MARTHA’S VINEYARD MARKET UPDATE
A BUYER’S MARKET is when there are more homes available than buyers looking.
A SELLER’S MARKET is when there are more buyers looking than homes available.
How to determine if it is a seller's or buyer's Market.
In general, it’s a seller’s market if inventory is adequate for 5 months (or less) worth of sales. If you have 5 to 7 months of inventory, you have a balanced market, and anytime you have more than seven months’ worth of inventory, you’re in a buyer’s market.
Let's see what that means for Martha's Vineyard.
To determine inventory, we take the number of houses for sale and divide it by the number of sales in the past 30 days.
– Homes and Condos on the market as of 12/01/22 (inventory): 123
– Homes and Condos sold last month (sales): 26
Divide those and you get 4.73 or 5 Months. That puts us — at least for today — in a SELLER’S market here on Martha’s Vineyard.
Learn more about martha's vineyard real estate
If you want to talk more about what’s happening on Martha’s Vineyard this winter, I’d love to connect. No matter the market, I’m here to help you reach your real estate goals!
let's connect
📲 Contact me today to learn more about how I can help you take the next steps in your Martha’s Vineyard home-buying OR selling journey!
Maranda Post, Realtor®, The O’Hanlon Group, Compass
📞 619.718.1091
📧 info@marandapostrealtor.com
💻️ www.marandapostrealtor.com
