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?