 56 days to 141, or just
4.7 months. Recent sales have included the storied 18.5-acre water
front Seven Gates property on the North Shore for $11.5M bought by a
former Secretary of State, and the $6.5M sale of a 6,000 sq. ft. South
Shore home overlooking Chilmark Pond, Lucy Vincent Beach and the

Atlantic Ocean. The town’s strongest sales last year were in the $1M -
$3M range.

Chilmark’s natural beauty and many amenities continue to at-
tract the older, upscale, wealthy and famous home buyer looking for an
exclusive, private getaway. But increasingly the older Gen X and Mil-
lennial generations (this 25-44 year-old age group grew 33% in the lat- 31 Tea Lane 5.0 acre lot, sold for $825,000
est census), are buying into the community to partake of its many cul-
tural events, outdoor activities and vistas, including its unique and his-
toric stone walls, beautiful beaches, and variety of hiking trails includ-
ing Cedar Tree Neck, and Menemsha Hills.

Chilmark is also known for its unique art community, while the
Chilmark Community Center is an active center for children’s activities
and the Chilmark Film Festival has become a local landmark. Chilmark
Tavern is known for hosting local musicians, and of course there is
Chilmark Chocolates, Chilmark Flee Market, and the Chilmark Road
Race, the best road race on the island. Sailors and fishermen from
around the world flock to Menemsha Harbor for a safe base of opera-
tions. And, for those keeping an eye out for movie stars, musicians and
other notable residents, those in the know can often spot Ted Danson,
James Taylor, Carly Simon, the Obama’s and Bill Murray.

Menemsha Harbor