Thursday, April 25, 2013

Brown Harris Stevens Reports Sellers Rush Close In 2012 Impacts Hamptons First Quarter 2013 Closings




                                                      The Hamptons

 New York, NY --  According to the first 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 was down 13% when compared to the first quarter of last year.

Cia Commas
Both the average and median price on the South Fork decreased. At $1,305,234, the average price was 13% lower than the first quarter of 2012, while the median fell 8% to $750,000.

 "Like many markets, we experienced a surge of closings in December due to pending tax law changes.

“The first quarter numbers reflect the resulting phenomenal activity we experienced at the end of 2012 and in no way indicates a slowing market.

“ To the contrary, this year has been very active with buyers coming out earlier than usual, which indicates to me a strengthening market," said Cia Comnas, executive managing director of Brown Harris Stevens of the Hamptons.

"The rental market has been quite active. Some areas, such as Amagansett and Montauk, report renters coming from the Jersey Shore market although we are not seeing that throughout the Hamptons.”

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


Rachel Gonzalez
Rubenstein Public Relations
212.843.9240

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