The Vineyard Haven, MA metro area is currently experiencing a dynamic housing market characterized by significant fluctuations in key metrics. As of January 2025, the Median Sales Price has surged to $2,250,000, marking a substantial year-over-year increase of 28.6%. This rise in sales price indicates a strong demand for homes in the area, despite other contrasting trends.

Conversely, the Median List Price has plummeted to $1,345,000, reflecting a dramatic year-over-year decline of 47.3%. This sharp decrease suggests that sellers may be adjusting their expectations in response to market conditions, potentially to attract more buyers. Additionally, the median Price Per Square Foot has decreased significantly by 72.5% year-over-year, now standing at $825.05, while the Median List Price per square foot has seen a modest increase of 8.2% to $914.30.

The number of Homes Sold has seen a remarkable increase, with 12 Homes Sold in January 2025, representing a 300% year-over-year growth. However, Pending Sales have decreased by 12.5%, with only 7 homes currently under contract. New Listings have also dropped by 50%, with just 4 new properties entering the market, contributing to a reduced inventory of 45 homes, down 38.4% from the previous year.

The Months of Supply have experienced a dramatic shift, now at 3.8 months, which is a staggering 2050% decrease year-over-year. This indicates a much faster turnover of available homes, likely driven by the increased sales activity. The Median Days on Market have also decreased significantly by 161%, now averaging 101 days, suggesting that homes are selling more quickly than in the past.

The average sale to list ratio has slightly decreased by 1.7% to 93.7%, indicating that homes are selling for slightly less than their listed prices. Notably, there have been no sales above the list price, consistent with the previous year. Price Drops have become more common, with 31.1% of listings experiencing reductions, a 24.3% increase year-over-year. Additionally, no homes have gone off the market within two weeks, unchanged from last year.

Overall, the Vineyard Haven housing market presents a complex landscape with rising sales prices and increased sales activity, juxtaposed with declining list prices and inventory. These trends suggest a market in transition, with potential opportunities for both buyers and sellers navigating the evolving conditions.