Archive for Long Island

Apr
26

In the News – April 26, 2015

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4/23/15 Douglas Elliman releases Elliman Report for 1st Quarter 2015 Los Angeles Sales: Housing prices in Los Angeles have been rising for nearly three years. Inventory remained low with more sales in the first quarter than last year. This was the highest number of sales in nine years. With rising sales, rising prices and low inventory, there was limited negotiability between buyers and sellers. We anticipate these conditions to continue through the spring market.  See the Full report at Elliman.com

4/23/15 Douglas Elliman Releases Elliman Report for 1st Quarter 2015 Aspen Sales:  Aspen housing market prices increased for the fifth consecutive quarter caused by falling inventory and a shift to larger sized sales. First quarter median sales price reached its highest level in five years. The market moved at a faster pace as sales increased and inventory declined. Snowmass Village followed a similar pattern of rising prices and sliding inventory.  See the full report at Elliman.com

4/23/15 Douglas Elliman Releases Elliman Report for 1st Quarter 2015 Long Island Sales: Long Island housing inventory remained low as sales increased. The faster pace of the market made housing prices rise across much of the region. Luxury housing prices increased at a faster rate than the overall market. Without significant new supply entering the market, these trends are expected to continue through the coming quarters.  See the full report at Elliman.com

4/23/15 Douglas Elliman Releases Elliman Report for 1st Quarter 2015 Hamptons Sales: The Hamptons housing market has been on a tear, having the highest median sales price in a decade and the most first quarter sales in eight years. Much of the market’s strength was concentrated in the $1 million to $5 million price range. An improving regional economy and low inventory have continued to keep the pressure on the market.  See the full report at Elliman.com

4/23/15 Douglas Elliman Releases Elliman Report for 1st Quarter 2015 North Fork Sales:  First quarter North Fork housing sales reached an eight-year high as inventory fell, pushing housing prices up. Prices were generally higher and marketing times were faster. Rising sales and limited supply combined to create the fastest moving market in eight years. See the full report at Elliman.com

4/23/15 Douglas Elliman Releases Elliman Report for 1st Quarter 2015 Fairfield County Connecticut Sales:  Fairfield County began 2015 with the most first quarter sales in nine years and the lowest amount of inventory in a decade. With rising demand and falling inventory, housing prices increased in both the overall and luxury markets at about the same rate.  See the full report at Elliman.com

4/23/15 Douglas Elliman Releases Elliman Report for 1 Quarter 2015 Greenwich, CT Sales:   Both sales and prices for the Greenwich condo market increased as inventory fell. Single family inventory expanded causing sales to take about the same time to sell as last year while condos sold more quicklySee the full report at Elliman.com

 

 

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.

May
04

In the News – May 4, 2014

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05/02/14 – Elliman Releases 1st Quarter 2014 Long Island Sales Quarterly Sales Survey:  The Long Island housing market entered 2014 with low inventory, rising sales volume, faster pace and rising prices. While inventory may have bottomed in the prior quarter, levels have remained low and this continues to be a challenge for many homebuyers. With low inventory, homes are selling faster and prices have edged higher over the past year. With the economy slowly improving and mortgage rates stabilizing, we anticipate a busy spring market.  See the full report at Elliman.com

 

05/02/14 – Elliman Releases 1st Quarter 2014 Hamtons Sales Quarterly Survey:  The first quarter Hamptons market improved significantly from the same quarter last year which had been recovering from the “fiscal cliff” hangover. Sales activity was significantly higher and marketing times were shorter. Inventory was up from last year¹s levels, but has remained stable for the past year. Big gains were seen in the luxury market, with the 4th highest sales total of $5M+ in 8 years. Wall Street compensation was higher this year and is being felt across the market. We look to improving market conditions in the coming quarters.  See the full report at Elliman.com

 

05/02/14 – Elliman Releases 1st Quarter 2014 North Fork Quarterly Survey of Residential Sales:  The North Fork returned to a more normal market, improving from the weaker conditions experienced a year ago. The number of sales jumped this quarter, rising faster than inventory levels. Home prices generally remained stable, but marketing times fell as the pace of the market was faster. Like the rest of the region, we expect these conditions to continue into the spring.  See the full report at Elliman.com

