Archive for the 'Quogue' Category

Hamptons 4th Quarter 2011 Home Sales Report

Tuesday, January 17th, 2012

 

TOWN & COUNTRY’S 4th Quarter Hamptons Home Sales Report shows in black and white (and red) exactly what the home sales activity for late fall, early winter of 2011 was all about.

Ordinarily, we close these reports with looking at all the All Hampton Markets Combined, but this time we will begin with evaluating the cumulative figures as it is a good indicator.  In All Hampton Markets Combined, the number of home Sales increased 9.43% from 265 to 290 4th Quarter Year to Year, yet the Median Home Sales Price dropped 16.22% from $940,000 to $787,500 same period.

A further look at the six price categories we examine show strong increases in activity below $2M,  flat over $3–5M, and a decrease of 43.24% from 37 in 4th Quarter 2010 to 21 in 4th Quarter 2011 in the  $2–3.49M price range.  We can speculate on buyer demographics to explain this phenomenon but we will hold off until the Town & Country Year End Report is released next week.

The shining star in The Hamptons was Sag Harbor.  Sag Harbor area (which includes Noyack and North Haven) Number of Houses has sky rocketed 87% from 15 to 28 year to year in the 4th Quarter.  The Total Home Sales Volume shot up nearly 80% from $18.7M to $33.4M 4th Quarter 2010 to 2011, yet the Median Home Sales Price dropped 28%.  Again a further look at the six specific price categories monitored by Town & Country clearly depicts 25 of the 28 sales were under $2M and the only price category to decline was $2-3.49M price category which went from 5 home sales in 2010 to 1 in 2011 4th Quarter.

Sag Harbor Village had a sterling 4th Quarter 2011 with increases in all three criteria monitored – 60% increase in Number of Home Sales; 35% increase in Total Home Sales Volume, and 2% increase in Median Home Sales Price.

Neighboring Shelter Island enjoyed a 45.45% spike in Home Sales from 11 to 16 year to year.

The 3 crown jewels, East Hampton Village, Southampton Village and Bridgehampton (which includes Water Mill and Sagaponack) remain impressive by any standards.

Southampton Village Median Home Sales Price 4th Quarter 2011 came in at $2.3M.

Bridgehampton Market (which includes Water Mill and Sagaponack) posted a Median Home Sales Price of $2.8M.

East Hampton Village a staggering $3.575 Median Home Sales Price.

To view more specifics on your particular locations visit www.1TownandCountry.com/reports.

 

Judi A. Desiderio, CEO

jd@1TownandCountry.com •  631-324-8080

*Source: The Long Island Real Estate Report

**All information is deemed reliable and correct.  Information is subject to errors, omissions and  withdrawal without prior notice.

US Home Prices & New Home Sales BOTH rise!

Thursday, October 27th, 2011

WASHINGTON: The Standard & Poor's/Case-Shiller index showed home sale prices rose in August from July in 10 of the 20 cities tracked. This is an indication of stabilization in some of the hard hit portions of the country. July was the 5th straight monthly gains in half the cities monitored.

Additionally, the US Commerce Department released the New Home Sales Report for September which showed a strong increase of 5.7% to a seasonally adjusted annual rate of 313,000 homes.

The National Association of Home Builders reports that for each new home built, 3 jobs are created for a year and generates $90,000 in taxes….All good news for the National Home Markets and our financial recovery!

Now if the banks would get on board we'd see the recovery speed up.

IT’S TIME TO BUY THAT HOME

Tuesday, October 18th, 2011

Wall Street Journal's Jack Hough, titled his article on Saturday just that… "It's Time to Buy That House".
 

He discusses the National Association of Realtors, Housing Affordability Index, which Town and Country has written about several times this year, which was 183.7 in August. According to NAR a reading of 100 would indicate that the median income family with a 20% down payment can afford a mortgage on a median priced home.
 

Jack gives an example of a median priced home in greater Phoenix, purchasing it with 20%, at todays 4.12% interest rate, results in monthly payments less than half what the rental for the same home would be.

Of course, as we discussed many times in prior blogs, the banks are being piggy and not lending the money they should, even to qualified buyers. This must be rectified first, in order to move forward!
 

Personally, my sentiment has always been the same. I'd rather keep my money in "East End dirt", as I call it, rather than anywhere else on the planet!
 

As Kramer would say, "Buy, Buy, Buy".

A WEEKEND OF TOWN AND COUNTRY OPEN HOUSES ON THE NORTH FORK…

Saturday, August 21st, 2010

Aren’t Open Houses are a fun way to find the home of your dreams?

If you are looking for a home with a dock – this weekend is great: Town and Country Agents are making it possible to see quite a few -priced right- waterfont homes with private docks on the North Fork- for your convenience-no appointments needed!

Our T&C agents are professionals who know the RE market – that’s their business. So do not hesitate to pick their brains while you visit their open houses. Remember-they know the best homes on the market: ask them for their favorite listings! 

Click here for this weekend’s Open Houses

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”.
 

Welcome to Town & Country Blog

Wednesday, June 25th, 2008

All of us here at Town & Country would like to extend a warm welcome to our visitors. We look forward to hearing your comments and thoughts and will reply accordingly and timely. best, Judi A. Desiderio, CEO