Archive for April, 2010

Mystery Open House Tour on Mattituck Inlet – April 30, 11:30AM – 2:30PM – Captain Bob’s Fishing Station at Old Mill Inn, Mattituck

Tuesday, April 27th, 2010

March 2010 – Recovery for Real Estate on the North Fork!

Tuesday, April 20th, 2010

The month of March saw excellent sales in terms of contracts signed – the least delay sensitive measure of RE activity- compared to previous years: almost $22 1/2 Million in contracts were signed! Median Price rose almost to a record $800K.

MLS records show that the 28 transactions signed in March of 2010 was better than 2009, and even 2007, a tat less than 2008 one of the region’s best years in Real Estate. With 5 deals signed over $1 Million, that is a record for March on the North Fork.

Activity in the lower end – heavily stimulated before December 31, 2009 by the $8K tax credit, seemed to have slowed down in the first quarter, but higher priced homes were in brisk demand and contracts were sigend at very healthy levels. All great news.

STATISTICS StatsContracts

Take advantage of this market activity by calling Town and Country – call me at 631 948 0234 or email jbischoff@1townandcountry.com

North Fork 1st Quarter 2010 Home Sales Report

Tuesday, April 20th, 2010

 The next “market trend” is well under way.

Town & Country was the first to identify “the bottom”, mid year last year and we’re the first to identify the recovering market.
 
We reported increased activity in sales appointments, O&A’s and contracts in our North Fork Year End 2009 Home Sales Report which we explained will be quantified in the 1st and 2nd report of 2010… and so it is written.
 
All 4 markets monitored by Town & Country posted significant gains in the Number of Home Sales except ORIENT (which includes East Marion and Greenport) which remained unchanged with 9 Home Sales.  MATTITUCK (which includes Laurel and Cutchogue) posted the greatest increase at 64% with 18 Home Sales in 2010 compared with 11 in 2009, and while the 18 was just shy of the 22 posted in 2008, it demonstrates a strong recovery.  All 18 Home Sales in MATTITUCK (which includes Laurel and Cutchogue) were under $1M.
 
SOUTHOLD (which includes New Suffolk and Peconic) Total Home Sales Volume exploded year to year with an 80% increase from $6.3M to $11.3M 2009 to 2010 1st quarter respectively.  This trend continued in the category of Median Home Sales Price, where a jump of 55% from $400,596 in 2009 rose to $620,000 in 2010.  A closer look at individual price categories show SOUTHOLD (which includes New Suffolk and Peconic) Home Sales $500,000- $900,000 rose from 2 in 2009 to 9 in 2010 and $1M – $1.99M from 1 to 3 Home Sales year to year.  Both figures top the numbers of 2008, pre-recession.
 
Looking at All North Fork Markets Combined and we see almost all black!!! The Number of Home Sales jumped 26% while the Total Home Sales Volume increased 28% and the Median Home Sales Price rose 15.5% , All significant,  all positive, all confirming the worst is far behind us on the North Fork.
 
To view more specifics on your particular locations and price ranges, visit out website 1TownandCountry.com and click “Reports”.
 

HAMPTONS 1ST Quarter 2010 Homes Sales Report

Tuesday, April 20th, 2010

There’s nothing more impressive than a powerful recovery!

Town & Country was the first to identify the bottom in the middle of last year, and promised a report in 2010 that would prove activity levels were returning.

It seems some of the markets hit hardest by the recession came back with a bang!

SHELTER ISLAND posted a whooping 1300% increase in Number of Home Sales from 1 to 14 and therefore an OUT OF THIS WORLD increase of 1442% in Total Home Sales Volume from $1.24M to $19M – which is twice the $9.5M posted for 1st quarter 2008! Oddly though the Median Home Sales Price dropped 15.4% from $1,240,000 to $1,049,500 – a trend we see in 4 markets thereby clearly conforming to the public’s demand for lower priced homes.

All 11 markets monitored by Town & Country saw BLACK or increases, in the Number of Home Sales. 10 of the 11 markets saw increases in the Total Home Sales Volume with the only exception being SAG HARBOR AREA (which includes Noyac and North Haven) with a 16% dip. And 6 of the same 11 markets experienced gains in Median Home Sales Price in this year to year 1st quarter report.

EAST HAMPTON VILLAGE Median Home Sales Price rose 137% from $1,242,500 to $2,950,000. While quite impressive, it still trails the $3.45M posted 1st quarter 2008, pre-recession.

SOUTHAMPTON VILLAGE Median Home Sales Price also experienced a grand increase of 103% from $825,000 to $1,675,000, 2009 to 2010 respectively. Still a far cry from 1st quarter 2008 when SOUTHAMPTON VILLAGE Median Home Sales Price was $2,775,000.

Studying All Hamptons Markets Combined we see just how impressive this recovery is. The Number of Home Sales rose 175% from 106 in 2009 to 292 in 2010 – which trumped the 287 posted back in 2008 before the crash! Further, the Total Home Sales Volume sky rocketed 251% from $153.6M in 2009 to $539M in 2010 and the Median Home Sales Price rose 51% from $730,000 in 2009 to $1.1M in 2010 – again trumping the $975,000 Median Home Sales Price 1st quarter 2008.

Clear across the board All Hamptons Markets Combined in every category and every price range displayed pure and powerful black.

If the time were ever more right to buy,,, I haven’t seen it!

To view more specifics on your particular locations and price ranges, visit out website 1TownandCountry.com and click “Reports”.

BUYERS ARE BACK TO THE TABLE

Friday, April 9th, 2010

Don’t miss out.. you’ll be kicking your self and talking about the house (or property) you should’ve, could’ve, would’ve bought "back in 2010!"

The stats are in, the number of home sale buyers who agree to purchase a previously occupied home rose sharply in February according to the National Association of Realtors– far greater than predictions– The seasonally adjusted index of "O&A’s" (offer & acceptance) rose 8.2% from January to a February reading of 97.6. January’s reading was 90.2.

Here on Long Island we saw 1,555 contracts in February which was a 28.5% increase from January’s 1,210 according to MLS. These MLSLI (Multiple Listing Service of Long Island) are comparable to the NAR (National Association of Realtors) report on O&A’s accross the country.

the spring selling season is off to the races… don’t get left in the dust!