Sunday, January 27, 2013

Number of East End Long Island, NY Sales Increases Again As Sellers Rush Close By Year End


  
Peter Turino
 New York, NY -- According to the fourth quarter market report for single-family home sales on the East End of Long Island released today by Brown Harris Stevens, the number of sales in the Hamptons rose 16% from the fourth quarter of last year, with the number of sales of $2.5 million and over up 98% over the same period.

Both the average and median price on the South Fork increased. At $2,171,928, the average price was 27% higher than the fourth quarter of 2011, while the median rose 16% to $975,000.

Long Island, NY, South Shore, Tobay Beach
"The increase in sales volume for 2012 indicates that the Hamptons market has stabilized since the recession and is returning to a normal growth cycle," said Peter Turino, president of Brown Harris Stevens of the Hamptons.

"While unlikely to explode with activity, the market is regaining lost momentum as many buyers and investors are willing to purchase at current price levels. This continued steady growth in sales is encouraging," 

 "Like many markets, we experienced a surge of closings in December due to pending tax law changes, however there are still plenty of buyers that are actively looking now. Sale transactions are being done this month during what is normally a quiet time which is additional evidence that this market is turning a corner."

 For a complete copy of the company’s news release, please contact:

Jennifer Little
Rubenstein Public Relations
212.843.8364
               

No comments:

Post a Comment