 

 

 

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Jan
26

In the News – January 26, 2014

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1/23/14  Douglas Elliman Releases Elliman Report for 4th Quarter 2013 Long Island Sales:  The Long Island housing market had a strong finish with the most 4th quarter sales in seven years and the lowest inventory levels in twelve years. In addition, median sales price reached the highest fourth quarter level in four years. Rising mortgage rates pulled many people into the market who have been on the sidelines for the past several years. Over the past decade, the luxury market outperformed the overall market, although this past quarter, the luxury market was in sync with the entire marketplace. As the regional economy slowly improves, we anticipate more improvement over the coming quarters.  See the full report at Elliman.com

1/23/14  Douglas Elliman Releases Elliman Report for 4th Quarter 2013 Hamptons Residential Sales:  The housing market in the Hamptons finished 2013 showing stability, after adjusting for the impact of last year’s “fiscal cliff” rush of buyers at the upper end. The current market has returned to a more normal mix of sales, as housing prices remained stable. The number of days to sell a property and the negotiability between buyers and sellers fell reflecting the tightness of the current market. Our “Decade” report showed that luxury market price trends outpaced the overall market. Given the high sales activity in New York City and reported rise of Wall Street bonuses, we look forward to a busy 2014 market.  See the full report at Elliman.com  

1/23/14  Douglas Elliman Releases Elliman Report for 4th Quarter 2013 North Fork Sales:  The North Fork housing market closed out the year with the highest quarterly sales total in five years. Inventory fell slightly from last year. Like the Hamptons market to the south, the North Fork also saw the rush of high-end buyers at the end of 2012, which caused prices to show a decline in the most recent quarter. Both days on market and listing discount fell, as market conditions remained “tight.” We look to an improving market over the next several quarters.  See the full report at Elliman.com

1/23/14 Douglas Elliman Releases 2004-2013 Hamptons and North Fork Decade Report:  See extensive Charts and Graphs for various sales data for the Hamptons and North Fork markets with comparisons over the past decade at Elliman.com.

1/23/14:  Douglas Elliman Releases 2004-2013 Long Island Decade Report:  See Extensive Charts and Graphs for various sales data for the Long Island Residential Sales Market with comparisons over the past decade at Elliman.com 

Oct
27

In the News October 27, 2013

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10/24/13:  Douglas Elliman Releases Elliman Report for Hamptons Sales 3Q 2013:  In the Hamptons, there was an increase in home sales from what we saw last year at this time. The rise in mortgage rates last spring prompted many who were on the fence to make a purchase and more of those buyers than usual were first time buyers. Inventory remains low but has been rising this year, giving buyers more choices in a fast moving market. We look forward to continued improvement in the market over the coming quarters.  See the full report at Elliman.com

10/24/13:  Douglas Elliman Releases Elliman Report for North Fork Sales 3Q 2013:  The North Fork housing market, like the Hamptons, had more lower priced sales in the mix which was prompted by the rise in mortgage rates. Sales fell just short of prior year levels, but inventory fell faster keeping the market tight. Although the rise in lower priced sales caused overall prices to fall short of prior year levels, housing prices remained stable. We expect to see these conditions continue into next year.  See the full report at Elliman.com 

10/24/13:  Douglas Elliman Releases Elliman Report for Long Island Sales 3Q 2013:  The Long Island housing market was unusually active over the summer and into the fall. The market had more sales in the third quarter than in any quarter of the last seven years. Listing inventory fell to the third lowest level we’ve seen in a more than a decade. The increase in sales and lack of inventory pushed prices to their highest level in five years. Rising mortgage rates are expected to help sustain the rebound by keeping price gains in check going into next year.  See the full report at Elliman.com 

 

 

Jul
31

In the News – August 5, 2012

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07/26/12:  Prudential Douglas Elliman Releases Exclusive 2nd Quarter 2012 Elliman Report for the Long Island Market.  The spring housing market in Long Island was brisk this year with an increase over last year’s sales even though we had unusually strong sales in the previous quarter caused by the warm winter.  Housing prices remained stable and inventory fell to a seven year second quarter low.  Record low mortgage rates continue to drive demand in this slow-to-improve economy and we anticipate more of the same conditions in the coming quarters.    Download the full report at Elliman.com  

