Page 12 - Luxury Market Report as of May 2020

Chilmark

Sales of luxury (>$900K) single + multi- family homes in
Chilmark rose to 23 last year 2019, up 9.5% from the prior year.
Average price rose 19.9% while median price declined 10.3%. Days
on market increased 17 days to 197, or just over 6.5 months. In
2018, sales of luxury single family homes slipped sharply down
30%,after a sharp rise the year before. 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 $5M + range, where they doubled, and in the $2M-
$3M range – up 33.3% from the year earlier levels. Chilmark sales
were split evenly between the North and South Shore areas last year.

Chilmark’s natural beauty and many amenities continue to at- Lucy Vincent Beach
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-
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