What a year it was. From the life and lifestyle pivots caused by Covid-19 to the explosive real estate and vacation rental market on Martha’s Vineyard. Summing it up: Martha’s Vineyard Real Estate Sales Top $1 Billion And Point B Realty Gains Significant Market Share.
The Martha’s Vineyard housing market was reshaped in 2020, spurred by record-low mortgage rates and a sudden wave of market changes brought on by the pandemic. The Dukes County Registry of Deeds reported total sales volume topping $1 billion for the first time in history and home prices have pushed new boundaries as buyer demand continues to surge.
Martha’s Vineyard Real Estate Sales Top $1 Billion In 2020
Point B Realty Gains Significant Market Share In The Martha’s Vineyard Real Estate Market
Point B Realty ended the year ranked as the #2 brokerage on Martha’s Vineyard for overall transaction volume with 113 and #3 for overall sales dollar volume at nearly $200 Million (Source: LINK MV).
Point B Realty’s overall market share represented 21% of the total 2020 sales volume — which means that Point B Realty agents were involved in one of every five transactions on Martha’s Vineyard in 2020!
We are incredibly proud that in just 11 short years, our brokerage has risen to the ranks of other top-tier brokerages who have been in business for 30-50 years or more.
Martha’s Vineyard Vacation Rentals – From Covid Cancellations To Covid Re-booking Rental Surge
Our vacation rental business was also heavily impacted by Covid-19 – with a huge wave of cancellations when the pandemic hit in early spring, followed by an even larger surge of re-bookings for summer 2020. Our Rental Team is incredibly busy with 2021 reservations, as high demand to travel locally and earlier booking cycles have created a significant shortage of vacation rental home inventory for the coming summer season on Martha’s Vineyard.
Martha’s Vineyard Real Estate Sales Top $1 Billion And Point B Realty Gains Significant Market Share – Additional 2020 Highlights
We are incredibly honored to have been voted as the “Best Real Estate Company on Martha’s Vineyard” for the sixth consecutive year in 2020
Martha’s Vineyard Teddy Bear Suite Raises Nearly $50,000 To Help The Islands’ Children
In addition, our very own Martha’s Vineyard Teddy Bear Suite holiday fundraiser was voted runner up as the “Best Charity Event On Martha’s Vineyard” for the first time in 2020.
Celebrating its 10th year, the Martha’s Vineyard Teddy Bear Suite had its best fundraising year to date with nearly $50,000 raised for the MV Boys and Girls Club and its vital food program Healthy Happy Kids. In this year that held a number of unprecedented events and challenges, we saw a level of generosity that was unlike any we’ve seen before.
As we move into 2021 with much hope and optimism, we are especially grateful to call this wonderful island “home.”
And of course, please let us know if we can help you, or someone you know, with buying, selling or renting property here on Martha’s Vineyard!