07/29/12:  Big Ticket: Sold $27,376,940.03 An urban version of the traditional rambling family compound, a seven-bedroom, nine-and-a-half-bath apartment that occupies all 8,360 square feet of the 16th floor at 995 Fifth Avenue, a condop building formerly known as the Stanhope Hotel, was the biggest sale of the week, according to city records.  See the full article in the New York Times    

07/30/12  Country’s most expensive apartment lists for $100M:  The most-expensive apartment in the country — a triplex, wrap-around penthouse on W. 56th Street — can now be yours for just $100 million.  Read the full article in the New York Daily News

Oct
27

Third Quarter 2011 Long Island Sales Report Released

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Today we released third quarter sales  for the Long Island residential market.  The Long Island Market Overview Q3 2011 reported here and summarized below was prepared by Miller Samuel for Prudential Douglas Elliman.

“Sales activity jumped above last year’s levels, as listing inventory slipped.  Negotiability between buyers and sellers held steady.”

  • Median sales price declined 3.2% to $365,000 from $377,250 in the prior year quarter. Average sales price followed a similar pattern, declining 3.9% to $457,496 from $475,946. The decline is largely attributable to last year’s federal homebuyers tax credit that had pushed sales prices higher.
  • There were 5,141 sales in the third quarter, 18.4% above the 4,343 total in the prior year quarter and 22.3% above the prior quarter total of 4,205. The current total is the fourth highest quarter in three years, led by three quarters significantly impacted by the federal homebuyers tax credit from the second half of 2009 through early 2010.
  • There were 21,462 listings on the market at the end of the third quarter, 1% less than 21,670 listings in the prior year quarter and 5.8% less than 22,772 listings in the prior quarter.
  • The average number of days to sell a property from its original list date to contract date was 116, nominally longer than 112 days in the prior year quarter.
  • The listing discount, or negotiability between buyer and seller, measures the percentage discount from the original list price and the sales price, was essentially unchanged at 6.5% in the third quarter compared to 6.6% in the same period last year.

Just released today are the new 3Q 2009 Residential Sales Market Reports for Long Island and Hamptons/North Fork prepared by Miller Samual Inc. for Prudential Douglas Elliman.

Hamptons and North Fork Residential Sales ReportHamptons & North Fork

Median sales price was $700,000 in the third quarter, down 4% from $729,000 in the same period last year, but up 2.9% from $680,000 in the prior quarter.

In a release of pent-up demand, there were 459 sales in the third quarter, 49.5% more than the second quarter and 29.3% more than the same period last year.

Despite the surge in sales this summer, third quarter listing inventory expanded 5.8% to 2,419 properties compared to the prior quarter as sellers attempted to take advantage of the newly active housing market.

Days on market for properties that sold during the third quarter expanded to 198 days from 173 days at this time last year. The surge in demand enticed sellers to leave their property on the market, which drove this indicator higher.

The listing discount, the distance buyers and sellers had to travel to agree on price, expanded to 16.9% in the third quarter from 10.2% in the same period last year.

Long Island Residential Market Report 3Q 2009Long Island

The number of sales in the third quarter jumped 41.6% to 5,603 properties above prior quarter levels and was 5.9% above the number of sales seen during the same period last year.

The increase in the number of sales has reduced the number of properties available for sale. There were 22,170 properties listed for sale at the end of the third quarter, a 10.1% decline from the 24,672 listing inventory total of the same period last year.

Median sales price was $375,000 in the third quarter, up 4.2% from $360,000 in the prior quarter, but remained 9.6% below the $415,000 of the same period a year ago.

Days on market, or the time it took to market a property, was 116 days, essentially unchanged from 115 days in the same period last year, but was 10 days faster than the prior quarter.

The listing discount, which is the difference between the list price at time of sale and the contract price, was 6.5%, up nominally from 6.4% in the same period a year ago.

Categories : Condo, Market Reports
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