The online version of the Prudential Douglas Elliman 1Q 2008 Hamptons/North Fork Market Overview [Miller Samuel]  is available for download.
I have been writing various incarnations of the New York regional market report series for Douglas Elliman since 1994.
…Both median and average sales price indicators were above levels reached in the prior year quarter. There was an upward skew in average sales price not seen in the change in median sales price, which was $790,000 up 1.9% over the prior year period median sales price of $775,000. The average sales price was $1,728,610 this quarter, up 16.8% above the prior year quarter, the second highest quarterly average sales price after the third quarter of 2007, which had an average sales price of $1,805,104.
Besides the rise in price indicators within the top 20% of the market, perhaps one of the more striking characteristics of the East End was the decline in overall number of sales. The lower volume of sales activity is largely attributable to the declining national economic climate, tighter credit and a weaker employment picture in the New York City financial services sector…
Download report: 1Q 2008 Hamptons/North Fork Market Overview [pdf]