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East End Real Estate Market Shows Healthy Increase In Median Price & Dollar Sales

George Simpson

According to George R. Simpson, President of Suffolk Research Service, Inc., the real estate market on the East End of Long Island shows a healthy increase in Median Price and Dollar Sales 3rd Qtr 2017 over 3rd Qtr 2016. Median Price is up 8.1% from 3rd Qtr 2016, and Dollar Sales are up 4.5%. Unit Sales are down 2 units from 3rd Qtr 2016. Median Prices for the 3rd Qtr 2017 vs 3rd Qtr 2016 were up in Southampton (4.7%) to $820,000, up in Southold (11.7%) to $597,500, and up in East Hampton (12.6%) to $985,000. Median Prices were down in Riverhead (4.2%) to $369,000 and Shelter Island (12.3%) to $807,000.

Unit Sales of single family residences increased in the towns of Southampton, Southold, and East Hampton 3rd Qtr 2017, compared to 3rd Qtr 2016. Unit Sales were down in Riverhead and Shelter Island.

Dollar Sales for 3rd Qtr 2017 vs 3rd Qtr 2016 increased in Southampton 3.3%, in East Hampton 13.7 %, and in Southold 17.5%. Riverhead Dollar Sales were down 14.1% and Shelter Island down 57.1%.

Residential Vacant Land (land use code 311) Unit Sales were down 6.9%, and Dollar Sales were down 42.1% 3rd Qtr 2017 vs 3rd Qtr 2016.

3rd Qtr 2017 East End Dollar Sales, Unit Sales & Median Price were all down from 2nd Qtr 2017.

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

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