The 1Q 2010 Hamptons/North Fork Market Overview that I author for Prudential Douglas Elliman was released today.
Other reports we prepare can be found here.
Additional insight can be gained from charts we create to supplement the report and press coverage.
…There were 486 sales in the first quarter, 141.8% more than the 201 sales of the prior year quarter, but 13.8% below the 564 sales in the prior quarter, which was a two-year high. The last three quarters of sales activity has been consistent with the quarterly average of the past 5 years. Gains in the financial markets, Higher Wall Street compensation, low mortgage rates and improved affordability have stimulated demand. Despite economic turmoil of the past two years, the East End housing market, which is driven by its second home market, has continued to keep pace with the New York City housing market. Although there were sharp gains in the number of sales, up from levels not seen in at least six years, listing inventory rose. There were 2,318 listings, up 1.3% from 2,289 listings in the same period last year and up 7.4% from 2,159 listings in the prior quarter. Re-sale shadow inventory, which consists of listings that were removed from the market in the prior year due to unfavorable market conditions, is being added to the current market…
Download report 1Q 2010 Hamptons/North Fork Market Overview [Miller Samuel]
View Hamptons/North Fork charts [Miller Samuel]