Log In   ·   Become A Member

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

George Simpson

  |   1 Comment · Print Article

Idyllically located in the estate section of East Quogue is this secluded bay-front paradise that's an oasis all its own yet is convenient to area beaches and conveniences, and easily commutable from New York City. Listed for $2.39M by The Corcoran Group. (Courtesy Photo)

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.

George Simpson is the President of Suffolk Research Service, Inc., a division of Office Management Systems Corp (OMS). OMS specializes in software products for Real Estate professionals. Most notable is their Appraise@ software. www.suffolkresearch.com

Guest (Jesus) from Heaven says::
It's much better up here up here in Heaven..
Nov 12, 2013 12:39 pm


Submit Your Comment

Please note, you are not currently logged in. Your comment will be submitted as a guest.
To submit your comment as a member, please click here.
Your Name:
* Comments will be reviewed and posted in a timely fashion
* All fields are required
Please type the word 'water'
(For spam prevention, thanks)
East End Tick Control
The East End's only New York State licensed dedicated tick and mosquito control specialists!

Advertise on Hamptons.com - Have your business be seen by over 2 million viewers including NEW searches
Hamptons.com- Our exclusive online magazine has 2.6 million Page Views YTD for 2015. Contact us to join our elite group of clients that benefit from having a presence on the Hamptons award winning publication www.Hamptons.com

Hamptons Carpet One Floor & Home
We pay less,and so do you.With over 1,000 stores in our buying group, we can get the lowest prices from the best flooring manufacturers ó and pass the savings on to you.Visit our other locations: Hamptons Carpet One Floor & Home, 675 North Sea Road,Southampton, NY 11968

Southampton Masonry-Visiting the Southampton or the Wainscott locations is an exciting experience.
Southampton Masonry has been serving Long Island's masonry and tile needs since 1975. Delivering quality products from Manhattan to Montauk for over three decades. The company's continued success is due primarily to their number one priority: customer satisfaction, with a promise of prompt and courteous service from the professional, knowledgeable staff. Southampton Masonry has the largest inventory on the east end. As direct importers they can offer a large variety of the finest quality products at the most competitive pricing for both your interior and exterior projects.

RJD Gallery specializes in contemporary art with a focus on Magical, Figurative Realism, Narrative Portraiture and Urban Landscape.
We exhibit representational artists from around the world, who produce fine art of exceptional quality that challenge collectors to contemplate concepts about the artist, themselves, and our human experience. Utilizing timeless techniques in creating their drawings, paintings and sculptures, our artists have developed unique, signature styles that present a current vision of our world.

Hampton Luxury Liner
Hampton Luxury Liner was started in 2000 as a more luxurious way to travel from NYC to the Hamptons and back. The clientele quickly grew and over the years Hampton Luxury liner became the preferred method of transportation to the Hamptons and NYC for many living in NYC and the Hamptons that wanted a comfortable and affordable way to travel back and forth. In 2009, HLL was taken over by Classic Coach and things with the liner didnít change to much for years and the owner there changed the buses to Prevost as opposed to Mercedes Setra Top Class Coaches that have always been a signature of the liner. Please call (631) 537-5800 to reserve a charter or email us at Hampton Luxury Liner. The Only Way to Ride!