Oct
27

Third Quarter 2011 Hamptons And North Fork Sales Report Released

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Today we released third quarter sales  for theHamptons/North Fork residential market.  The Hamptons/North Fork Market Overview Q3 2011 reported here and summarized below was prepared by Miller Samuel for Prudential Douglas Elliman.

“East End market conditions reflected increased activity, especially in the luxury market as listing inventory slipped”

  • There were 538 sales in the third quarter, 14.7% above 469 sales total in the same period last year, but 13.1% below the prior quarter total of 619 sales.
  • Median sales price was $700,000 in the third quarter, 12% higher than $625,000 in the prior year quarter. In the third quarter, 67.1% of all sales fell below the million dollar threshold consistent with the 65.9%, five-year average.
  • There were 2,238 listings at the end of the third quarter, 1.5% less than the 2,271 listings in the same period last year.
  • Although price indicators and sales activity increased from the same period last year, the listing discount measuring the negotiability between buyer and seller edged higher to 11.3% from 10% in the same period last year.
  • Days on market, the number of days from the last price change to contract date, increased 6 days to 170 days from 164 days in the prior year quarter.

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