Oct
23

Douglas Elliman Releases 3rd Quarter 2014 Report for Long Island, Hamptons and North Fork Sales Markets

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This week, Douglas Elliman released the Q3 2014 Long Island, Hamptons & North Fork Sales Reports summarized below and reported here for Long Island , Hamptons  & North Fork   was prepared by Miller Samuel for Douglas Elliman.

3QTR_LongIsland_Sales

  •  After a year of increases, Long Island housing prices remained stable this quarter as the pace of the market eased a bit. Although rising prices of the past year brought more inventory to the market, the third quarter showed faster marketing times and the smallest listing discount in eight years.

 

  • Home sales in the Hamptons were higher than last year. After showing signs of cooling last quarter, housing prices have continued to rise, incentivizing more homeowners to list their properties for sale.  Luxury market prices increased faster than the market as a whole.

 

  • North Fork housing prices continued to increase, especially in the luxury market. The number of sales rose at a higher rate than inventory, resulting in a more quickly moving market.  As a result, the time to market a property fell.

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