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Hampton Home Sales Report vs. National Home Sale Reports

By Town & Country Real Estate, Thursday, August 01, 2013
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Town & Country released both the 2nd Quarter Home Sales Report as well as the Mid – Year Home Sales Reports for the Hamptons and the North Fork.
While all reports clearly demonstrate future emerging markets, the Hampton’s Home Sales Report in particular,
displays strong year to year gains.
In fact, of the 11 specific markets monitored by T&C, East Hampton Village experienced a staggering 207% increase in the Median Home Sales Price from $1.4M in 2nd Quarter 2012 to a staggering $4.3M for the same 6 month period 2013.
Looking at All the Hampton Markets Combined of the 7 different price categories in the Town & Country report, the $3.5-$4,99 price category realized the greatest increase… 83% from 18 in the first 6 months of 2012 to 33 this year January-June.
Looking now on a national level, the Standard & Poor’s/ Case- Shiller index report released on Tuesday, showed all 20 major US cities monitored rose by 12.2% May 2013 from May 2012. The Case-Siller Report is a monthly report on 20 specific cities which combined give us insight as to the overall market.
So while the Town & Country 2nd Quarter Home Sales Report covers 3 months in a particular region the Median Home Sale Price rose 6.11% to $955,000.
Our region of the Eastern End of Long Island does not suffer as badly as the national trends during the down turns.
This is primarily because we are surrounded on 3 sides by water thus there is a finite amount of inventory in any given year.
Additionally, our proximity to Manhattan—the home to millions—makes the East End a favorite destination for R&R.
In short, both locally and nationally, the future course for home sale prices have been chartered.
Are you in?