Archive for February, 2016

TOWN & COUNTRY HAMPTONS 6 YEAR HISTORY HOME SALES REPORT

Tuesday, February 16th, 2016

In 2005 TOWN & COUNTRY published the first of a series of multiple year Home Sales Reports.

In the last report of 2010, we witnessed the best and the worst of sales activity. 2009 saw only 1,094 homes closed title, the least since I have been reporting on market activity. Conversely, 2005 hit the high watermark with 2,544 home sales. Total Home Sales Volume, which is driven directly by the high end, had its best performance in 2007 with over $3.8 billion changing hands. That was then, this is now.

Fast forward to this 6 year study, and clearly 2005 remains the high water mark for the Number of Home Sales. The Total Home Sales Volume ran a 7 year cycle with 2014 closing nearly $4.7 billion, while 2007 saw just over $3.8 billion sold.

One notable, and interesting statistic, is that for the past 10 years the Median Home Sales Price bounced around the +/- $900,000 range with a low of $849,500 in 2005 and a high of $999,000 in 2007, followed closely by 2015 at $997,500. This statistic is much lower than market examples in many locations.

Evaluating the 12 individual markets monitored by TOWN & COUNTRY and you will see that these individual markets move independently in many ways, yet yield a definitive trend reflective of the health and stability of the overall economy, but mostly the equity markets.

To view the full report visit TownAndCountryHamptons.com/Reports.

HAMPTONS TOP 10 MOST EXPENSIVE SALES OF 2015

Tuesday, February 16th, 2016

2015 closed out the year with a solid performance on the high end. But, 2014 remains THE BEST YEAR for high end real estate sales — shattering all prior ceilings with Barry Rosenstein’s purchase of Andrew Gordon’s estate from his partner, Chris Browne at $147M. The combination of 62 Further Lane, East Hampton at a total price of $97M plus 2 contiguous lots totaling $50M yields the $147M dollar total. That record sale unseated the prior high water mark set in 2007 when Ron Baron bought the deMenil Carpenter property also on Further Lane in East Hampton at $103M.

So while the 2015 top slots don’t come close to those record sales, the 10th spot was held at a respective $23M for 377 Jobs Lane in Bridgehampton.

In keeping with past Top 10 Most Expensive Sales reported by TOWN & COUNTRY, 9 of the 10 sales were waterfront with 7 of the 9 being oceanfront. The hamlet count was fairly consistent with Southampton logging in the most at 4, Bridgehampton with 2, East Hampton with 2, and Montauk with 1.

East Hampton once again takes the crown with 226 Further Lane at $57.3 M.

To view all Top 10 Most Expensive Sales visit TownAndCountryHamptons.com/Reports.

HANFRA Elects Town & Country Real Estate’s Joan Bischoff van Heemskerck As Organization President

Thursday, February 11th, 2016

Town & Country Real Estate’s North Fork offices manager Joan Bischoff van Heemskerck was recently elected President of HANFRA (Hamptons and North Fork Realtors Association), a branch of the National Association of Realtors and New York State Association of Realtors that was established on the East End in 1996.

“It is an honor to represent such an influential organization,” said van Heemskerck looking forward to his term as President of a group he views as the voice of real estate in our complex North Fork and Hamptons region.  “And, it’s also nice to be elected by your peers.”

Van Heemskerck see the changes in the industry, “The real estate market is rapidly changing due to technology with new real estate websites and social media.  I want to help realtors keep up with these changes and help make their listings available to consumers as well as help consumers find the listings they are looking for.”

“In such a competitive market,” said van Heemskerck, “it is nice to be unified and held a professional standard that keeps the integrity of the business as well as the community.”