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Hamptons.com
November 8, 2013

East End 3rd Qtr Sales Highest In 10 Years: Hamptons Real Estate Market Shows Strong Trend For Recovery

George Simpsonby George Simpson
in Real Estate
Home Real Estate

Comparative 3nd Quarter 2013 market figures, as complied by Suffolk Research Service for the real estate industry of eastern Long Island, show a healthy trend of recovery in unit sales and dollar sales, but a down trend in median price vs 3rd Qtr 2012.

For single family residences, Median Price is down 3.9%, Unit Sales are up 35.4%, and Dollar Sales up 26.1% over 3nd Qtr 2012 figures.

Median price for all five towns fell to $639,000 in the 3nd Qtr of 2013, the lowest of the past 5 qtrs, and some distance away from the 3nd Qtr high of $717,000 in boom year 2007. Median Price changes for the 3nd Qtr 2013, vs 3nd Qtr 2012 were down in four out of the five East End towns: to $780,000 in Southampton – (down 13.3 % from 3nd Qtr 2012); to $895,000 in East Hampton (down 6.3%), $350,000 in Riverhead (down 1.4%); down 10.6% to $429,000 in Southold. Shelter Island had a median price of $760,000 (up 21.6 % on sales of only 22 units, not statistically significant, from the 3nd Qtr of 2012).

Unit Sales are highest in five Quarters and five years. Unit sales increased in all 5 towns of the East End 3rd Qtr 2013, compared to 3rd Qtr 2012.

Dollar Sales this quarter surpassed Dollar Sales in 2007, rising to $1.025 Billion, higher than sales of.$1.005 Billion in the 3rd qtr of boom year 2007.






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