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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