Latest Covid update from the Vineyard Gazette - https://vineyardgazette.com/news/2021/09/02/covid-cases-hit-august-high-third-vaccinations-begin
The real estate market continues at a brisk pace however the rapidly decreasing inventory has further complicated things for buyers competing for only a minimal number of potential homes. Sellers who may be thinking of selling to buy up are faced with potential replacement homes that are priced at as much as a 30% increase from just a year ago.
All of these factors make it more important than ever for Sellers to choose a Broker who continually assesses the market conditions and adjusts accordingly to be sure that pricing remains competitive. And, that for Buyers that they become educated on the plus' and minus' of each area so that when a reasonably priced home comes on the market in the desired location in their price point, they will be prepared to submit an offer quickly to beat out other buyers.
To follow is a recap of the market for this week as well as a link to the 2021 Second Quarter Report for the entire Island. If you have any questions about any of the information we welcome you to Contact Us.
Weekly Market Update – Week Ending September 4, 2021
Total Number of Homes Available: 102
Total Number of Listings Available: 139
Number of New Listings: 16
Number of Homes Under Agreement: 21
Number of Homes Sold: 8