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Elliman Report: North Fork Sales 3Q 2014

North Fork prices continued to increase as rising sales outpaced the expansion of inventory. Median sales price increased 8.4% to $444,500 from the same period last year. Average sales price followed the same pattern rising 11.4% to $576,322. Both median sales price and average sales price year to date were above the same period last year, rising 2.2% and 5.5% respectively. Housing prices in the luxury market, the top 10% of all sales, increased faster than the overall market. Luxury median sales price increased 12.6% and average sales price increased 37.3% respectively over the prior year quarter, largely from the increase in sales above $2 million…

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