October Market Report
As fall continues, buyer activity has slowed, as is typical for this time of year, though we still expect solid numbers for November and December, if not at the pace of the past two months.
October saw 53 sales for $156 million in volume, surpassing September as the busiest month of the year by both count and dollar volume. Sales included a $17.5 million property in Edgartown, which sold above its asking price, along with six other properties priced above $5 million. Edgartown led with 20 sales, followed by Oak Bluffs with 10. Compared to October of last year, transaction count rose 4% and the median sale price rose 41%. Dollar volume was down 8%, as last October included a $37.5 million sale.
Year-to-date, 298 transactions have closed, totaling $838 million. Transactions are down 2%, but volume is up 18%, and the average sale price is up 20% year over year.
Inventory is slightly lower, with 202 properties on the market compared to 206 a year ago.
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